According to SPER Market Research, the Fiber Optic Cable Market is estimated to reach USD 14.08 billion by 2032 with a CAGR of 11.13%. Furthermore, the growing preference in the telecommunications sector and data centres is expected to accelerate the market’s growth prospects. Fiber optic cables are thin, flexible devices used for long-distance, high-performance communication. The necessity for increased connectivity in both residential and business segments will give the fibre optic cable market with numerous potential prospects. The use of fibre optic cable to support the transport of a large volume of digital content, hence increasing demand in the digital content business. As a result, the market is likely to be driven by the increasing use of fibre cable in the digital content sector. TMR has undertaken a thorough examination of the many factors influencing the growth of the fibre optic cable market.
The utilisation of fibre optic cable in a wide range of end-use industries will drive global market expansion. Fiber optic cable advantages such as longer reach and high bandwidth connectivity are expected to have a significant impact on the market’s growth structure.
Fiber Optic Cable Market Overview (2022-2032)
- Forecast CAGR (2022-2032): 11.13%
- Forecast Market Size (2032): 14.08 billion
The pandemic has also resulted in the forced closing of fibre optic production plants, which has slowed market growth to some extent. During COVID-19, however, certain market participants were able to operate their industrial plants on a restricted capacity. The COVID-19 has increased the popularity of work-from-home and online education systems. This dramatic increase has accelerated the implementation of 5G and internet communication infrastructure around the world. As telecom operators around the world invest heavily in the construction of 5G communication infrastructure to meet the increasing demand for high bandwidth and dependability. Fiber optics serves as the foundation for 5G communication infrastructure.
Impact of COVID-19 on the Fiber Optic Cable Market
COVID-19 has had a wide-ranging impact on the global economy, causing disruptions in production and demand as well as financial concerns for enterprises and financial markets. Wuhan has a substantial concentration of the fibre optics supply chain, home to Fiberhome, YOFC, and Accelink, among other enterprises that account for a significant share of global optical fibre production capacity. During the early stages of a pandemic, demand is typically low.
Nonetheless, production remained at a low level. The COVID-19 outbreak has resulted in lockdowns being enacted in most countries, effectively shutting down companies and transportation activities in order to contain the virus’s spread. China is a major worldwide economic hub as well as one of the most populous countries in terms of Internet users. Unfortunately, the global disruptions produced by the COVID-19 pandemic have significantly damaged supply chain activities, resulting in pauses in large-scale manufacturing. The COVID-19 epidemic has impacted the global economy, which is projected to have an impact on demand for optical products in a number of countries. Furthermore, the impacts of COVID-19 have slowed the installation of FTTH networks in Western Europe, which is having a significant influence on industry growth.
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Fiber Optic Cable Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2030. This report contains statistics on product type segment growth estimates and forecasts.
By Fiber Type:
By Cable Type:
- Others (Security and Metropolitan Network)
- Non- Communication
- Fiber Optic Lighting
- Middle East & Africa
- North America
- Latin America
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies for this market. It traces the market’s historic and forecast market growth by geography.
Fiber Optic Cable Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Coherent Inc., Commscope Inc., Corning Inc., Finisar Corporation, Fujikura Ltd, Furukawa Electric Co. Ltd, Hengtong Group Co. Ltd, Hitachi Cable America Inc. (Hitachi Cable), Leoni AG ( Weinert Industries), LS Cable & System (LS Group), Nestor Cables Ltd, Nexans SA, Prysmian Group, Sterlite Technologies Ltd, Sumitomo Electric Industries Ltd, Yangtze Optical Fiber and Cable Joint Stock Ltd Co.
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