Fiber optic cables are composed of plastic and glass inner core which is surrounded by a cladding and is encased in an outside jacket. Fiber optic cables are new technology which uses optical fiber of plastic or glass threads made of 100 or more incredible thin strands of the same to transmit data. As the data is transferred through a medium of light, two things that keeps the light inside fiber optics is its core and the layer over the core which is cladding. The other fibers carry light signal light in modes which follow light beam down the fiber. Single mode fiber has a thin core of about 5-10 micron and all the signal in the mode travels straight without bouncing off the edges. Application of single mode is widely adopted in telephone signal, cable TV, and the internet and can send information over 600 miles. Where else multi-mode fiber optic are used for a short distance such as linking computer network together for sharing information.
Surge in connected devices such as wearables, smartphones, and tablets will drive the global fiber optic cable market. The global fiber optic cable market is estimated to reach a market value of US$ 6,783 million in 2019 and is forecast to reach US$ 10,140 million by 2027, growing at an estimated CAGR of 5.2% over the forecast period
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The growth in importance of data transfer and storage, Internet of Things, more number of connected devices, such as smartphones, tablets, and wearables are the major factors for the growth of the fiber optics cable market. Moreover, the market is expected to grow rapidly as these cables act as the main medium for fast and reliable data transfer. Moreover, due to many advantages of the fiber optics such as immunity to interferences from vibrations and electricity, ability to provide greater bandwidth also fuel growth. However, easy access to the internet in remote areas using wireless devices, and the high initial cost restrain the growth of the market.
In spite of many advantages over alternative solution, Fiber Optic Cable Market growth is taking a hit due to high upfront costs and complex technicalities in the installation. Many small and medium enterprises face cost challenge and refrain from opting for fiber optics.
The detailed research study provides qualitative and quantitative analysis of Fiber Optic Cable market. The market has been analyzed from the scope of demand as well as supply. The analysis of demand covers market revenue across regions and further also across all the major countries. The analysis of supply covers the major Fiber Optic Cable market players and their regional and global presence and strategies. The geographical analysis emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
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Key Findings of the Report:
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Key Market Segments of Fiber Optic Cable Market are:
Fiber Optic Cable Market By Type
- Multimode market segment held more accounted for more than US$ 3.3 billion in 2018 and is estimated to witness robust growth over the forecast timeframe. The growth is attributed to its high quality and accuracy. Plastic optic fiber is projected to grow at highest growth rate. The high growth is due its adoption across varied industry verticals.
- Telecom and Broadband market segment is expected to dominate during the study period, owing to growing adoption of technology in data transmission services. Moreover, increasing cloud based services such as video on demand & audio video services expected to stimulate Fiber Optic Cable Market growth.
- In 2018, North America Fiber Optic Cable Market held the largest market share, accounting for nearly 30% of total global industry. Asia Pacific fiber optics cables market is expected to witness significant growth during the forecast period owing to rise in technological advancements in the region
- Key industry participants in the Fiber Optic Cable Market are Corning Incorporated, Sterlite Technologies Limited, Finolex Cables Limited, OFS Fitel, LLC, Prysmian Group, AFL, Optical Cable Corporation (OCC), Birla Furukawa Fiber Optics Limited, and Yangtze Optical Fiber and Cable Co., Ltd. (YOFC).
- Geographical expansion, introduction of new products, acquisition and collaboration are some of the strategies adopted by companies to expand their reach and gain competitive advantage.
Fiber Optic Cable Market By Application
- Single Mode
- Plastic Optical Fiber
Fiber Optic Cable Market By Geography
- Cable Television
- Oil & Gas
- Private Data Network
- Telecom & Broadband
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- North America
- Rest of North America
- The UK
- Nordic Countries
- Benelux Union
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
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