Fiber Optic Cable market Recorded a 14% Y-O-Y Growth Rate in 2023| Growing Vendor Involvement in Market to Boost Growth by 2029
Fiber Optic Cable market Overview
Qualitative analysis about Fiber Optic Cable market status (2023-2029), enterprise competition pattern, advantages and disadvantages of enterprise Products, industry development trends , regional industrial layout characteristics and macroeconomic policies, industrial policy has also be included. From raw materials to downstream buyers of this industry will be analysed scientifically, the feature of product circulation and sales Distribution will be presented as well.
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The comprehensive Demand analysis of the Fiber Optic Cable market will assist in managing better product differentiation, along with detailed understanding of the core capability of each activity involved. The Fiber Optic Cable market attractiveness analysis provided in the report aptly measures the potential value of the market providing business strategists with the latest growth opportunities.
Following are the major Companies of Fiber Optic Cable market - Optical Cable Corporation, Sterlite Technologies, Fujikura Limited, Finolex Cable Limited, Ofs Fitel, Sumitomo Electric Industries Ltd, Hindustan Cables Limited, Infinera Corporation, Corning INC, Birla Furukawa Fibre Optics and others.
Fiber Optic Cable Market Recent Developments
June 2022 - Prysmian Group is investing USD 30 million in the Jackson, Tennessee, plant to improve optical fiber capacity and extend its telecom network to satisfy client demand more effectively.
March 2022 - Sumitomo Electric Industries, Ltd. has launched its new Z2C optical fiber fusion splicer, featuring its proprietary "NanoTuneTM" AI (artificial intelligence) programmed fusion technology and a redesigned design with an improved environmental resistance spring.
Fiber Optic Cable market Segmentation:
Based on the industrial chain, this report mainly indicates the definition, types, applications and major players of Fiber Optic Cable market in details.
Fiber Optic Cable Market by Cable Type, 2023-2029, (USD Million), (Thousand Units)
Fiber Optic Cable Market by Fiber Type, 2023-2029, (USD Million), (Thousand Units)
Plastic Optical Fiber
Glass Optical Fiber
Fiber Optic Cable Market by Application, 2023-2029, (USD Million), (Thousand Units)
In-Flight Entertainment Systems
Flight Management Systems
Fiber Optic Cable Market by End User, 2023-2029, (USD Million), (Thousand Units)
IT and Telecom
Defense and Aerospace
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Fiber Optics Market Dynamics
Driver : Growing internet penetration and data traffic
The world has been witnessing an exponential rise in the number of internet users. With the explosion of internet use, social media services, online entertainment, Voice over IP (VoIP), and mobile payments have become common. Therefore, traffic associated with data services, video streaming, online gaming, and the internet have grown tremendously with the proliferation of tablets, laptops, smartphones, and other wireless devices.
Wireless traffic travels over a wireline network of fiber optics to reach its destination. Therefore, growth in mobile communications mainly depends on wireline networks, such as backhaul and fronthaul. The growing multimedia consumption leads to massive data creation and replication worldwide. The rising amount of data generated will increase the deployment of new fiber optic cables and subsystems, which will drive the fiber optics market growth.
Restraint : Surging adoption of wireless communication systems compared to wired systems
Increasing adoption of wireless communication systems in place of wired systems is one of the major restraining factors for fiber optics manufacturers.
In wireless communications systems, the data is transmitted from one point to another by using a microwave radio spectrum. The data is transferred from one central location to the receiving devices, antenna systems, and dishes. Fiber space optics (FSO) and radio frequency (RF) are the majorly used technologies for wireless communication. RF and FSO technologies provide non-interference with each other and require less capital for installation. As a result, these systems increase efficiency in communication applications compared to fiber optics technology. In addition, wireless communication systems are gaining traction over fiber optics, majorly in applications requiring a higher data transfer rate, further restraining the market growth.
Opportunity : Surging deployment of 5G communication networks
The extensive penetration of 5G across developed and developing economies will bring positive opportunities for fiber optics vendors in the market. 5G infrastructure is widely dependent on the adoption of optical fibers.
These optical fibers can transfer an enormous amount of data at high transmission rates from one location to another. With the ongoing commercialization of 5G services, telecom service providers are emphasizing adding newer 5G base stations to gain a competitive advantage in the market. According to the Ministry of Industry and Information Technology (MIIT), China, the telecom service providers in China has deployed approximately 1.425 million 5G base station in the country as of March 2022. These base stations will support network traffic of over 500 million users nationwide.
Challenge : Challenges in installing fiber optics networks in difficult terrains and high cost of installation
While fiber optic cables are typically installed within conduits alongside the pipeline, there are significant challenges to installing the conduits along trenchless installations.
Challenges in fiber use can be attributed to technical and administrative difficulties. Many telecommunications companies worldwide have telecommunications infrastructure under the oceans with subsea fiber optic cable networks. Verizon, a cable operator in the US, deployed a fiber optic network under the umbrella of Fiber Optic Service (FiOS), reaching 481,000 sales locations at the end of 2021. The company is also planning to add another 550,000 FiOS locations by 2022 and aims to reach 18 million homes and 8 million internet subscribers by the end of 2025. This will boost its services in the face of a direct business downturn. Underground fiber optic cables are located mainly on highways and city streets. However, planning a fiber route and adhering to it becomes difficult in an area where any building or commercial site comes without authorization. Such factors pose a major challenge to the growth of fiber optics market.
Fiber Optic Cable market Regional Analysis:
Fiber Optic Cable market research targets on volume and value at regional Opportunity and company Trends From a global perspective, this report Study represents overall market analysed on historical data and future growth Aspects. Geographically, Fiber Optic Cable market report focuses on following key regions: Americas, Europe, Asia-Pacific, Middle East & Africa and ROW.
Growth Market Overview:
Digital transformation of Fiber Optic Cable industry verticals requires broadband services, thereby promoting growth. For instance, increasing online commerce for retail goods and services, digitalization of hospital records, e-government initiatives, and rapidly rising platforms for media and entertainment content are notably augmenting the market growth. Wireless technology holds immense potential in accelerating the global digital revolution across verticals through productivity enhancements and cost-effectiveness.
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