Fiber Optic Cable Market To Reach Valuation Of US$ 15 Bn By 2030

Transparency Market Research delivers key insights on the global fiber optic cable market. In terms of revenue, the global market is estimated to expand at a CAGR of ~7% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global fiber optic cable market.

A fiber optic cable is a type of network cable that contains strands of glass fibers inside an insulated casing. Fiber optic cables are designed for use in long-distance and high-performance telecommunication and data networking. Fiber optic cables support much of the world's Internet service, telephone systems, and cable television networks. The global fiber optic cable market has been broadly segmented by fiber type, cable design, deployment, and end-use industry. Based on fiber type, the market has been divided into single-mode fiber, multi-mode fiber, and others. In terms of cable design, the global fiber optic cable market has been classified into ribbon tube, loose tube, tight buffered, central core, and others. Based on deployment, the market has been segmented into underground, underwater, aerial, and others. In terms of end-use industry, the market has been segregated into IT & telecommunication, aerospace & defense, healthcare, energy & power, and others. Among fiber types, the single-mode fiber segment holds a significant market share and it is anticipated to expand at a rapid pace during the forecast period. This is primarily attributable to significant deployment of single-mode fibers in the global IT & telecommunication industry.

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The continuously increasing need for 24x7 high-speed connectivity and increased traffic generation from services such as voice calls, emails, messaging, games, mobile Internet, downloads, and video streaming have unleashed the benefits of optical fiber cable networks. In view of the requirement for high-speed and 24x7 connectivity, continuous efforts are being made to make telecommunication networks vigorous, future proof, and consistent. The volume of data traveling through the Internet continues to increase, as more number of devices are being connected and new applications are being developed. Optical fiber is the only transmission medium capable of supporting this explosive growth. Common applications, such as web browsing and high-definition videos, constitute approximately 66% of this traffic. Attributes of fiber optic cables are expected to drive their use in end-use industries such as IT & telecommunication and healthcare. Thus, rising demand for high-speed connectivity is expected to drive the global fiber optic cable market at a significant pace in the near future.

Fiber optic cable is undoubtedly becoming one of the most rapidly growing transmission medium for installation and upgrade of new cabling, which includes horizontal, backbone, and desktop applications. Fiber optic cables are preferred for use in applications that require high bandwidth, long distance, and thorough immunity to electric interference. Fiber optic cables are perfectly suitable for use in systems with high data rate such as gigabit Ethernet, fiber distributed data interface, multimedia, asynchronous transfer mode, synchronous optical networking, and any other network that requires transfer of large and bandwidth-consuming data files over very long distances.

Costs of fiber optic cables, components, and hardware are gradually decreasing. Installation costs of fiber optic cables are higher than those of copper cables, owing to the skill required for termination. Generally, fiber is costlier than copper in the short run. However, it can actually cost less in the long run. Maintenance cost of fiber is much less; it has much less downtime; and it requires less hardware for network installation. Due to these factors, fiber optic cables are expected to witness high demand across the globe during the forecast period.

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Key players operating in the global fiber optic cable market are Corning Inc., Prysmian Group, HTGD, Furukawa Electric Co., Ltd., Yangtze Optical Fibre and Cable (YOFC), Sumitomo Electric Lightwave Corp., Tongding Interconnection Information Co. Ltd, CommScope, and Sterlite Tech.

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