Harrisburg, NC -- (SBWIRE) -- 10/22/2020 -- The Global Fiber Optic Cable Market Research Report 2020-2030 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope and application of this report.
The fiber optic cable market was valued at USD 7.34 billion in 2019 and is expected to reach USD 14.69 billion by 2025, at a CAGR of 12.26% over the forecast period 2020 - 2025.
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Market Segmentation
Top leading Companies of Global Fiber Optic Cable Market are – Corning Inc., Sumitomo Electric Industries Ltd, Finisar Corporation, Leoni AG, Prysmian Group, Coherent Inc., Furukawa Electric Co. Ltd, LS Cable & System (LS Group), Sterlite Technologies Ltd, Yangtze Optical Fiber and Cable Joint Stock Ltd Co., Hengtong Group Co. Ltd, Fujikura Ltd, Nexans, Commscope Inc., Hitachi Cable America Inc. (Hitachi Cable), Nestor Cables Ltd
Industry News
November 2019- Leoni and the Hengtong Group, a global supplier of cable and system solutions for the telecommunications and energy sectors, started the production of Singlemode fibers in Jena with representatives from politics and industry in the context of its joint venture j-fiber Hengtong GmbH._
May 2019 - LS Cable & System started production in its plant in Poland, to expand its presence in the European market._The new plant will produce parts for electric vehicle batteries and optical cables for communication. It has become the first Korean cable maker to have a production base in Europe, after completing the construction of its plant in Dzierzoniow, in the southwestern region of Poland.
Key Market Trends
IT and Telecom Sector Offers Potential Growth
- Fiber optics is a major building block in the telecommunication infrastructure. With the explosion of information traffic owing to the internet, electronic commerce, computer networks, multimedia, voice, data, and video, the need for a transmission medium with the bandwidth capabilities for handling such vast amounts of information is paramount. Fiber optics, with its comparatively infinite bandwidth, has proven to be the solution.
- Additionally, 5G, IoT, and Big Data rely heavily on real-time data collection and transfer. As fiber optics has unlimited bandwidth potential, fiberoptics cable is chosen to support these bandwidth levels.
- Further, to achieve the expected performance levels for 5G networks, more small cells (or nodes) and mobile edge computing will be needed to eliminate network bottlenecks. These small-cell deployments often utilize the millimeter wave spectrum by relying heavily on fiber cabled connections for the backhaul portion of the network.
- The launch of 5G will bring enhanced capacity and lower latency straight to networks. Fiber optics cable is the preferred option for 5G because of its scalability, security, and ability to handle the vast amount of backhaul traffic being generated. This, in return, is expected to create a huge market opportunity for the fiber optic cable market in IT and Telecom.
Asia-Pacific to Witness a Significant CAGR
- The Asia-Pacific region is dominated by two major economies of the world, i.e. India and China. These regions are spearheading revenue growth, owing to the technological advancements and large-scale adoption of the technology in IT and Telecommunication as well as administrative sector.
- Additionally, the increasing application of fiber optics in the medical sector is catapulting growth across the countries, such as China, Japan, and India. This is propelling the overall demand at a significant rate.
- Additionally, the consistent rise in the use of smartphones and internet facilities in the region contributes to the adoption of optical fiber cables for telecommunication applications. 5G connections (excluding IoT) are anticipated to reach USD 670 million in Asia-Pacific by 2025, accounting for approximately about 60% of the global 5G connections, according to GSMA.
- Moreover, the governments of developed nations, like China and Japan, are heavily investing in security infrastructure at country levels. In return, all the above factors are expected to pave the way for new opportunities in the fiber optic cable market.
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What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: The Fiber Optic Cable Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Finally, Fiber Optic Cable Market report is the believable source for gaining the Market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request and Market development rate and figure and so on. This report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.
Note: All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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