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.
With rise in demand for Internet of Things (IoT) and subsequent rise in number of connected devices, data transmission has become important for the concerned users. According to the Ericsson mobility report, by the end of 2016, there were approximately 400 million IoT devices with cellphone connection. With increasing adoption of IoT technology coupled with concerned Fiber Optic Cable Market will generate huge incremental opportunity, over the forecast time period.
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Moreover, advancements in the telecom sector has increased the deployment of Fiber to the Home (FTTH) and Fiber to the Building (FTTB) network architectures. In June 2019, Google announced new subsea cable route to connect Portugal and South Africa; the cable would be built by Alcatel Submarine Networks and project is expected to be launched by 2021. The above factor will drive the demand for Fiber Optic Cable market.
Additionally, IoT, Big Data, 5G rely mostly on real time data collection and transfer. Fiber optics has much larger bandwidth potential, which makes it ideal candidate to such high bandwidth levels; therefore, rapid adoption of fiber optics is highly anticipated.
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.
Key Findings of the Report:
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.
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Key Market Segments of Fiber Optic Cable Market are:
Fiber Optic Cable Market By Type
Plastic Optical Fiber
Fiber Optic Cable Market By Application
Oil & Gas
Private Data Network
Telecom & Broadband
Fiber Optic Cable Market By Geography
Rest of North America
Rest of Europe
Rest of Southeast Asia
Rest of Asia Pacific
Middle East and Africa
Rest of Middle East & Africa
Rest of Latin America
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