Northbrook, IL 60062 -- (SBWIRE) -- 11/07/2023 -- The dark fiber market was valued at USD 6.6 billion in 2023 and is estimated to reach USD 11.9 billion by 2028, registering a CAGR of 12.5% during the forecast period. The growth of the dark fiber market is governed by the rising demand for 5G network, increasing demand for internet bandwidth, and growing demand for reliable and secure network.
In the telecom and networking industry, there is an increased demand for the 5G network and its needs, such as cloud-based networking, gaming, video streaming, etc. The increased demand for high internet speed with proper connectivity can be assured by dark fibers.
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Long-haul fiber to account for the larger share of the dark fiber market for durin the forecast period
The long haul segment held the largest share of the dark fiber market in 2022 and is estimated to grow at the highest CAGR during the forecast period. The deployment of long haul networks has been increasing to meet the growing demand for high-speed and reliable connectivity across different regions. The proliferation of digital services, cloud computing, streaming media, and Internet of Things (IoT) devices has led to an exponential increase in data traffic. Long haul networks are essential for transporting this massive volume of data over long distances efficiently. The growth of IXPs has led to an increased demand for long haul networks. To keep up with the increasing demand, telecommunication companies, infrastructure providers, and governments are continuing to invest in expanding and upgrading long haul networks, deploying new submarine cables, expanding fiber-optic networks, and exploring innovative technologies to enhance long-distance connectivity.
BFSI end-user segment to exhibit significant growth in terms of dark fiber market during the forecast period
Dark fiber can play a crucial role in a BFSI organization's disaster recovery and business continuity strategy. Institutions can create geographically diverse and independent network paths by establishing redundant connections through dark fiber. In the event of a network failure or a disaster in one location, traffic can be seamlessly rerouted to alternative paths, ensuring uninterrupted services and minimizing downtime. Banks and financial services companies are increasingly turning to dark fiber for their bandwidth-intensive core transport, including file sharing, large file transfers, business intelligence applications, and data analysis. .
Dark fiber market in Asia Pacific estimated to grow at the fastest rate during the forecast period
The dark fiber market,in Asia Pacific is expected to grow at the highest CAGR during the forecast period. Major countries in Asia Pacific, such as China, India, Japan, and South Korea, are having a huge capacity for dark fiber network services. Some of the major drivers that are responsible for increasing the demand for dark fiber in Asia Pacific include the rise in the income levels, lifestyle changes, and need for faster internet technologies. With emergence of advanced technologies such as AI, IoT, and Big Data, there is an increased momentum for the implementation of large-scale data centers across the region. Major technology gaiants like Alibaba (China), Facebook (US), Amazon (US), Microsoft (US), Google (US), and Baidu (China) have not only established their datacenters in the region but are also planning to expand their dominance in other regions. In Asia Pacific, the market is currently governed by Chinese and Indian consumers due of their increasing adoption rate of high-speed broadband services and mobile devices.
Major vendors in the dark fiber market include AT&T (US), Verizon Communications, Inc. (US), CenturyLink (Lumen Technologies) (US) Colt Technology Services Group Limited (UK), Comcast Corporation (US), Consolidated Communications (US), Exa Infrastructure (GTT Communications, Inc.) (US), CenturyLink, Inc. (US), NTT Communications Corporation (Japan), Verizon Communications, Inc. (US), Windstream Communications (US), and Zayo Group, LLC (US), are some of the key players in the dark fiber market.