Press Release

GCC Fiber Optic Cable Market to Flourish at a CAGR of Around 8.4% During 2024–30

The GCC Fiber Optic Cable Market size is projected to grow at a CAGR of 8.4% during the forecast period of 2024–30, cites MarkNtel Advisors in the recent research report. The market's growth is attributed to increased broadband penetration, rising Internet TV streaming services, and overall growth in the country's telecommunications sector. Furthermore, the increasing deployment of fiber optic cables in various end-user industries such as energy, electricity, military, and others, which require quicker and more reliable data transfer, propels market growth & expansion.

The GCC region is experiencing a spectacular spike in data center growth, owing to increased digital transformation activities, rising cloud use, and a growing demand for superior technological infrastructure. As the region invests heavily in IT ecosystems, businesses are actively expanding their data center capacities to manage increased data loads and assure sustainable digital operations. This rapid expansion is expected to increase demand for fiber optic cables, which allow for the rapid and reliable transmission of large volumes of data within and between data centers. Fiber optic cables' low latency and little signal loss provide efficient and reliable communication, making them suitable for connecting servers, storage systems, and networking equipment in data centers, further driving market expansion.

Furthermore, the rapidly expanding oil and gas sector in the GCC countries is likely to drive market expansion. The growing use of fiber optic cables to send massive amounts of data, such as seismic information and real-time monitoring data, from remote offshore areas to onshore control centers is driving up demand in the oil and gas sector, augmenting market size & volume, further states the research report, “The GCC Fiber Optic Cable Market Analysis, 2024.”

GCC Fiber Optic Cable Market Segmentation Analysis

Multi-Mode Fiber Segment Holds Major Market Share

Based on the fiber type, the market is segmented into single-mode fiber and multi-mode fiber. Among them, the multi-mode fiber segment captured a major market share and is expected to dominate the market during the forecast period as well, owing to the increased deployment of multi-mode fiber cables for shorter-distance applications within data centers and local area networks (LANs). The use of multimode fiber in new technologies like 5G networks and smart city initiatives further accelerates its market growth.

Furthermore, the rising demand for high-speed broadband services in densely populated countries such as Sharjah, Abu Dhabi, etc., combined with the proliferation of cloud computing, video streaming, and Internet of Things (IoT) applications, is driving the deployment of multi-mode fiber networks to meet the growing bandwidth demands of residential and commercial users.

The UAE to Lead the GCC Fiber Optical Cable Industry

The UAE segment is expected to hold a considerable share due to its diverse economy and growing sectors such as retail, e-commerce, and tourism, which drive significant demand for packaging solutions across a wide range of end-user industries. Furthermore, the UAE's ambitious projects, such as the National Vision 2021 and the UAE Vision 2021, prioritize the construction of modern telecommunications infrastructure, particularly fiber optic networks, to help the country shift to a knowledge-based economy.

Additionally, the UAE's aggressive efforts to expand fiber optic connectivity are demonstrated by major projects like Etisalat's FTTH (Fiber to the Home) network deployment and the nation's dedication to smart city development in cities like Dubai and Abu Dhabi. Furthermore, the UAE is more desirable for investment in telecommunications infrastructure, which supports market expansion, due to its distinct geographic position as a regional economic center.

GCC Fiber Optic Cable Market Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, Corning Optical Communications GmbH & Co. KG, Prysmian Cavi E Sistemi S.r.l (DMCC Branch), Sumitomo Electric Industries, Ltd., Hengtong Optic-Electric Egypt Co., S.A.E, Sterlite Technologies Limited, CommScope Holding Company Inc, Arabian Fiber Optic Cables Manufacturing LLC, Naficon Fiber Optic Manufacturing LLC, HELUKABEL Middle East DWC LLC, Middle East Fiber Cable Manufacturing Co. (MEFC), Electra, Oman Fiber Optic Co. S.A.OC, and others are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the region?
4. How has the industry been evolving in terms of geography & solution adoption?
5. How has the competition been shaping up across various countries?
6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?