NEW YORK, Dec. 1, 2016 /PRNewswire/ -- The Fiber-Optic Cable Manufacturing industry shored up connections over the past five years, with revenue anticipated to grow at an annualized rate of 3.1% to $2.4 billion in 2016. During the period, the industry benefited from a rise in demand for fiber-optic networks and fiber-optic cable.
For the full report, visit IBISWorld's Fiber-Optic Cable Manufacturing in the U.S. industry report page.
Consumers have increasingly demanded high-speed internet in their homes and on mobile devices, underpinning this trend. As a result, wireless carriers and cable providers are demanding fiber-optic cable at increasing rates. The ramp-up in fiber-optic cable networks has expanded the speed and size of wireless carrier and cable provider data networks, providing higher-speed data transmission and larger volume data transfers. Despite a decline in revenue in 2012 and 2013, the industry was able to rebound quickly. Industry revenue is projected to continue growing in 2016, increasing 9.6% due to wireless upgrades and growing rural broadband demand.
The next five years will bring continued revenue growth for the industry. According to IBISWorld Industry Analyst Dmitry Diment, "Consumer demand for high-speed internet on mobile devices will likely accelerate over the period, resulting in the widespread upgrade of wireless network services to compete for consumers' dollars." As a result, industry revenue is expected to rise over the five years to 2021.
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