Fiber Optics Cable Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

 Optical fiber cable (OFC) plays a crucial role in modern telecommunication infrastructure. Over the last decade, fiber optics has become the preferred transmission medium to cater to aggressive bandwidth demands from various sources, including the Internet, e-commerce, computer networks, and multimedia.

Fiber optic cables offer the advantage of infinite bandwidth, which makes them capable of handling vast amounts of information. They are used to connect different network nodes in telecommunication networks, such as cell towers, data centers, and internet service providers, enabling the exchange of large amounts of data between different locations. Fiber optic cables have also enabled the development of high-speed internet connections and advanced communication technologies, such as video conferencing, online gaming, and cloud computing.

North America has obtained a prominent position owing to the increasing pace of fiber optic deployment in the country in recent times. For instance, according to the 2022 Fiber Provider Survey findings by the Fiber Broadband Association, US fiber-to-the-home (FTTH) deployments are expected to set a record in the coming years. The findings showed FTTH networks passed 7.9 million additional homes in the United States in 2022, despite supply chain and labor constraints.

According to the association, the jump in FTTH deployments is a result of significant government funding efforts, such as BEAD, RDOF, and Re-Connect, among others, which are beginning to have a direct effect. For instance, the Broadband Equity, Access, and Deployment (BEAD) Program provides USD 42.45 billion to expand high-speed internet access by funding planning, infrastructure deployment, and adoption programs in all 50 states, Washington DC, Puerto Rico, the US Virgin Islands, Guam, American Samoa, and the Commonwealth of the Northern Mariana Islands. The Fiber Optic Cable Market size is estimated at USD 11.63 billion in 2023, and is expected to reach USD 18.10 billion by 2028, growing at a CAGR of 9.24% during the forecast period (2023-2028).

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