The global telecom cable market is expected to reach an estimated value of USD 50.8 billion by 2023 with a CAGR of 5.4 percent from 2018 to 2023, predicts Lucintel. The major growth drivers for this market are increasing demand for Internet connectivity, increasing subscriber base, and growing investment in telecom infrastructure. Emerging trends, which have a direct impact on the dynamics of the telecom cable industry, include the development of ultra-fast broadband networks and integration of FTTH and wireless technology.
Internal telecom and data cable is expected to remain the largest segment due to the increasing demand for high-speed device connectivity. Fiber optic telecom cable is expected to witness the highest growth during 2018-2023 owing to the increasing fiber to the home subscriber base and increasing investment in telecommunication infrastructure.
Within the telecom cable market, telecommunication will remain the largest application due to the growing deployment of fiber optic cable for long range communication and digital transformation in the telecommunication industry. CATV is expected to witness the highest growth supported by increasing demand for high definition video content and growth in smart devices.
Asia-Pacific is expected to remain the largest region and witness the highest growth over the next 5 years due to the growing demand for cloud-based technology with high connectivity speed and increasing investment in IT infrastructure.