New York, Sept. 21, 2023 (GLOBE NEWSWIRE) -- As per the research report “Global Expanded Beam Cable Market” published by Consegic Business Intelligence, the market was worth USD 5.52 Billion in 2022 and is projected to attain market size of USD 6.59 Billion in 2023. Also, the market is anticipated to reach over USD 34.32 Billion by the year 2031, growing at a CAGR of 22.90%.
Expanded beam cable is a type fiber optic cable that is optimized for providing consistent optical connections in harsh, outdoor environments. The benefits of expanded beam cables including lightweight and robust design, high strength, resistance to extreme environmental conditions, high tensile load, and others, make it ideal for utilization in aerospace & defense, IT & telecommunication, healthcare, and other industries.
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The increasing utilization of expanded beam cables in the IT & telecommunication industry is among the key factors driving the market growth. Additionally, the growing demand for wireless communication, increasing penetration of 5G networks, and rising need for high-speed communication and data transfer solutions are key factors fostering the adoption of expanded beam cables. For instance, according to the GSM Association, 5G connections in China is projected to reach 1.6 billion by 2031, accounting for almost a third of the global total. Hence, rising penetration of 5G networks is increasing the adoption of expanded beam cables in telecommunication base stations and broadcast stations among others, thereby, driving the growth of the market.
Additionally, the rising application of expanded beam cables in healthcare sector is expected to promote potential opportunities for the growth of the expanded beam cable market. Moreover, the characteristics of expanded beam cables including resistance to electromagnetic interference, lower weight, superior bandwidth, and tolerance to dust and other contaminants are prime determinants for increasing its application in healthcare sector, particularly in medical devices. However, the prevalence of stringent regulations and standards associated with manufacturing of expanded beam cables is hindering the growth of the market.
| Report Attributes | Report Details |
| Market Size By 2031 | USD 34.32 Billion |
| Forecast Period | 2023-2031 |
| CAGR (2023-2031) | 22.90% |
| Base Year | 2022 |
| Study Timeline | 2017-2031 |
| Key Players | Harting Technology Group, Bel Fuse Inc., Radiall, Neutrik AG, TE Connectivity, Smiths Interconnects, X-Beam Tech Co. Ltd., Warren & Brown Networks, 3M, Molex, Glenair, Amphenol Corporation |
| By Type | Single-Mode and Multi-Mode |
| By End-User | Aerospace & Defense, IT and Telecommunication, Healthcare, 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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Expanded Beam Cable Market Growth Drivers:
- Rising utilization of expanded beam cable in aerospace & defense sector is driving the market growth.
- Growing IT & telecommunication industry is spurring the market growth.
Restraints
- Prevalence of stringent regulations and standards associated with manufacturing of expanded beam cables is restraining the market growth.
Opportunities
- Rising application of expanded beam cables in healthcare sector is expected to promote potential opportunities for market growth.
Global Expanded Beam Cable Market Segmentation Details:
Based on type, the multi-mode segment contributed the largest shares to the market growth in 2022. The benefits of multi-mode expanded beam cables including high bandwidth, higher speed, and the ability to transmit several mode of optical signals collectively are key aspects driving the growth of the segment. Further, the increasing utilization of multi-mode expanded beam cables in aerospace & defense, healthcare, and IT & telecommunication industries is driving the growth of the multi-mode segment.
Based on end-user, the aerospace & defense segment accounted for the maximum revenue share in the year 2022. Expanded beam cables are primarily used in the aerospace & defense sector for providing high-speed data transmission and network connectivity in applications including radar systems, military vehicles, and tactical military communications among others. Factors including growing commercial flight activities, rising production of commercial and military aircraft, and increasing investments in defense systems are among the key prospects fostering the growth of the aerospace & defense segment.
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Based on region, North American region accounted for the largest revenue share in the year 2022. The growth of multiple industries including aerospace & defense, IT & telecommunication, healthcare, and other sectors is driving the growth of expanded beam cable market in North America. Further, increasing investments in healthcare and defense sectors among others are projected to boost the market growth in the North American region during the forecast period.
Recent Developments
- In March 2019, 3M introduced its new expanded beam ferrule and connector system that is optimized for utilization in data centers. The expanded beam system provides high-performance, along with scalable single mode and multimode interconnections.
Key Market Highlights
- Globally, expanded beam cable market is divided based on the type into single-mode and multi-mode.
- In the context of end-user, the market is separated into aerospace & defense, it and telecommunication, healthcare, others.
- The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
- North America and Asia-Pacific 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 advancements in expanded beam cable market.
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List of Major Global Expanded Beam Cable 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, business strategies, and the launch of new products. The following are major market players operating in the market environment —
• Harting Technology Group
• Bel Fuse Inc.
• Radiall
• Neutrik AG
• TE Connectivity
• Smiths Interconnects
• X-Beam Tech Co. Ltd.
• Warren & Brown Networks
• 3M
• Molex
• Glenair
• Amphenol Corporation
Global Expanded Beam Cable Market Segmentation:
- By Type
- Single-Mode
- Multi-Mode
- By End-User
- Aerospace & Defense
- IT and Telecommunication
- Healthcare
- Others
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Key Questions Covered in the Expanded Beam Cable Market Report
- What is expanded beam cable?
- Expanded beam cables refer to a type of fiber optic cables that are particularly designed to provide reliable optical connections in harsh, outdoor environments.
- What is the dominating segment in the expanded beam cable market by type?
- In 2022, the multi-mode segment accounted for the highest market share in the overall expanded beam cable market.
- Based on current market trends and future predictions, which geographical region will have the largest impact on the expanded beam cable growth in the coming years?
- North America accounted for the largest revenue share in the year 2022. The increasing demand for expanded beam cable from multiple industries including IT & telecommunication, aerospace & defense, and healthcare industries among others is driving the growth of the regional market.
- Which region/country is anticipated to witness the highest CAGR during the forecast period, 2023-2031?
- Asia-Pacific is anticipated to register fastest CAGR growth during the forecast period due to rapid pace of industrialization and growth of multiple industries such as aerospace & defense, IT & telecommunication, and others.
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