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Fiber Optic Cable Market Growth, Size, Share, Global Forecasts Analysis, Company Profiles, Competitive Landscape and Key Regions, Research Report Forecast to 2025 | COVID-19 Impact

01.29.2021 · Posted in Writing and Speaking

Market Highlights

The global fiber optic cable market is set to touch a valuation of approximately USD 11.67 billion by 2023. The increasing need for high-speed bandwidths with minimum latency is expected to be the primary driving factor of the market. The high data volume coupled with adoption of cloud services to store and manage large data sets is likely to boost the market growth over the forecast period (2018-2023).

The rise in the demand for high-quality video and audio data transmissions is likely to support the expansion of the fiber optic cable market through the review period. The increase in the operational expenditure related to fiber optic cables can boost their adoption rate and impel the market across the study period in the forecast period. The increase in application of fiber optic cable in expanding aerospace and automotive sectors are creating numerous growth opportunities, which, in turn, can promote the expansion of the market across the review period.

The easy availability of raw materials used in the production of fiber optic cables and the high capacity of these threads for high speed data transfer are other factors that can support the expansion of the market across the analysis period. The rise in popularity of fiber optic cable by the cash rich telecommunication companies, following consumer electronics sector due to high data volume capacity, can impel the expansion of the fiber optics market across the review period. Other advantages, such as lightweight and low susceptibility to interference fiber optics market across the review period.

Segmentation:

MRFR’s report states that the global fiber optic cable market size is segmented on the basis of type and application.

Types of fiber optic cables in the market include single-mode and multi-mode. The single-mode segment can grow at a rapid pace at a CAGR of 11.48% over the forecast period. It dominated the market in 2017 and can reach a valuation of USD 7.91 billion by 2025. The smaller diameter of the wire head gives it a prime advantage over its counterpart owing to its low attenuation and high bandwidth-providing capacity.

Major market applications include long-distance communication, submarine cable, FTTX, local mobile metro network, CATV, other local access network, and others. The long-distance communication segment will lead the fiber optic cable market till the end of the forecast period and touch a valuation of USD 3.88 billion by 2025. On the other hand, the FTTX segment can grow at a rapid clip of 13.30% CAGR over the forecast period. The growth of the telecom industry is the prime factor boosting the growth of both of these applications. The emergence of new communication technologies is bound to bode well for them over the forecast period.

Regional Outlook

In APAC, the fiber optic cable market is likely to thrive across the forecast period due to the growing inclination of residents for latest technologies, such as cloud services and IoT. In addition, the regional fiber optic cable market can rise due to rapid industrialization in the region.

Similar growth factors for the fiber optic cable market is observed in North America and Europe. IT, tech, and aviation companies in these regions are largely applying fiber optic cable market, which can boost the expansion of the fiber optic market across the review period. In addition, the rise in latest technologies by early adopters of fiber cables can support the expansion of the market in US and UK. The emergence of 5G communication solution can improve the market impetus.

Competitive Landscape

Furukawa Electric Co. Ltd. (Japan), TongDing, Group Co., Ltd. (China), ZTT International Limited (India), Hengtong (China), FOLAN (U.K.), YOFC (China),Fiber Home (China), FUJIKURA LTD. (Japan),SterliteTech (India), Nexans S.A. (France), Kaile Science and Technology Co, Ltd. (China), Prysmian Cables & Systems Limited (U.K.), Belden (U.S.), Jiangsu Fasten Company Limited (China), Corning Inc. (U.S.), Futong (Hong Kong), Sumitomo Electric, Ltd. (Japan), CommScope Inc. (U.S.), and  Jiangsu Etern, Co., Ltd. (China) are some major players in the fiber optical cable market, listed by MRFR.

Browse Complete Report @ https://www.marketresearchfuture.com/reports/fibre-optic-cable-market-1072

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