Fiber Optic Cable Market- is Projected to Reach USD 13.8 Billion by 2025 - Report by Market Stats Ville (MSG)

 

Fiber optic cable market has significant growth scope and is expected to reach USD 13.8 billion by 2025. The reports forecast the fiber optic cable market by material, cable type, application, and region. It highlights COVID-19 impact on the fiber optic cable industry.

 

Description

 

Fiber Optic Cable Market: by Material (Glass and Plastic), by Cable Type (Single-mode Cable and Multi-mode Cable), by Application (Local Area Network, Telecommunication, CCTV, Cable TV, Optical Fiber Sensor), and by Region – Global Industry Sizing, Growth, Trend, Opportunity, and Forecast (2020–2025)

 

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Market Statsville's latest study on the global fiber optic cable market primarily covers a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the leading companies globally. It entails an in-depth analysis of the factors influencing the global market and market statistics indicating region wise and segment-wise market share/growth analysis. The study of the report wills outlook one of the most exhaustive analyses of the market, capturing all the aspects of the fiber optic cable industry. Also, the report identifies and highlights the COVID-19 impact on the fiber optic cable market.

 

Fiber Optic Cable: Market Introduction

 

The fiber optic cable market size was estimated at USD 7.4 billion in 2019, which is expected to reach USD 13.8 billion by 2025, registering a CAGR of 9.68% during the forecast period (2020-2025). Fiber optics are based on transmitting information principle that works by sending light pulses through an optical fiber. The transmitted light then forms a modulated wave of electromagnetic carriers to carry information. Thus, fiber optic transmission use cables for digital data transmission and is increasingly used due to its efficiency and high transmission capacity. Fiber optic cables are typically used when it requires high bandwidth, long-distance, or immunity from external or internal interferences. 

 

Fiber optic cables comprise glass or plastic wiring threads with high-speed data transfer capability. Because of its high data volume capability, it is favored by telecommunication companies and customers. Coupled with their low sensitivity to noise and interference, these cables' lightweight design makes them highly treasured.

 

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Fiber Optic Cable Market Dynamics

 

Growing number of internet users in the communication sector is the major driver for the fiber optic cable market. Moreover, growth in the telecommunications, premises, utilities, and industrial sectors are further driving the development of the fiber optics market. Also, a large population base creates a demand for the data. Further growth in the average disposable income for the individuals in the global market further creates the need for fiber optic cable worldwide. There is a witness in expanding the worldwide telecom industry due to the increasing number of internet users, which is expected to boost the fiber optics market during the forecast period. 
An increase in awareness for the high-quality video, audio, and data transmissions among end-users and the rise in growth of e-commerce platforms are expected to bring more users to operate the internet connectivity. Thus, this is expected to open growth opportunities in the market for the fiber optic cable manufacturers in the global market throughout the forecast period.

 

The growth in the importance of data transfer and storage, the Internet of Things (IoT), and broad demand for connected devices such as smartphones, tablets, and wearable are critical factors in the cable market's growth for fiber optics. Besides, the market is expected to expand rapidly as these cables serve as the primary means of quick and secure data transfer. Furthermore, due to many advantages of fiber optics such as immunity to vibration and electricity interferences, the ability to provide greater bandwidth also increases fuel growth. 

 

However, the high initial cost and cumbersome installation are expected to hinder the growth of the market. Also, non-supportive policies of governments and limited standardization are expected to be the challenging factors for the fiber optic cable market in the coming years.

 

Fiber Optic Cable Market: Scope of the Report

 

The report outlines the study of the fiber optic cable market based on material, cable type, and application. 

 

Based on material, the fiber optic cable market has been segmented into-

 

·         Glass

·         Plastic

 

Based on cable type, the fiber optic cable market has been segmented into-

 

·         Single-mode Cable

·         Multi-mode Cable

 

Based on application, the fiber optic cable market has been segmented into-

 

·         Local Area Network 

·         Telecommunication

·         CCTV 

·         Cable TV 

·         Optical Fiber Sensor 

 

Fiber Optic Cable Market: Regional Outlook

 

From a geographical viewpoint, the fiber optic cable market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa (MEA). In 2019, North America was estimated to account for the highest market share in terms of value and volume in the fiber optic cable market. The growth is primarily due to the developed infrastructure and IT sector, along with the highest spending power of the consumers for the faster internet speed for business or personal usage.

 

Although the Asia Pacific is expected to grow at a high growth rate in fiber optic cable's global market during the forecast period, the region's increasing industrialization and infrastructural development have offered tremendous opportunities for fiber optics across various applications. Moreover, China, Japan, India, Australia, and South Korea are the major fiber optics markets. However, China is the world's largest manufacturing hub and is also one of the largest Internet users. 

 

Competitive Landscape

 

The leading fiber optic cable manufacturers in the global market include AFC Cable Systems, Corning Inc., Fujikura Ltd., Furukawa Electric Co. Ltd., and Hitachi Cable Ltd.

 

Other fiber optic cable manufacturers include Optical Cable Corporation, Prysmian Group, Sterlite Technologies Ltd., Simco-Groups, Hindustan Cables Limited, OFS Fitel, LLC, The Lapp Group, Sumitomo Electric Industries Ltd., and Yangtze Optical Fiber & Cable.

 

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