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Fiber Optic Cable Market Size to be Worth Around US$ 15 Billion by 2030

The fiber optic cable market size is predicted to be worth around US$ 15 Billion by 2030. The global fiber optic cables market is expected to expand at a CAGR of 7% during the forecast period 2021 to 2030. The development of new technologies in the telecom industry is expected to boost the global market during the forecast period. Developments in the telecom industry, including introduction of 4G LTE, 5G, and FTTH, have changed the manner in which services are delivered in the fiber optic cable market.

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A fiber optic cable is a type of network cable that contains strands of glass fibers inside an insulated casing. Fiber optic cables are designed for use in long-distance and high-performance telecommunication and data networking. Fiber optic cables support much of the world’s Internet service, telephone systems, and cable television networks.

A Key Driver

  • The global fiber optic cable market has witnessed significant growth over the last few years, due to the rising demand for high-speed connectivity, with the IT & telecommunication end-use industry segment holding a major market share. Industries such as energy & power, healthcare, and aerospace & defense are the leading verticals, in terms of adoption of the fiber optic technology.
  • Fiber optic cables have been witnessing high demand for a long time. While single-mode fibers had already witnessed high adoption among end-use industries and consumers, multi-mode fibers gained momentum recently. The deployment of multi-mode fibers in large-scale data centers and cloud services would continue to be high during the forecast period.
  • Applications in telecom and defense & aerospace industries, which require fiber optic cables, are anticipated to witness rise in demand during the second half of the forecast period. Improvements in the network technology in recent years have led to high-speed Internet connectivity and access to all applications requiring high-speed data such as videoconferencing, audio and video streaming, and cloud storage.
  • Fiber optic cable is the transmission method of choice when designing and implementing a reliable real-time video conferencing system without compromising on the quality of videos, audios, and data

Market Trend

  • The global fiber optic cable market is currently being driven by the global paradigm shift toward information-centric communication. Key enablers of the fiber optic cable deployment include continuously increasing demand for data services; propagation of the next-generation broadband know-how, which includes FTTx, LTE, and HSPA; and availability of low-cost tablet PCs and smartphones.
  • Fiber optic cable systems are evolving from the point-to-point application to a more complicated architecture. Currently, point-to-point unrepeated and repeated links primarily use two fibers, one in each direction. Availability of low-loss, low-cost couplers or development of transmission/receiving devices makes it possible to transform point–to-point links into a single fiber.
  • Multiplexing of various electric signals and transmitting them over a pair of fibers is the next stage of development. Numerous manufacturers have introduced fiber optics multiplex equipment as a substitute for the existing parallel coaxial cable links.
  • As for installation in operational applications, use of wavelength division multiplexing (WDM) is currently being considered as an option. The military is also using WDM in several of its system applications.
  • As a result of these advantages, the demand for fiber optic cables in various end-use industries is increasing. This is expected to boost the global fiber optic cable market during the forecast period.

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Major Challenges

  • Availability of limited industry standards has delayed the development of specific optical fiber cables for use in component-intensive local areas and subscriber networks and also, in the industrial environment. Firms are unwilling to allocate sizeable portion of their capital budget to a system, which may be incompatible with the associated system, or outdated.

Demand for High-speed Connectivity Emerges as Key Driving Force for Market Growth

The need to stay connected via the Internet has become crucial for individuals as well as international companies. Hence, companies in the fiber optic cable market are focusing on the deployment of cloud based storage solutions. As such, there is a growing need for sending and retrieving data at high speeds, high quality, and consistency. This has triggered the growth of the fiber optic cable market.

On the other hand, countries in Asia Pacific such as Singapore, South Korea, and Japan are at the forefront to provide high-speed connectivity. This explains why the revenue growth of Asia Pacific is anticipated to progress at an aggressive speed. Moreover, companies in the market for fiber optic cables are expanding their business in European countries including Latvia and Czech Republic due to high demands for faster Internet speed. Companies in the market for fiber optic cables are increasing their focus in developing economies, since governments are increasing efforts to fund projects of fiber optic networks in the transportation infrastructure.

Transportation of Large Digital Content through FEC Fuels Demand for Fiber Optic Cables

Advancements in technology are being observed in the fiber optic cable market in order to support the transport of huge volumes of digital content. The increasing use of direct detection techniques between transmitters and receivers is another key driver that is fueling market growth. As such, the fiber optic cable market is estimated to cross US$ 15 Bn by the end of 2030. Thus, coherent detection techniques such as forward error correction (FEC) are some of the game changers that are deploying high-speed data transfers.

The Google Fiber project is catching the attention of the U.S. companies in the market for fiber optic cables, where the project focuses on revamping the cities’ Internet network. The U.S. companies in the market for fiber optic cables are focusing on building state-of-the-art networks that are capable of transferring large gigabits of data within seconds.

High Capacity Base Transceiver Stations Hold Potentials to Solve Network Outage Issues

The fiber optic cable market is estimated to register a striking volume CAGR during the forecast period. Moreover, the telecommunication industry in developing countries such as Ghana is undergoing a significant change, which has triggered the demand for robust fiber optic cable networks. As such, the IT & telecommunication industry dictates the highest revenue among all industries in the market landscape. However, frequent network outages are some of the biggest challenges that operators need to address. Hence, establishing state-of-the-art optical plants, correct system configurations, and high capacity base transceiver stations are among few solutions that can solve the issue of network outages.

Companies in the fiber optic cable market are adhering to government regulations to bolster their credibility in the market. For instance, mobile network operators (MNOs) in Ghana opine that the National Communication Authority and Ghana Telecommunication Chambers should collaborate with the MNOs to build uninterrupted fiber optic networks.

Prominent Regions

According to regional analysis, Asia Pacific is the dominant region of the global fiber optic cable market.  Growth of the market in the region can be attributed to the significant manufacturing ability of players operating in the Asia Pacific market to produce fiber optic cables for use in IT & telecommunication and aerospace & defense industries. China has proved to be the most diversified and dynamic market. A majority of single-mode optical fiber cables is expected to be installed in national and provincial trunks in China, and this is anticipated to drive the fiber optic cable market in Asia Pacific in the next few years. China held a major share of the Asia Pacific fiber optic cable market, in terms of revenue, followed by Japan, in 2019. However, in terms of revenue, the market in India is anticipated to expand at a significant CAGR during the forecast period. Additionally, North America is focusing on the adoption of fiber optic cables in order to strengthen its IT & telecommunication infrastructure and defense forces. The U.S. is home to several well-established players that design and offer fiber optic cables. Thus, rising demand for fiber optic cables in IT & telecommunication and aerospace & defense sectors is anticipated to boost the fiber optic cable market in North America during the forecast period. The market in Europe is estimated to witness prominent growth during the forecast period. The fiber optic cable market in Middle East & Africa and South America is expected to witness moderate growth in the near future.

Key Players:

Key players operating in the global fiber optic cable market are Corning Inc., Prysmian Group, HTGD, Furukawa Electric Co., Ltd., Yangtze Optical Fibre and Cable (YOFC), Sumitomo Electric Lightwave Corp., Tongding Interconnection Information Co. Ltd, CommScope, and Sterlite Tech.

Market Segmentation

By Fiber Type

  • Single-mode Fiber
  • Multi-mode Fiber
  • Others

By Cable Design

  • Ribbon Tube
  • Loose Tube
  • Tight Buffered
  • Central Core
  • Others

By Deployment

  • Underground
  • Underwater
  • Aerial
  • Others

By End-use Industry

  • IT & Telecommunication
  • Energy & Power
  • Healthcare
  • Aerospace & Defense
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

The main objective of this report is to define, describe, and forecast the global market by types, application, manufacturers, and regions. The report provides detailed information about the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the market. The report aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the global market. The report also attempts to forecast the market size of the 5 main regions: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It strategically profiles the key market players and comprehensively analyzes their core competencies. It also tracks and analyzes the competitive developments, such as joint ventures, mergers and acquisitions, new developments, and Research and Development (R&D) activities, in market.

COVID-19 Impact

Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost 100 countries around the globe with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect the research department explosive market in 2020.

COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets.

The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations; travel bans and quarantines; restaurants closed; all indoor events restricted; over forty countries state of emergency declared; massive slowing of the supply chain; stock market volatility; falling business confidence, growing panic among the population, and uncertainty about future.

Major highlights of Report:

  • Figures related to sales volume, market remuneration, and segmental shares
  • Featuring market dynamics
  • Growth prospects and expansion graph
  • PROCON study of direct & indirect sales channels
  • Profiles of prominent traders, dealer, and distributors in the industry

Geographical landscape: North America, Europe, Asia-Pacific, South America, Middle East and Africa

  • Industry forecasts based on region and at country level
  • Data about sales volume recorded, industry share held, and profit margins amassed
  • Overall remuneration and estimated growth rate for each regional market

Major Key Points Covered in Report:

Executive Summary: It includes key trends of the research department explosive market related to products, applications, and other crucial factors. It also provides analysis of the competitive landscape and CAGR and market size of the research department explosive market based on production and revenue.

Production and Consumption by Region: It covers all regional markets to which the research study relates. Prices and key players in addition to production and consumption in each regional market are discussed.

Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the Research department explosive market.

Market Segments: This part of the report discusses about product, application and other segments of the research department explosive market based on market share, CAGR, market size, and various other factors.

Research Methodology: This section discusses about the research methodology and approach used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.

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The post Fiber Optic Cable Market Size to be Worth Around US$ 15 Billion by 2030 appeared first on Flair Insight.

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