United States And European Fiber Optic Cable Market Size

US & European Fiber Optic Cable Market Analysis

The United States And European Fiber Optic Cable Market size is estimated at USD 3.10 billion in 2024, and is expected to reach USD 5.48 billion by 2028, growing at a CAGR of 9.66% during the forecast period (2024-2028).

• The evolution of fifth-generation networks & fiber optic infrastructure has driven digital transformation across industries. Optic fiber cable presents better security, reliability, bandwidth, and security than copper cables. The distinction between a fiber optic cable and a copper wire is that the fiber optic cable utilizes light pulses to transfer information down the fiber lines rather than electronic pulses to transmit information through the copper lines.
• With increasing online transactions & virtual meetings, companies need 5G and optic fiber cable to remain competitive. For instance, according to the European Central Bank, online payments share in consumers' non-recurring payments increased to 17% in 2022 from just 6% in 2019. Hence, to support such trends robust infrastructure such as high-speed internet is required which is anticipated to create opportunities in the studied market.
• Furthermore, fiber optic cables are cost-effective, convenient, & easy solutions for numerous industrial applications, like lighting and decorations, data transmission, surgeries, and mechanical inspections. The growing work-from-home & hybrid work model also drives the need for FTTH throughout the United States and Europe.
• Data traffic growth, specifically Internet Protocol (IP), drives the surge in need for high network bandwidth. Prominent service providers registered bandwidth doubling on their backbones every six to nine months. Due to growing internet traffic, bandwidth doubles every 6 to 9 months.
• The expansion of fiber-integrated infrastructure in the US and the European market has also immensely raised the need for fiber-optic cables, particularly in the telecom industry. Fiber-optic networks and fiberoptic wires have also greatly improved owing to broadband installations. These architectures include FTTH, FTTP, FTTC, & FTTB.
• The increase in the need for connectivity in developing nations for fiber-optic producers offers significant business prospects. Yet factors like the advancement in wireless solution demand & the difficulty of deploying fibreoptic cables provide several operational difficulties for the market's growth.
• Macroeconomic factors also influence the studied market's growth significantly as both the United States and the European regions have been witnessing economic downturns post-covid. Furthermore, geopolitical issues such as the Russia-Ukraine war, and the US-China disputes also creates a challenging environment for an uninterrupted growth of the market.