PUBLISHER: The Business Research Company | PRODUCT CODE: 1643979
PUBLISHER: The Business Research Company | PRODUCT CODE: 1643979
Fiber optical cables are specialized cables that use thin strands of glass or plastic fibers to transmit data in the form of light pulses, enabling high-speed data transfer over long distances with minimal signal loss. Fiber optical cables offer significantly higher bandwidth and greater resilience to interference, making them an ideal choice for data-intensive applications and industries that require reliable communication networks.
The fiber optical cable market consists of sales, by entities (organizations, sole traders or partnerships), of fiber optical cables that refer to essential components of modern communication systems, enabling high-speed data transmission over long distances. Comprised of thin strands of glass or plastic, these cables utilize the principle of total internal reflection to carry light signals. The core of the fiber, which is surrounded by a cladding layer with a lower refractive index, ensures that light remains trapped within the core as it travels, allowing for minimal signal loss and high bandwidth capabilities
The global fiber optical cable market was valued at $54,093.09 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 6.00%.
Rising Investment In Infrastructure For Smart Cities
Rising investment in infrastructure for smart cities drove the growth of the fiber optical cable market during this historic period. Smart cities refer to an administrative territory that uses information and communication technology (ICT) to improve their operational efficiency and provide better infrastructural facilities to its residents. Smart cities rely on extensive networks of interconnected devices to manage and optimize urban services, such as traffic control, waste management, public safety and energy distribution. These applications require the reliable, high-speed data transfer that fiber optic cables offer, making them essential for effective smart city implementations. For instance, in January 2022, the Indian Government disbursed INR 284.13.6 billion ($3.817 billion) for 100 smart cities, with INR 236.683 billion ($3.18 billion) already utilized. The Smart Cities Mission (SCM) was launched by the Government of India on June 25, 2015, aiming to enhance urban infrastructure and services across designated cities. Additionally, in November 2021, the federal government announced the Investment and Jobs Act in its annual bill, in which it allocated $500 million for accelerating its smart city initiative and increasing the number of smart cities in the country. Therefore, rising investment in infrastructure for smart cities contributed to the growth of the fiber optical cable market.
New Fiber Capacity Investment Enhances Supply Chain for High-Speed Internet Rollout
Major companies in the fiber optical cable market are focused on new fiber capacity investment that enhances supply chain for high-speed internet rollout. These enhancements help to maintain consistency in fiber quality and ensure the durability of cables, which is crucial as fiber optic networks expand. For instance, in February 2024, Finolex Cables Limited, an India-based manufacturer of electrical and telecommunication cables, invested INR 5,800 million ($6.96 million) to increase optic fiber cable capacity to 10 million fiber km annually. This investment is aimed at enhancing the company's ability to produce up to 10 million fiber km annually, positioning it to meet the growing demand for high-speed internet and telecom services. The expanded capacity will support the rapid growth in data consumption and the increasing rollout of 5G networks.
The global fiber optical cable market is fairly fragmented, with a large number of small players in the market. The top ten competitors in the market made up to 14.23% of the total market in 2023.
Fiber Optical Cable Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global fiber optical cable market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for fiber optical cable? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The fiber optical cable market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider fiber optical cable market; and compares it with other markets.