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Global Fiber Optic Cable Assembly Market Was Valued At 5497 Million US$ In 2018
Fiber optic cable assemblies consist of an optical fiber, a reinforcement strand for support, and fiber optic connectors.
Fiber Optic Cable is a cable containing one or more optical fibers that are used to carry light. The optical fiber elements are typically individually coated with plastic layers and contained in a protective tube suitable for the environment where the cable will be deployed.
The Fiber Optic Cable Assembly market was valued at 5497 Million US$ in 2018 and is projected to reach 9361 Million US$ by 2025, at a CAGR of 7.9% during the forecast period. The market for Fiber Optic Cable Assembly is fragmented with players such as Corning, TE Connectivity, CommScope, 3M, Fujikura, Amphenol, Molex, Prysmian, OFS Furukawa, Belden, Sumitomo, HUBER + SUHNER, Nexans, LS cable, Aptiv, YOFC, HTGD, Radiall, and so on. Among them, Corning, TE Connectivity, CommScope and 3M is the global leading supplier. Top three players account for 25% market share.
On the basis of type, the Fiber Optic Cable Assembly market is segmented into Single-Mode FOC
Multi- Mode FOC. Multi- Mode FOC will occupy more share in the future.
Applications, included in this market are Telecom/Datacom, CATV and Broadcasting, Military/Aerospace, Power and New Energy, Healthcare, Others. The telecom application is expected to account for the largest share of the global market in 2018.
Based on regions, the global Fiber Optic Cable Assembly market is segmented into North America, Europe, China, Japan and the Rest of the World (ROW). Asia and North America is expected to account for the largest share and China is growing fastest of the market during the forecast period.
The most prominent factor driving the fiber optic cables market growth is rapidly growing internet traffic worldwide. With increasing proliferation of mobile devices, number of internet users is on rapid rise since the past few years. As of March 2017, there were nearly 3.74 Bn internet users across the globe, resulting into higher requirement of internet bandwidth. The demand for unceasing bandwidth is yielding significant growth in the global fiber optic cables market. Fiber optic cable provides a constant, stable and fast internet connection that allows high speed data transfer with minimal interference. In recent past, it has become noticeable that fiber optic cables are rapidly replacing copper cables and other metal wires due to their wide range of advantages over electrical transmission.
Furthermore, increasing expenditure on network infrastructure development is another major factor pushing the demand for fiber optic cables. Considering the immense benefits of fiber optic cables, more number of network providers are shifting towards establishing optical networks. Advent of Internet of Things (IoT) is expected to generate high demand for internet bandwidth in the following years. Thus, growing number of connected devices is expected to further support the market growth. However, high installation costs coupled with complex installation process of fiber optic cables acts as a restrain to the market. In addition, lack of industry standards have also hindered the demand for fiber optic cables in industrial environments as well as in subscriber networks.
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