Major players in the fiber optic cable market are Corning Inc. , Sumitomo Electric Industries Ltd, Prysmian Group, Sterlite Technologies Ltd, Fujikura Ltd, TE Connectivity, 3M, Amphenol, Molex, Prysmian, Finisar Corporation, and AFL Communications LLC.
New York, March 25, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Fiber Optical Cable Global Market Report 2022" - https://www.reportlinker.com/p06247454/?utm_source=GNW The global fiber optical cable market is expected to grow from $66.54 billion in 2021 to $89.91 billion in 2022 at a compound annual growth rate (CAGR) of 35.1%.The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $227.54 billion in 2026 at a CAGR of 26.1%. The fiber optic cable market consists of sales of fiber optic cables and related services that are used in telecom, CATV, broadcasting, military/aerospace, healthcare, power, and new energy. A fiber optic cable is an optical cable containing one or more optical fibers that are capable of transmitting the messages into light waves. The main types of fiber optic cable are glass optical fiber and plastic optical fiber.Glass optical fibers are typically made up of a pure glass (SiO2) core and cladding made of a less pure glass or plastic. Glass fiber is primarily used in communication, sensor, and measurement systems.They are an excellent choice for long-distance, high-speed communication applications due to their high transmissivity and low loss factor. They are also better suited for use in corrosive environments or at high temperatures. The various products include single-mode cable and multi-mode cable that are used for telecom, oil and gas, military and aerospace, BFSI, medical, imaging, railway and other applications. Asia Pacific was the largest region in the fiber optic cable market in 2021.North America was the second-largest region in the fiber optic cable market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. Rising demand for higher bandwidth and faster speed connections will enhance the growth of the fiber optic cable market.There is a surge in demand for high bandwidth from enterprises and individuals due to increased use of the internet for video calls, gaming, online shopping, and social media. Fiber optic cable use light to transmit data instead of electricity so that it can enhance and speed up the internet connections that are capable of handling higher bandwidth.For example, 4K Ultra High Definition (UHD) TV at homes consumes approximately 15-18 Mbps of data which is three times more than the plain HD TV. By 2022, it is estimated that about 62% of connected flat panel TV sets will be 4K.This focus on increasing demand for higher bandwidth increasing video consumption. Thus, rising demand for faster speed connections and higher bandwidth is driving the fiber optic cable market’s growth. The increase in the adoption of wireless communication systems is expected to limit the growth of the fiber optic cable market.In recent years, demand for wireless services increased exponentially. The emergence of new technologies such as the internet of things (IoT) has increased the adaption of wireless communication systems. For instance, mobile technologies and services generated $4.1 trillion in economic value added (4.7 percent of global GDP) in 2019. In 2020, the number of global smartphone users is forecasted to total 3.5 billion, registering a 9.3 percent increase from 2019. Therefore, the high usage of wireless communication systems is hindering the growth of the fiber optic cable market. The technological advancement in the fiber optic cable is a key trend driving the growth of the fiber optic cable market.Wavelength division multiplexing (WDM) is the recent technological improvement in the fiber cables. Wavelength division multiplexing is a technique of multiplexing the number of optical carrier signals through a single optical fiber channel by varying the wavelengths of laser lights.WDM allows communication in all directions in fiber cable. WDMs are used on a single optical fiber to blend light signals coming from different optical fibers.This is attained by using a coupler at the WDM input. In 2023, Asia-pacific is expected to be the fastest growing market for WDMs and multiple companies in China such as ZG Technology, Optic Network Technology, are the leading manufacturers and suppliers of WDMs. In March 2020, Sumitomo Electric Industries, Ltd. is a Japan based company manufacturing electric wires and optical fiber cables acquired Thunderbolt 3 certification for its new active optical cables (AOCs) from Intel Corporation, the company that established the Thunderbolt 3 standard. Sumitomo Electric acquired 40 Gbps Thunderbolt 3 AOCs for high-speed transmission to meet the requirements for long-distance communication. Thunderbolt is the trademark name of a device interface offered by Intel and Apple. The countries covered in the fiber optic cable market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. Read the full report: https://www.reportlinker.com/p06247454/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________
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