The global Fiber Optic Cable Market size is estimated to surpass $19.2 billion mark by 2026 growing at an estimated CAGR of more than 13.7% during the forecast period 2021 to 2026. A Fiber Optic Cable is an assembly similar to an electrical cable, but containing one or more optical fibers that are used to carry light. The technology is one of the latest technologies that has developed over time, owing to comprehensive studies performed through thorough research and development by researchers and scientists around the world. The technology based on acrylate polymers has proven to be a blessing across a wide range of applications and over time has increased the number of advances. The worldwide demand for the internet, coupled with the growing need for FTTx, is the major factor driving the growth of the fiber optics sector. Increasing demand for communication at high bandwidth is boosting market growth. For example, these systems are used with ease to transmit data, speech, and images that range from a few meters to a few km. Telecommunications and IT have a wide variety of uses as primary industries. The development of fiber-rich networks has increased the market for these cables tremendously.
Fiber Optic Cable Market Segment Analysis – By Application
The application of fiber optic cabling in internet connectivity is majorly used to improve the connectivity and is set to drive the market at a CAGR of 16.9% through the forecast period. The increasing customer base from both enterprise and residential sectors is encouraging telecom companies to adopt fiber optic cabling and to enhance their internet bandwidth provisions. The use of light within Fiber Optic Cables offers several security benefits compared to a traditional copper cable. This is part of the reason why they are increasingly favored in today’s world, as there is a greater focus than ever before on protecting sensitive data. This is particularly the case in telecom, enterprise and industrial sectors. Whereas most optical fibers are installed to support long-distance connections between cities and countries, some residential internet providers have invested in extending their fiber installations to suburban neighborhoods for direct access by households. Providers and industry professionals call these last mile installations. Companies such as .Verizon FIOS and Google Fiber are focusing on expanding their installation in Europe and North America with focus on city wide fiber installations.
Fiber Optic Cable Market Segment Analysis – By Fiber Type
During the forecast period the Plastic segment is expected to grow at a CAGR of 15.2%. The plastic optic fiber market is expected to witness immense growth during the forecast period as the base material used for plastic optic fiber production differs from the base material used for multimode and single-mode optic fiber production. Based on the core materials used in POF cable construction POF differs from its single and multimode counterparts. While single- and multimode fiber optics have a core of glass, POF cables have a core of polymer. This offers a complex framework and permits cost savings. This is expected to boost the market growth of fiber type optic.
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Fiber Optic Cable Market Segment Analysis – By Geography
North America region dominated the global Fiber Optic Cable market as of 2020. It is due to the presence of significant players namely Corning, Prysmian Group, AFL Telecom, Fitel and LS Cable and System. Consumers have increasingly demanded high-speed internet in their homes and on mobile devices, underpinning this rising number of companies. As a result, wireless carriers and cable providers are demanding polymide and acrylate polymer fiber-optic cable at increasing rates. The increase in fiber-optic cable networks has expanded the speed and size of wireless carriers’ and cable providers’ data networks, providing higher-speed data transmission and larger volume data transfers. Industry revenue is projected to continue grow due to this development. The rising telecommunication initiatives in Middle East and Africa is set to propel the Fiber Optic Cable market. Fibre optic access lines in Africa and Middle East (AME) is expected to grow by a Compound Annual Growth Rate (CAGR) of 19% between 2021 and 2026 thereby significantly driving the market
Fiber Optic Cable Market Drivers
Increasing applications within Medical and Aerospace
As fiber optic technology has advanced, a number of use cases have been identified across a wide variety of industries. The medical industry has traditionally utilized polymide and acrylate polymer fiber optics for illumination, image transfer and laser signal delivery. Looking to the future, an increasing number of applications have the potential to drive the market including a new technology which could expedite the healing of wounds and tumor treatment. In the Aerospace sector, fiber optics are increasingly looked to as the solution for increasing connectivity on commercial flights. The use of fiber optics will enable improvements to in-flight entertainment and passenger Wi-Fi without interfering with or compromising the complex electrical data systems in place on aircraft. Fiber Optic Cables offer significantly greater bandwidth potential, speed and security versus their copper counterpart. As technology develops and an increasing number of applications are found, there is no doubt that the Fiber Optic Cable market will continue to grow. These growing avenues of growth for new applications of fiber optic cabling is set to significantly drive the market.
Adoption of Fiber for 5G Infrastructure
Optical fiber and fiber-optic cabling are the most-capable media in high-speed, long-distance data transmission, evidenced by their use in the world’s most-demanding networks. Fiber’s capabilities extend beyond the transport of bits and bytes for which it is most commonly known. This includes adoption of Fiber optic cabling for 5G infrastructure in the overhaul of telecom infrastructure worldwide. As wireless and wireline networks prepare for 5G, FirstNet, and enhanced Public Safety supported networks, RF Radio Access Network (RAN) technicians and administrators face new challenges in implementing and testing wireline equipment and fiber. As 5G promises to revolutionize the communications industry by delivering complete digital connectivity. 5G requires an ultra-flexible network, supporting key scenarios (eMBB, mMTC, URLLC) with single infrastructure. In order to achieve a true 5G revolution, optical fiber cables are essential. 5G is based on a small cell model that brings connectivity closer to the end-user. This small cell model requires a crucial fibre optic cable backbone in order to deliver a cohesive internet experience. The high bandwidth and speed requirements and low latency requirements for 5G can be delivered by using fiber technology in the access network to support increased mobile backhaul and small cell rollout. In view of the requirements of 5G expected in the long run regarding data rate, latency and fail-safety, the optical fiber is basically the most future-proof and scalable medium. In addition, it is operationally cost-effective in the long term because there are no longer active network elements between the control center and the mobile radio station.
Fiber Optic Cable Market Challenges
Alternative Wireless Connectivity Solutions
Wireless communication networks relay information over a microwave radio spectrum from one point to another. The knowledge is beamed down to the receiving dishes from one central location. The most commonly used techniques are radio frequency (RF) and fiber space optics (FSO) for wireless communication. The advantage of wireless communication over fiber optics usage is that the installation requires less capital. Another significant advantage of RF and FSO is their non-interference with each other. Therefore the two systems can be used together in any application to improve performance. Hybrid systems are used in many application areas, where both technologies compensate for the limitations of weather conditions and distance. Wireless communication systems are thus gaining momentum over fiber optics, especially in applications that require a higher rate of data transfer and this is anticipated to hinder the market growth of Fiber Optic.
Market Landscape
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Fiber Optic Cable Market. Optical Cable Corporation, Sterlite Technologies, Fujikura Limited, Finolex Cable Limited, Ofs Fitel, Llc, Prysmian Spa, Infinera Corporation, Corning INC, Birla Furukawa Fibre Optics and others are considered to be the key players of the Fiber Optic Cable Market
Acquisitions/Technology Launches/Partnerships
In April 2020, Prysmian Group announces world’s first 180µm fibre cable for FTTx and 5G networks.
In March 2019, Corning Inc launched its latest optical fiber cable product, Rocket Ribbon.
Key Takeaways
Global internet demand, coupled with the growing need for FTTx, is the major factor driving the growth of the fiber optics market.
Growing opportunities in the healthcare sector such as endoscopic imaging applications and applications for biomedical sensing are boosting the growth of fiber optics market.
Based on the core materials used in POF cable construction, POF varies from its single- and multimode counterparts. Though single- and multimode optical fibers have a glass core, the acrylate polymer core of the POF cables. This offers a dynamic portfolio of applications, with cost savings.
Related Reports:
A. Fiber Optic Test Equipment (FOTE) Market
https://www.industryarc.com/Report/17039/fiber-optic-test-equipment-fote-market.html
B. Cables And Connectors Market
https://www.industryarc.com/Research/Cables-And-Connectors-Market-Research-505362
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