ALBANY, New York, June 9, 2020 /PRNewswire/ -- Rapidly growing demand for high-speed connectivity in various sectors, notably in IT and telecommunication, healthcare, and energy, especially in developing regions is key to use of fiber optic cables. They are gathering traction among network providers to enable industries to send and access high-speed data reliably.
In recent times, large-scale deployment of cloud based storage solutions has spurred use of fiber optic cables in networks. The global fiber optic cables market is projected to garner CAGR of ~7% during 2020–2030, taking its valuation to touch ~US$ 15 bn by the end of 2030. The unveiling of fiber optics multiplex equipment and adoption of wavelength division multiplexing are promising trends.
Analysts note that the current COVID-19 lockdown has halted construction of new optical networks; however, post-COVID era will bring lucrative avenues. This is underpinned mainly by large-scale fiber optic projects, such in the U.S., they further assert.
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Key Findings of Fiber Optic Cables Market Report
- Of the different fiber types, single-mode fiber holds a remarkably high share; the opportunities are expected to rise at rapid pace during the assessment period
- Among the various end-use industry, the IT and telecom industry is expected to offer substantial opportunities to players in fiber optic cables market
- Of the various regions, Asia Pacific leads the pack, with the major share of revenue contributed by China; rapid pace of deployment of single-mode optical fiber cables keeps the country market increasingly lucrative
- North America and Europe anticipated to grow at impressive CAGR during 2020 - 2030
Explore 253 pages of top-notch research, incisive insights, and detailed country-level projections of Fiber Optic Cable Market (Fiber Type: Single-mode Fiber, Multi-mode Fiber, and Others; Cable Design: Ribbon Tube, Loose Tube, Tight Buffered, Central Core, and Others; Deployment: Underground, Underwater, Aerial, and Others; and End-use Industry: IT & Telecommunication, Energy & Power, Healthcare, Aerospace & Defense, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 – 2030 at https://www.transparencymarketresearch.com/fiber-optic-cable-market.html
Global Fiber Optic Cables Market: Key Driving Factors and Promising Avenues
A wide range of networks use fiber optic cables, such as gigabit Ethernet, fiber distributed data interface, asynchronous transfer mode, and synchronous optical networking. Some of the end-use industry-driven trends that expected to shape the contours of the fiber optic cables market from 2020 to 2030 are mentioned as follows:
- Demand for bandwidth-intensive data files in telecom, IT, defense, and aerospace industries have propelled the growth of fiber optic cables market
- Demand for 24x7 high-speed connectivity services among enterprises is a key trend. Fiber optic cables are extensively being used in installation and upgrade of new cabling infrastructure, thus bolstering growth in fiber optic cables market
- Construction of new 5G network architecture in a number of developing and developed economies across the world may prove to be a promising trend in the deployment of fiber optic cables
- Focus of governments to promote network infrastructure has spurred investments in new error detection techniques between transmitters and receivers. This has cemented the potential if fiber optic cables market
- Deployment of multi-mode fibers in large-scale data centers is boosting revenues in fiber optic cables market.
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Global Fiber Optic Cables Market: Regional Assessment
Among the various regions, Asia Pacific held the top share in 2019 in the fiber optic cables market. The regional market has witnessed a notable rise in production of fiber optic networks to support advanced networking technology for use in several industries. Both India and China will key to the revenues in the regional market. Meanwhile, the Middle East and Africa is expected to rise at moderate growth, fueled on the back of industry collaborations in the developing economies of the region.
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Global Fiber Optic Cables Market: Key Impediments
The fiber optic cables market witnesses considerable snags from large-scale deployment. The lack of industry standards has constrained the demand for fiber optic cables, even in developed countries, such as in the U.S. The incompatibility also has kept the deployment slow among businesses in various end-use industries.
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Global Fiber Optic Cable Market: Segmentation
Fiber Optic Cable Market, by Fiber Type
- Single-mode Fiber
- Multi-mode Fiber
Fiber Optic Cable Market, by Cable Design
- Ribbon Tube
- Loose Tube
- Tight Buffered
- Central Core
Fiber Optic Cable Market, by Deployment
Fiber Optic Cable Market, by End-use Industry
- IT & Telecommunication
- Energy & Power
- Aerospace & Defense
Fiber Optic Cable Market, by Region
- North America
- Asia Pacific
- Middle East & Africa
- South America
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