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Fiber Optic Cable Market Report 2022: Rising Internet Penetration and Surge in Data Traffic Boosts Sector
DUBLIN, March 28, 2023 /PRNewswire/ -- The "Fiber Optic Cable Market By Type,, By Cable, By Deployment,, By Application,, By Region Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global market size for fiber optic cables was valued at USD 4.43 Billion in 2021, and it is predicted to experience an 11.0% CAGR in terms of revenue during the forecast period.
The growing adoption of the internet is a key factor driving the market's revenue growth. Optical fibers are flexible, transparent cables that use high-quality glass, plastic, and silica to operate on the principle of total internal reflection of light. Fiber optic internet transmits data through cables with tiny glass or plastic fibers as pulsed light beams, resulting in speeds around 20 times faster than conventional cable at 1 Gbps (Gigabits per second). The market's revenue growth is also driven by the need for higher bandwidth, as more and more businesses require data transmission at faster rates.
Fiber optic cables provide substantially higher bandwidth and are less prone to interference from Electromagnetic Interference (EMI) compared to other types of wires, which reduces the signal's quality. As a result, fiber optic cables are preferred for applications such as voice and video communications, and their revenue growth is increasing. The market's revenue growth is further fueled by the increasing demand for fiber optic cables in telecommunications services, such as internet, television, and telephones.
Fiber optics are used for long-distance and high-performance data networking, such as Verizon and Google Fiber, which both use fiber optics to provide gigabit internet speeds to their customers. Fiber optic cables also offer various advantages over other forms of communication cables, such as high bandwidth, reduced interference sensitivity, reduced thickness, less weight, and the ability to send data digitally.
The Internet of Things (IoT) is also driving the market's revenue growth, as it is becoming increasingly popular in sectors such as education, healthcare, retail, transportation, and others. The sensors in thermostats, industrial machinery, printers, TVs, and refrigerators are all controlled by these gadgets, and fiber optic cables are necessary for Local Area Networks (LAN). The effectiveness and speed of the IoT are improved by fiber optic components such as switches, cables, Power over Ethernet (PoE) components, media converters, and connectors. These components make it possible to connect various networks such as Ethernet and fiber together and extend the geographic range of transmission.
Market Dynamics
Driver: Rising demand for high bandwidth
The primary driver of revenue growth in the fiber optic cable market is the rising demand for high bandwidth. Fiber optic networks offer significantly faster speeds compared to copper internet connections, with bandwidth options ranging from 5 Mbps to 100 Gbps, and are capable of carrying far more data. This is due to the higher signal bandwidth and Bandwidth-Distance Product of fiber optic cables, which is significantly greater than copper cables of the same diameter. Additionally, advancements in the telecom industry have led to an increased use of broadband network architectures, further driving revenue growth.
Fiber optic cables are also more resilient to adverse weather conditions, temperature variations, and moisture, which is another factor contributing to revenue growth. Unlike copper cables, fiber optic cables do not have any metllic components, so communication is not disrupted by rainwater or lightning strikes. This makes fiber optic cables a preferred option for rugged environments, such as outdoor, long-distance, and industrial applications.
The increasing demand for faster internet speeds is also driving revenue growth in the fiber optic cable market. Fiber optic access allows for internet speeds of up to 100 Gbps, which prevents internet slowdowns during times of high demand. This results in improved voice quality for VoIP and quicker data transfers to the cloud, along with faster download speeds, which in turn is driving revenue growth of the market.
Restraint: High cost of installation
The fragility of fiber cables, which are typically made of glass, is a major disadvantage. They are more delicate than metallic wiring because they are lighter and thinner. Fiber optic networks are vulnerable to chemical and radiation damage, and their fragile cables can be easily cut during building renovations or rewiring. In addition, the bend radius of fiber cables is limited, making it challenging to install fiber around corners, as too much bending can weaken or disrupt the signal. These factors significantly impede revenue growth in the market.
The cost of fiber is another factor that limits revenue growth in the fiber optic market. The initial setup costs for a fiber optic network can be high because it requires experienced technicians and specialized tools. Additionally, if the network is damaged, it can be expensive to diagnose and repair the problem.
Key Takeaways
Type Outlook
The global fiber optic cable market is divided into two segments based on type, glass and plastic. Glass optical fibers are the most widely used fibers as they are durable and conduct light from the light source to the other end of the fiber. Glass fiber optic cables are primarily used in communication, sensor, and measurement systems, and can also be used in corrosive and moist conditions, cold storage warehouses, furnaces, ovens, and condensers in big engines.
On the other hand, plastic optical fibers (POF) are made of plastic or polymeric material for the cladding and glass for the core. These fibers are effective when used with sources of visible red status indicator light, as they are made from a single monofilament of acrylic. They are also inexpensive and stretch further without breaking.
Cable Outlook
The global fiber optic cable market is also segmented into single-mode and multi-mode based on cable type. Single-mode cables are intended to transport a single light beam at a time, primarily serving long-distance telecommunication applications, and use lasers with a wavelength of 1,310 nm to 1,550 nm as their light source.
Single-mode cables have a substantially smaller core diameter and can transport data at up to 10Gb/s across longer lengths. Multi-mode cables often have thicker core diameters and can transmit light at wavelengths ranging from 850 nm to 1,300 nm. Multimode cables are most frequently used in LAN for data and Audio/Visual (A/V) applications owing to their capacity to carry several light modes and the possibility to utilize less expensive light sources.
Deployment Outlook
The global fiber optic cable market is divided into underground, underwater, and aerial segments based on deployment. The underground segment is expected to register the largest revenue share over the forecast period, as the cables are less likely to be harmed by bad weather or wildlife since they are buried underneath. Underground cables are used more effectively in metropolitan areas with limited room for telecommunications cable.
Application Outlook
Lastly, the global fiber optic cable market is segmented into communication and non-communication based on application. The communication segment is expected to register significantly rapid revenue CAGR over the forecast period. Fiber optic cabling is utilized in places such as industrial buildings where sizable motors, controllers, and air conditioners are frequently started and stopped.
Regional Outlook
In 2021, North America held the largest share of the global fiber optic cable market revenue due to the growing demand for better connectivity and extensive usage of 3G/4G services in countries like the U.S. and Canada. The market is also being driven by increasing needs for fast data and high bandwidth, as well as rising usage of fiber optic connectors for data security. The adoption of fiber optic connectors in online gaming and video services is also contributing to revenue growth in the region.
Key Topics Covered:
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Fiber Optic Cable Market Segmentation & Impact Analysis
4.1. Fiber Optic Cable Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers' analysis
4.2.2.1. Rising internet penetration and surge in data traffic
4.2.2.2. Increasing number of data center facilities globally
4.2.2.3. Growing demand for high bandwidth
4.2.3. Market restraints analysis
4.2.3.1. Rising preference for wireless communication
4.2.3.2. High cost of installation
Chapter 5. Fiber Optic Cable Market by Type Insights & Trends
Chapter 6. Fiber Optic Cable Market by Cable Insights & Trends
Chapter 7. Fiber Optic Cable Market by Deployment Insights & Trends
Chapter 8. Fiber Optic Cable Market by Application Insights & Trends
Chapter 9. Fiber Optic Cable Market Regional Outlook
Chapter 10. Competitive Landscape
Chapter 11. Company Profiles
Companies Mentioned
- TE Connectivity
- Corning Incorporated
- Amphenol Corporation
- Infinite Electronics International Inc.
- Hitachi Information & Telecommunication Engineering
- Ltd.
- Belden Inc.
- Ratioplast-Electronics
- Panduit
- RS Components Pte. Ltd Robinson Road
- NEXANS.
For more information about this report visit https://www.researchandmarkets.com/r/u4q01z
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