Fiber Optic Cable Market Research Report – Forecast to 2025
Fiber optic cables consist of plastic or glass threads of wires with the ability to transfer data at increased speeds. The telecommunication companies prefer to implement fiber optic cables in their activities. It is also popular among consumers due to its high data volume capacity. The lightweight feature of these cables along with their low susceptibility to interference and noise make it an extremely treasured mode of connectivity. The global fiber optic cable market is projected to develop at 11.18% CAGR during the forecast period ranging from 2018 to 2025. According to a currently published report by Market Research Future (MRFR) the global fiber optic cable market is expected to attain a turnover of almost USD 11.67 bn by the conclusion of 2023. The rising demand for high-speed bandwidths with the least latency is likely to be the prime driving force behind the market. The high volume of data volume along with the adoption of cloud services to manage and store large data sets is anticipated to spike up the growth of the market over the assessment period (2018-2025). Augmenting resistance to shifting temperatures and electromagnetic intervention is likely to be an advantage for the market. Poor operational maintenance and expenditure costs are projected to bode well for the growth of the market. The friable nature of the strands can be considered as a threat to the market growth. However, several technological progressions and adoption of novel tougher materials can spur the market demand during the future.
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MRFR’s report segments the global market based on application and type. Based on type, the global fiber optic cables market is segmented into multi-mode and single-mode. Under the type segment, single-mode segment is expected to grow at a rapid rate at a CAGR of 11.48% during the estimation period. It ruled the market during 2017 and is expected to attain a worth of USD 7.91 bn by the conclusion of 2025. The smaller diameter of the wire head acts as a prime advantage over its counterpart due to its high bandwidth-providing ability and low attenuation. Based on applications, the global fiber optic cables market is segmented into submarine cable, long-distance communication, local mobile metro network, FTTX, other local access network, CATV, and others. Within the application segment, the long-distance communication sector is likely to dominate the fiber optic cable market till the conclusion of the review period and is estimated to attain a worth of USD 3.88 bn by 2025. However, the FTTX segment can expand at a rapid rate of 13.30% CAGR during the review period. The development of the telecom sector is the primary force influencing the expansion of both of these applications. With the advent of new communication technologies, the market is bound to get accelerated throughout the assessment period.
Based on geography, the worldwide fiber optic cable market is segmented into North America, Asia Pacific (APAC), Europe, and the Rest-of-the-World (RoW). Asia Pacific market is likely to witness robust growth over the assessment tenure. Factors like fast industrialization coupled with the proclivity to incorporate upgraded technologies such as cloud services and internet of things (IoT), are predicted to influence the regional market positively.
Global fiber optics cables market is dominated by key players such as Prysmian Cables & Systems Limited (U.K.), CommScope Inc. (U.S.), Hengtong (China), Kaile Science and Technology Co, Ltd. (China), Nexans S.A. (France), Furukawa Electric Co. Ltd. (Japan), SterliteTech (India), FUJIKURA LTD. (Japan), Fiber Home (China), Futong (Hong Kong), Belden (U.S.), ZTT International Limited (India), Jiangsu Fasten Company Limited (China), YOFC (China), Jiangsu Etern, Co., Ltd. (China), TongDing, Group Co., Ltd. (China), FOLAN (U.K.), and Corning Inc. (U.S.), and Sumitomo Electric, Ltd. (Japan).
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Global Fiber Optic Cable Market, Type (Single-mode, Multi-mode), Application (Long Distance Communication, Submarine Cable, FTTX, Local Mobile Metro Network, CATV), Region — Forecast till 2025
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