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The global fiber-to-the-premises (FTTP) market is expected to reach almost $55 billion by 2030, according to a new report.

By: Brad Randall, Broadband Communities

Rising trends of remote work and online education, backed by government initiatives and funding programs, will continue to drive demand for broadband into the coming years.

That finding was included in a new report from ResearchAndMarkets.com, which has predicted that growth will drive the global broadband market to be worth approximately $54.7 billion in 2030.

In 2023, the global broadband market was valued at $25.1 billion, according to ResearchAndMarkets.com, a source for international market research reports and market data.

The company’s recent findings predict the broadband market will grow with a compound annual growth rate (CAGR) of 11.8 percent between 2023 and 2030.

Surging demand for reliable connections, high speeds, and the continued production of smart devices is a key driver behind growth, a summary of the company’s findings stated.

“Secondly, advancements in fiber optic technology and network architectures are reducing deployment costs and improving the efficiency of fiber networks,” a summary of the report explained.

The report, titled the Fiber-to-the-Home/Building Business Report for 2024, also surmised the 50 Mbps to 100 Mbps download speed market segment for FTTP applications would reach $24.9 billion by 2030.

A key finding included in the report’s summary was continued growth in China.

The report forecasted the Chinese broadband market as growing “at an impressive 13.4% CAGR to reach $15.5 billion by 2030,” the summary stated.

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