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Single-Mode Fiber Cable: Growth and Market Forecast for 2024
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According to The Business Research Company's, The single-mode fiber cable market size has grown strongly in recent years. It will grow from $66.88 billion in 2023 to $71.95 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to telecommunications growth, internet expansion, fiber to the home (ftth), data centers, globalization of business.
The single-mode fiber cable market size is expected to see strong growth in the next few years. It will grow to $99.02 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to 5g network rollout, smart cities, rural broadband expansion, network security and reliability, content streaming and gaming. Major trends in the forecast period include increased data capacity, flexible and bend-insensitive fibers, digital twin technology, cable miniaturization, passive optical networks (pons):.
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Market Drivers and Trends:
Rising demand for higher bandwidth and faster speed connections will enhance the growth of the single-mode fiber optic cable market. There is a surge for high bandwidth from enterprises and individuals due to increased use of the internet for video calls, gaming, online shopping, and social media. Fiber optic cable depends on light to transmit data instead of electricity so that it can speed up the internet connections that are capable of handling higher bandwidth. For example, 4K Ultra High Definition (UHD) TV at homes consumes approximately 15-18 Mbps of data which is three times more than the plain HD TV. By 2022, it is estimated that about 62% of connected flat panel TV sets will be 4K. This focus on increasing demand for higher bandwidth increasing video consumption. Thus, rising demand for faster speed connections and higher bandwidth is driving the single-mode fiber optic cable market growth.
The technological advancement in the fiber optic cable act as a key trend driving the growth of the single-mode fiber optic cable market. Wavelength division multiplexing (WDM) is the recent technological improvement in the fiber cables. Wavelength division multiplexing is a technique of multiplexing the number of optical carrier signals through a single optical fiber channel by varying the wavelengths of laser lights. WDM allows communication in all directions in fiber cable. WDMs are used on a single optical fiber to blend light signals coming from different optical fibers. This is attained by using a coupler at the WDM input. In 2023, Asia-pacific is expected to be the fastest-growing market for WDMs and multiple companies in China such as ZG Technology, Optic Network Technology, are the leading manufacturers and suppliers of WDMs.
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Major Key Players of the Market:
Corning Incorporated, Fujikura Ltd., Sumitomo Electric Industries Ltd., Furukawa Electric Co. Ltd., Pirelli & C. S.p.A., Nexans S.A., Hengtong Cable Group, Futong Group, Tongding Group, CommScope Inc., LS Cable & System Ltd., FiberHome Technologies Group, Prysmian Group, Yangtze Optical Fiber and Cable Co. Ltd., Amphenol Corporation, Molex LLC, OFS Furukawa LLC, Belden Inc., Aptiv PLC, YOFC (Yangtze Optical Fiber and Cable Joint Stock Limited Company), HTGD (Hengtong Group Dalian Hengtong Optical Cable Co. Ltd.), Radiall, Shenzhen Tefa Touchplus Information Corp., Fasten Fiber Optics Co. Ltd. (FPC), Alcatel-Lucent (Nokia), Lynn Electronics Corporation, TE Connectivity Ltd., 3M Company, Sterlite Technologies Ltd., Huber + Suhner AG, OFS Fitel LLC, AFL, Accelink Technologies Co. Ltd., Finisar Corporation, ZTT Group, General Cable Corporation, Jiangsu Fasten Advanced Materials Co. Ltd., The Siemon Company, Shanghai Tarluz Telecom Tech. Co. Ltd., OptiTek Technology Co. Ltd., Fiber Instrument Sales Inc., Telenco Distribution, UNITEK Fiber Optic Systems Inc.
Single-Mode Fiber Cable Market 2024 Key Insights:
• The single-mode fiber cable market size is expected to see strong growth in the next few years. It will grow to $99.02 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%.
• Fueling The Future With High Bandwidth Demand In The Single-Mode Fiber Optic Cable Market
• Advancing Connectivity The Role Of Wavelength Division Multiplexing (WDM) In The Single-Mode Fiber Optic Cable Market
• Asia-Pacific was the largest region in the single-mode fiber optic cable market in 2023
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