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The Fiber Optic Cable Market Registered US$ XX Bn in 2019 and it is Estimated to Reach More than US$ XX Mn by 2028, Likely to Grow with a CAGR of 10.8% During the Forecast Period.
A fiber optic cable is a network cable that consists strands of glass fibers inside an insulated casing. They are designed for high performance, long distance data networking, and communication. As compared to wired cable, fiber optic cables offer high bandwidth and transfer data over a long distance. Fiber optic cable supports cable television, internet, and telephone cable systems.
Growing demand for high-speed data transmission, internet of things, and the increasing number of connected devices are the major factor which is driving the fiber optic cable market. Furthermore, technological advancements in the telecommunication sector have increased the deployment of broadband network architectures. Fiber to the building and fiber to the home are the few leading broadband networking architectures that require the large-scale deployment of fiber optic networks.
Fiber optic cable is used in security option where the traditional copper cable cannot tapped it. This is another factor fueling the fiber optic cables market. However, the high manufacturing cost and complex installation are hampering the fiber optic cable market.
By Cable Type, Single Mode Segment is anticipated to Expand at Rapid Pace during the Forecast Period
Single-mode is anticipated to be the fastest-growing fiber optics segment during the forecast period. Single-mode is used in long-distance communication applications such as television and phone companies. Single cable uses lasers as a light source, though they are expensive but it is much faster than multimode. This type of cable is used to transfer data at speed of up to 10GB into thousands of kilometers.
By Application, IT and Telecom Segment Contributed Significant Share in Global Fiber Optic Cable Market in 2019.
The IT and Telecom segment is projected to register the highest growth, in terms of value as well as a volume, in the global fiber optics market. The increasing number of internet users could be a major factor driving the expansion of the fiber optics market within the communication segment. Moreover, the expansion in telecom, premises, utility and industrial sectors is driving the growth of the fiber optics market. Moreover, the huge population base of China and India is one among the main drivers for growth in the telecom market within the region, which successively, is predicted to fuel the fiber optics market over a forecasted period.
The Market in the Asia Pacific occupied a Significant Market Share in 2019.
By geography, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The Asia-Pacific region is dominated by two countries i.e. India and China. These regions are spearheading revenue growth, due to the technological advancements and large-scale adoption of the technology in IT and Telecommunication also as the administrative sector. Additionally, the increasing application of fiber optics within the medical sector is catapulting growth across countries, like China, Japan, and India. This is often propelling the general demand at a big rate.
Additionally, the consistent rise within the use of smartphones and internet facilities within the region contributes to the adoption of optical fiber cables for telecommunication applications. 5G connections (excluding IoT) are anticipated to succeed in USD 690 million in Asia-Pacific by 2028, accounting for about 60% of the worldwide 5G connections, consistent with GSMA.
Prominent players are involved in wide research and implementing advanced technologies to innovate their products. This may also help them in improving their position within the market against their competitors. Competition among the players within the global Fiber Optic Cable market is projected to extend considerably during this tenure. Key industry players such as Prysmian Group, AFL Global, Corning Incorporated, Sumitomo Electric Industries, Ltd, Leoni AG, LS Cable & System, Furukawa Electric Co. Ltd., Sterlite Technologies Limited, General Cable Corporation, Optical Cable Corporation, among others.
By Cable Type
By Fiber Type
- IT and Telecom
- Defense and Aerospace
- North America
- Asia- Pacific (APAC)
- Middle East and Africa (MEA)
- Latin America