New York, July 20, 2023 (GLOBE NEWSWIRE) -- According to the research report “Global Fiber Optic Cable Assemblies Market” published by Consegic Business Intelligence, the market was worth USD 5,366.15 Million in 2022 and is anticipated to reach over USD 10,398.65 Million by the year 2030, growing at a CAGR of 8.9%.
Fiber optic cable assemblies are standardized configurations of optical fibers and associated components designed to transmit data using light signals. The assemblies are crucial for enabling high-speed, long-distance data communication in various industries, including telecommunications, networking, data centers, and broadcast. In addition, fiber optic cable assemblies provide low signal loss and high bandwidth capacity and thus are ideal for transmitting large volumes of data quickly and reliably over long distances.
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The increasing investment by governments to provide high-speed internet connectivity is a major driver for the growth of the fiber optic cable assemblies market. Governments across the globe are implementing broadband expansion initiatives to ensure that high-speed internet connectivity is available to all citizens. Fiber optic cable assemblies play a crucial role in such initiatives by enabling the deployment of high-capacity fiber optic networks to deliver reliable and high-speed internet access to remote locations. For instance, in June 2023, the Department of Commerce invested USD 42.45 billion in the Broadband Equity Access and Deployment (BEAD) program to provide reliable, affordable, and high-speed internet to people all across America. The development of such programs contributes significantly in driving the growth of the fiber optic cable assemblies market to provide high-speed data connectivity.
Moreover, the development of smart cities is expected to create potential future opportunities for the growth of the fiber optic cable assemblies market. Fiber optic cable assemblies offer the necessary bandwidth and low latency required for smart city infrastructure. The cable assemblies enable seamless communication between sensors, devices, and systems, ensuring real-time data exchange and efficient operation of smart city components. However, the high cost of installation and deployment of fiber optic cable assemblies is restraining the market growth.
| Report Attributes | Report Details |
| Market Size By 2030 | USD 10,398.65 Million |
| Forecast Period | 2023-2030 |
| CAGR (2023-2030) | 8.9% |
| Base Year | 2022 |
| Study Timeline | 2017-2030 |
| Key Players | US Conec Ltd., Fiber Connection Inc., Finisar Corp., Optec Technology Ltd., Optical Cable Corporation, RF Industries, Infinite Electronics International, Inc., Samtec, Inc., TE Connectivity |
| By Cable Length | Custom and Standard |
| By Mode Type | Single-Mode and Multi-Mode |
| By Product Type | Fiber Jumpers, Long Length Assemblies, Connectorized Assemblies, and High Complex Breakout Assemblies |
| By End-User | Automotive, IT & Telecom, Healthcare, Defense, Government, and Others |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more |
| By Region | North America, Europe, Asia-Pacific, Latin America, Middle East & Africa |
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Fiber Optic Cable Assemblies Market Growth Drivers:
- Growing number of data centers is accelerating the growth of the fiber optic cable assemblies market to provide low-latency and high-speed connections.
- Expansion of the telecommunication network including mobile networks and broadband services is accelerating the market growth.
- Increasing investment by the government to improve the digital infrastructure is propelling the growth of the fiber optic cable assemblies market.
Restraints
- High cost of installation and deployment of fiber optic cable assemblies is restraining the market growth.
- Emergence of wireless technologies including 5G networks to provide higher speed and lower latency is hampering the market growth.
Opportunities
- Development of smart cities is expected to create potential future opportunities for the growth of the fiber optic cable assemblies market.
Global Fiber Optic Cable Assemblies Market Segmentation Details:
Based on Cable Length, the standard segment contributed the largest shares to the market growth in 2022 as standard cable assemblies are designed to meet the needs of a wide range of applications across various industries. Fiber optic cable assemblies are extensively adopted in telecommunications, data centers, enterprise networks, broadcast, and healthcare, among others. Additionally, standard fiber optic cable assemblies conform to industry standards and specifications, ensuring interoperability with other fiber optic equipment and components. The cable assemblies are seamlessly integrated into existing fiber optic networks and systems, enabling smooth connectivity and compatibility across different installations, further driving the adoption of the standard cable assemblies segment.
Based on Mode Type, the single-mode segment offered substantial shares to the global fiber optic cable assemblies market in the year 2022. The growth of the market is credited to the smaller core size, allowing the transmission of a single mode of light, thus enabling longer transmission distances and higher bandwidth capabilities. Additionally, single-mode cable assemblies are widely adopted in long-haul telecommunications, high-speed data networks, and applications requiring long-distance transmission. Consequently, the increasing demand for high-speed internet, intercontinental connectivity, and long-haul communication is driving the growth of the single-mode fiber optic cable assemblies segment.
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Based on Product Type, fiber jumpers hold the maximum share to the market growth in the year 2022. The growth is attributed to the increasing adoption of patch cables in data centers, telecommunications networks, LANs, and other environments to offer quick and reliable connectivity. In addition, patch cables are more cost-effective in comparison to other fiber optic cable assemblies, further contributing to market growth.
Based on End-User, the IT & telecom segment offered substantial shares to the global fiber optic cable assemblies market in the year 2022 as the IT and telecom industry generates and transmits vast amounts of data globally. Fiber optic cable assemblies offer the high-speed and high-bandwidth capabilities required to handle data traffic efficiently. In addition, with the rising demand for data-intensive applications namely cloud computing, and streaming services, the need for fiber optic cable assemblies is also increasing. Moreover, fiber optic cable assemblies enable the transmission of data across long distances, connecting data centers, internet exchange points, and telecom networks worldwide. Fiber optics provide the speed and capacity required for reliable internet connectivity, thus contributing significantly in fueling the growth of the IT and telecom industry. Consequently, the expanding IT industry is raising the demand for fiber optic cable assemblies to provide seamless data transmission.
Based on Region, North America has been a major contributor to the growth of the fiber optic cable assemblies market in 2022. The growth is attributed to a large number of data centers, including major cloud service providers and technology companies. Data centers rely heavily on fiber optic cable assemblies to interconnect servers, storage systems, and networking infrastructure. The region's thriving data center industry is driving the demand for fiber optic cable assemblies in North America. In addition, the presence of key players in the region including Corning Inc., NAI Group, LLC, and CommScope that constantly invest in research and development is also contributing significantly in accelerating the market growth.
Recent Developments
- In March 2023, US Conec Ltd. and Sumitomo Electric Industries, Ltd. partnered together for the production and deployment of high-density, next-generation multi-fiber cabling solutions for data centers.
- In October 2022, Hexatronic Group AB signed an agreement to acquire Rochester Cable from TE Connectivity for USD 55 million. The agreement was made to provide high-quality signals and data using fiber optic cables for defense, oceanographic, and subsea applications.
Key Market Highlights
- Globally, fiber optic cable assemblies are divided based on the cable length into custom and standard.
- In the context of the mode type, the market is separated into single-mode and multi-mode.
- The product type segment of the fiber optic cable assemblies is classified into fiber jumpers, long length assemblies, connectorized assemblies, and high complex breakout assemblies.
- In the context of end-user, the market is categorized into automotive, IT & telecom, healthcare, defense, government, and others.
- The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
- Asia Pacific and North America are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in fiber optic cable assemblies.
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List of Major Global Fiber Optic Cable Assemblies Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, and business strategies. The following are major market players operating in the market environment —
- US Conec Ltd.
- Fiber Connection Inc.
- Finisar Corp.
- Optec Technology Ltd.
- Optical Cable Corporation
- RF Industries
- Infinite Electronics International, Inc.
- Samtec, Inc.
- TE Connectivity
Global Fiber Optic Cable Assemblies Market Segmentation:
- By Cable Length
- Custom
- Standard
- By Mode Type
- Single-Mode
- Multi-Mode
- By Product Type
- Fiber Jumpers
- Long Length Assemblies
- Connectorized Assemblies
- High Complex Breakout Assemblies
- By End-User
- Automotive
- IT & Telecom
- Healthcare
- Defense
- Government
- Others
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Key Questions Covered in the Fiber optic cable assemblies Market Report
- What will be the potential market valuation for the fiber optic cable assemblies market by 2030?
- The market valuation for the fiber optic cable assemblies is expected to be approximately USD 10,398.65 Million by 2030 owing to the increasing demand to provide low-latency and high-speed connections to data centers.
- Based on current market trends and future predictions, which geographical region will have the largest impact on the fiber optic cable assemblies market's growth in the coming years?
- Asia Pacific is anticipated to witness the fastest CAGR during the forecast period owing to the growing consumer base for digital services, e-commerce, and online entertainment.
- Which segment is anticipated to witness the highest CAGR during the forecast period, 2023-2030?
- Healthcare sector is anticipated to witness the fastest CAGR as fiber optic cable assemblies are utilized in medical imaging systems including MRI (Magnetic Resonance Imaging), CT (Computed Tomography), and X-ray machines. The cable assemblies transmit high-resolution images and data from the imaging devices to the display or storage systems.
- What specific segmentation details are covered in the fiber optic cable assemblies market report, and how is the dominating segment impacting the market growth?
- IT & telecom accounted for the largest market share in 2022 as the IT and telecom industry generates and transmits vast amounts of data globally. Fiber optic cable assemblies offer the high-speed and high-bandwidth capabilities required to handle data traffic efficiently.
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