Fiber Optic Cable Market Size, Drivers, Analysis, Overview, Trends and Opportunities Forecast 2024

The report defines the global fiber optic cable market as cables that carry communication signals using pulses of light generated by small lasers or light-emitting diodes (LEDs). They are direct links used to connect one country to the rest of the world for voice and data transmissions. Optical fiber cable contains one or more optical fiber coated with a protective jacket. The material and layers of the protected jacket depend upon the environment the cable will be placed. More than 95% of total international data is transmitted through the wires located at the bottom of the ocean, known as submarine communications.

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Rapidly rising demand for high standard internet service from various industry vertical are driving the growth of global fiber optic cable market. Growing advancements in cloud services, e-commerce, social media, and other activities increases the demand of cost and power-efficient solutions. Fiber optic cables are capable of providing high-speed data transmission cheaper than the satellites. Furthermore, ongoing technological development to provide a high rate of data transmission is fueling the growth of fiber optic cable worldwide. In addition integration of IT and rising demand of real time data access across the various sector including communications, banking and financial, medical, energy and others are projected to create several opportunities in the fiber optic cable market over the period of 2018-2024.

Market Segment (by Type)

On the basis of type, global fiber optic cable market is segmented as single mode fiber, multi-mode fiber, and plastic optic fiber. Single mode fiber cable is designed to transmit a single mode or ray of light over long distances. It is a commonly used fiber-optic communication mode. Single mode fiber optic cable has a small diametric core that only permits one mode of light to proliferate. The refection created during the transmission is decreased that lower the attenuation and increased the ability signal to travel at a long distance. Thus, they are vastly used in long distance communications. In addition, growing adoption of fiber to the home (FTTH) drives the growth of single mode optical fiber market worldwide.

Market Segment (by Application)

The report highlighted by applications of optical fiber cable market into telecom, military & aerospace, BFSI, medical, oil & gas, and others. Introduction of smart technologies, high-tech advancements and high rate of IT integrations are the factors boosting the growth of fiber optic cable market in the application segment. In addition, silicon based optic fibers are being replaced with polymer optical fibers which offer easy and cost-efficient processing of optical signals. This is expected to promote the growth of optical fiber market.

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Regional Analysis

Among the geographies, North America held maximum market shares in the fiber optical cable market in 2017. North America is expected to be the dominating region in this market over the forecast period. The presence of leading telecommunication players across North America drives the growth of fiber optic cable market in this region. The optical fiber cables in telecom applications hold approximately 46.9% shares in 2017, across the North America region. The existence of a large amount of data centers across North America contributes in the growth of North American fiber optical cable market.

Asia Pacific is the fastest growing region in the global fiber optic cable market. Growing adoption of next generation technologies, and rapidly rising digitalization drives the growth of fiber optic cable in this region. Various governments across the Asia-Pacific region are encouraging their investments in very high-capacity networks and accelerate public access to Wi-Fi for their region. The factors such as favorable government polices, growing healthcare infrastructure a0nd increasing adoption of fiber optic cable in the medical instrumentation are anticipated to boost the demand of fiber optic cable market.

Major key Players

The key companies covered in the report of global fiber optic cable market include Prysmian Group, Corning Inc., Finisar, AFL Global, Sumitomo Electronics Industries, Ls Cable & System, Leoni AG, Furukawa Electric, General Cable Corporation and Finolex.

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