The Fiber Optic Cable Market size is estimated at USD 12.70 billion in 2024, and is expected to reach USD 19.77 billion by 2029, growing at a CAGR of 9.24% during the forecast period (2024-2029).
The Fiber Optic Cable Market is highly competitive, with key players such as Corning Inc., Leoni AG, Fujikura Ltd, and Hitachi Cable America Inc. (Hitachi Cable) alongside numerous regional firms. The barriers to entry for new players are moderate, which has led to an influx of regional companies seeking to enter the fiber optic cable industry.
In July 2023, CommScope announced to invest USD 60.3 million over the next four years to expand its manufacturing facilities based in North Carolina. These plans bolster CommScope's ability to meet U.S. supply demands driven by federal initiatives to bring 'Internet For All,' including in underserved and rural broadband markets, along with enhancing production capacity over the next four years.
In January 2023, Prysmian Group introduced its Sirocco HD micro duct cables with an 864-fiber version. The new cable boasts a fiber density of 9.1 fibers per square millimeter and can be installed in a 13-mm duct. The cable's diameter is 11.0 mm, making it possible to squeeze 864 fibers into it.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook