New York, US, July 26, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Fiber Optic Cable Market information by Type, by Application and Region – forecast to 2027” market size to grow at a compound annual growth rate of 11.8%.
Market Scope:
A fiber optic, simply put, is a transparent, flexible fiber made of silica (extruded glass) or plastic that works as a light pipe or waveguide to transmit light amid the fiber’s two ends. This is a cylindrical dialectic waveguide that transmits light along its axis through the total internal reflection process.
Dominant Key Players on Fiber Optic Cable Market Covered Are:
- ZTT International Limited (India)
- FOLAN (U.K.)
- Sumitomo Electric Ltd. (Japan)
- Hengtong (China)
- Fiber Home (China)
- FUJIKURA LTD. (Japan)
- Futong (Hong Kong)
- Prysmian Cables & Systems Limited (U.K.)
- Group Co. Ltd. (China)
- TongDing YOFC (China)
- Nexans S.A. (France)
- Furukawa Electric Co. Ltd. (Japan)
- Jiangsu Etern Co. Ltd. (China)
- Corning Inc. (U.S.)
- Kaile Science and Technology Co Ltd. (China)
- Belden (U.S.)
- Jiangsu Fasten Company Limited (China)
- SterliteTech (India)
- CommScope Inc. (U.S.)
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Market USP Exclusively Encompassed:
Market Drivers
As per the MRFR report, there are numerous factors that are propelling the fiber optic cable market growth. These include rapid pace of industrialization, need for high bandwidth that speeds to consume and share content, advances in broadband architecture like fiber to the home (FTTH), fiber to the building (FTTB), fiber to the cabinet (FTTC), and fiber to the premise (FTTP), growth in the importance of storage, data transfer, IoT, and increasing use of connected devices like wearables, tablets, and smartphones. Additional factors adding market growth include the cables acting as the key medium for reliable and fast data transfer and the different advantages of optical fiber cable, such as the ability to offer greater bandwidth and interferences from electricity and vibrations. The emergence of connected vehicles and the launch of new airlines are the fiber optic cable trends.
On the contrary, growing wireless communication systems and high initial cost may limit the global fiber optic cable market growth over the forecast period.
Browse In-depth Market Research Report (110 Pages) on Fiber Optic Cable:
https://www.marketresearchfuture.com/reports/fibre-optic-cable-market-1072
Segmentation of Market Covered in the Research:
The Market Research Future report offers an inclusive analysis of the fiber optic cable market based on application and type.
By type, the global fiber optic cable market is segmented into multi-mode and single-mode. Of these, the single-mode segment will lead the market over the forecast period. It will touch USD 7.91 billion at an 11.48% CAGR by 2025. The wire head’s small diameter gives it a key benefit over its counterpart for its high bandwidth providing capacity and low attenuation.
By application, the global fiber optic cable market is segmented into CATV, local mobile metro network, FTTX, submarine cable, long-distance communication, other local access network, and others. Of these, the long-distance communication segment will dominate the market over the forecast period. It will touch USD 3.88 billion by 2025.
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Regional Takeaway
APAC to Spearhead Fiber Optic Cable Market
By region, the global fiber optic cable market covers growth opportunities and the latest trends across Europe, the Asia Pacific (APAC), North America, South America, and the Rest of the World (RoW). Of these, the APAC region will spearhead the market over the forecast period. The inclination of residents to adopt latest technologies like cloud services and internet of things (IoT), rapid industrialization, infrastructural development, increasing adoption in different applications, increasing adoption of fiber optic cables in different applications such as industrial, CATV, utility, premises, and telecom in the US, China being the key hub for manufacturing activities globally, and growing industrial activities on South Korea and India are adding to the global fiber optic cable market growth in the region. South Korea, Australia, India, Japan, and China are the key fiber optic cable markets.
North America to Have Healthy Growth in Fiber Optic Cable Market
In North America, the global fiber optic cable market is predicted to have healthy growth over the forecast period. The early adoption of upcoming and latest technologies, the emergence of 5G and 4G communication technologies, data speed needs of various industries, and the booming IT sector are adding to the global fiber optic cable market growth in the region.
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Industry News
February 2021- Ministry has approved a hot stake in IBC’s fiber-optic venture.
February 2021- Costa Rica has more than doubled the fiber optic cable extension in its high-speed networks owing to the coronavirus pandemic.
February 2021- KKR will soon acquire the wholesale fiber optic network of Telefonica Chile to develop the first open access network in Chile.
COVID-19 Impact on the Global Fiber Optic Cable Market
Almost every industry has experienced the brunt of the ongoing COVID-19 pandemic, with the fiber optic cable market being no different. This is owing to supply chain disruptions of fiber optic cable manufacturing companies due to government-imposed restrictions. On the brighter side, the reopening of construction projects and industrial zones and the relaxation of certain laws are likely to offer potential growth to the market. The plans to deploy 5G services in developed and developing countries may boost the market growth. The demand for high-quality audio and video transmission and seamless network connectivity for online meetings and watching movies & series on Netflix and others is likely to have a positive impact on the market growth.
Impact of COVID-19 on the Global Fiber Optic Cables Market:
https://www.marketresearchfuture.com/report/covid-19-impact-fiber-optic-cables-market
Competitive Landscape:
The fiber optic cable market is highly competitive and fragmented with the presence of several well-established domestic and international players. These industry players have incorporated several strategies to stay at the forefront and also cater to the consumer’s burgeoning needs, such as partnerships, mergers and acquisitions, collaborations and joint ventures, new product launches, and strategic alliances, among others. Besides, they are also investing in research and development activities to strengthen their portfolios and create a hold in the market.
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.