Scope of the Report
Fiber optics is one of the methods of transmitting information that works by sending pulses of light through an optical fiber. The light transmitted then forms an electromagnetic carrier wave modulated to carry information. Optical fiber cable (OFC), especially for telecommunication companies, has become a preferred transmission medium catering to aggressive bandwidth demands. Furthermore, increasing cloud-based applications, audio-video services, and Video-on-Demand (VoD) services stimulate demand of fiber optic cable.
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Fiber Optic Cable Market Overview:
The Fiber Optic Cable Market is expected to grow at CAGR of 12.26% during the forecast period (2019 – 2024). With the increasing demand for IoT and more number of connected devices, data transmission has become vital for the users, hence the fiber optic cable market is seeing a huge opportunity during the forecast period.
– Further, technological advancements in the telecom sector have increased the deployment of broadband network architectures. Fiber to the Home (FTTH), Fiber to the Building (FTTB) is a few prominent broadband networking architectures that necessitate the large-scale deployment of fiber optic networks, driving demand for fiber optic cables.
– The major benefit of fiber optic cable is the increased security option which cannot be tapped than the traditional copper cable is another major factor driving fiber optic cables market.
– However, high costs and complex installation act as major restraining factors for fiber optic cables market.
The fiber optic cable market is moderately fragmented. The capital requirements for setting up new firms can be prohibitively high in a few regions. Moreover, market incumbents have a considerable advantage over new entrants, particularly in gaining access to channels of distribution and R&D activities. Product launches, high expense on research and development, partnerships and acquisitions, etc. are the prime growth strategies adopted by these companies to sustain the intense competition Some of the major players in the fiber optic cables market include Corning, Inc., Finisar Corporation, Prysmian Group, General Cable Corporation among others.
– January 2019 – Leoni and Hengtong established a joint venture for the manufacture of single-mode fibers in Europe. The expansion of broadband in Germany and other European countries and the growing demand for data centers require high-performance single-mode fibers as a key element in optical cables. Leoni and Hengtong are combining their strengths in order to service this growing demand.
– March 2018 – Finisar Corporation, a prominent player in the optical communications module, launched the industry’s first 400G QSFP-DD active optical cable and transceivers, for switching and routing applications. The company, in joint collaboration with Cisco, demonstrated the 400G QSFP-DD AOC running traffic through Cisco’s demonstration switch, at OFC 2018.
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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 due 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, with the emergence of 5G, IoT and Big Data will rely heavily on real-time data collection and transfer. And because of fiber optics unlimited bandwidth potential, fiberoptics cable is chosen to support these bandwidth levels.
– Further, to achieve 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, 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 will 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 technological advancements and large-scale adoption of the technology in IT and telecommunication and administrative sector.
– Additionally, increasing application of fiber optics in the medical sector is catapulting growth across countries, such as China, Japan, and India, thus propelling the overall demand at a significant rate.
– Also, 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 around 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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