The global fiber optic cable market was valued at USD 9,236.7 million in 2020, and it is expected to reach USD 20,832.9 million by 2027, registering a CAGR of 14.6% during the period, 2021-2027.
Rising penetration of internet followed by increase in adoption of fiber to the home (FTTH) connectivity are the major driver for fiber optic cables market. Fiber continues to be the most appropriate medium to carry vast amount of data and information over lengthy distances. Fiber optic cables have the capability to transmits large amount of data at very high speed, owing to which the Internet providers are one of the prominent customers of fiber optic cables. Users can see a marked decrease in the time it takes to transfer files and information across networks. Therefore, growing penetration of IT companies followed by increasing reliability on internet is expected to spur market growth.
Get a Sample Copy of the report at https://www.alltheresearch.com/sample-request/108
Rising media & entertainment industry is also expected to positively drive the fiber optic cable market demand. Over the last decade, the utility of fiber optic cables in the transmission of cable signals has increased tremendously. These cables are an ideal solution for transmitting signals in high-definition televisions, due to their greater bandwidth and speed. With the help of fiber optic cables, networking between several computers in a building or across nearby building has now become faster and easier. Moreover, increasing internet requirement in schools, colleges, offices, and restaurants is further expected to positively drive the fiber optic cables market over the coming years.
Furthermore, the rising popularity for high-quality data transmissions, better audio and video qualities have majorly impacted the demand of fiber optic cable. Additionally, the growing awareness about the advantages of this technology and the emergence of 5G technology globally are also important factors that are flourishing the growth of the fiber optic cable market. Moreover, the rapid improvement in the technology and various development in the optical fiber cable is also fuelling the growth of fiber optic cable market.
Moreover, the Covid-19 Pandemic has greatly impacted the fiber optic market globally. This outbreak has resulted in lockdowns being imposed in most countries, which, in turn, has shut down several businesses. However, cut to 2020, when several companies resumed their operations, there was a shift in the work-from-office culture to work-from-home culture. This trend has increased the demand for internet, and in-turn, positively driving the growth of fiber optics cable market.
On the basis of fiber type, the fiber optic cable market can be segmented as plastic optical cable and glass optical cable. Among these two, the glass optical cable was dominating the market in the year 2020 and is expected to show similar trends in the forecast period. The glass fiber optic cables can be applied for longer-distance transmission at higher-speed in office networks. Moreover, Glass fiber cables can be used in high-temperature applications such as ovens, furnaces and condensers in large engines, as well as in extremely low-temperature areas such as cold storage warehouses. Since glass cores are efficient at transmitting light and allow significantly higher transfer speeds, glass optical fibers can be used over long sensing distances. They are adept to hostile conditions and are more durable than plastic optical cable. Plastic optical fibers are maily used in home networks, digital home appliances and car networks. Plastic fibers have an important position in military communication network and multimedia equipment in the data transmission because of their low-speed and short-distance (up to 100 meters) applications.
On the basis of End-Use Industry, the global fiber optic cable market can be segmented as IT and Telecom, BFSI, Defense and Aerospace, Manufacturing and other End-Use industry such as Healthcare, Government etc. Among these, IT and Telecom is the largest consumer of optical fiber cable market. This is due to rising telecommunication industry in the developing economies such as India, China, Indonesia, along with rising government funding in infrastructure and increasing demand for high bandwidth communication will further cater ample new opportunities that will lead to the growth of the optical fiber cable market in the forecast period. ?
There are several reasons that are leading to the widespread adoption of fibre optic cable in telecommunications. Fibre optic cable provides a much higher bandwidth allowing more data to be delivered and are much lighter than the coaxial cables that might otherwise be used. With the help of fiber optic cables, networking between several computers in a building or across nearby building has now become faster and easier. Fibre optics do not suffer from stray interference pickup that occurs with coaxial cabling. Owing to these advantages, fiber optic cables are more prominently used in IT & Telecom industries.
Based on the regions, the global Fiber Optic Cable market has been segmented as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia-Pacific region has dominated the fiber optic cable market primarily due to increase in penetration of optical fiber technologies in developing economies such as China, India, Indonesia and many more. In the Asia Pacific region, China has remained the largest fiber optic cables consumer driven by significant investments in the fiber networks to increase internet penetration and 5G adoption. China not only dominates the regional market but also the global fiber optic cable market. The rising adoption of fiber optics cables to transmit signals with a minimum amount of loss has been growing in the country.
India and Indonesia too are prominent countries contributing to the growth of global optic fiber market. In August 2020, Narendra Modi, the Prime Minister of India, inaugurated submarine optical fiber cable (OFC) connecting Chennai and Andaman and Nicobar. The connectivity will enable the delivery of faster and more reliable mobile and landline telecom services to Andaman and Nicobar Islands, on par with other parts of India. In 2019, Indonesia has completed its Palapa Ring Project, which is a fiber-optic network of 13,000 km. This project will help in bringing high-speed internet connection to many of the nation’s poorest eastern region.
The major players operating in the global Fiber Optic Cable market includes, Corning Inc., Sumitomo Electric Industries Ltd, Finisar Corporation, Leoni AG, Prysmian Group, Coherent Inc., Furukawa Electric Co. Ltd, Cable & System (LS Group), Sterlite Technologies Ltd, Yangtze Optical Fiber and Cable Joint Stock Ltd Co. among many others.
|1||Rising adoption of FTTH (fiber to the Home) connection high speed broadband network connectivity in buildings such as residential areas, apartment buildings and personal businesses is highly increasing the demand for fiber optic cable market.||Positive|
|2||Increase in investment and advent in technologies such as 5G, Big Data, and IoT that rely heavily on real-time data collection and transfer will positively drive the global fiber optic market growth.||Positive|
Ask for free product review call with the author
Share your specific research requirements for a customized report
Request for due diligence and consumer centric studies
Request for study updates, segment specific and country level reports
Section 1: Introduction
Section 2: Research Methodology
Section 3: Executive Summary
Section 4: Premium Insights
Section 5: Market Overview & Competitive Landscape
Section 6: Market Size and Share Analysis
Section 7: Market Dynamics
Section 8: Future Forecast & Impact of COVID-19
Section 9: Regional Market Size and Share Analysis
Section 10: Company Profile