The Fiber Optic Cable Market Companies is growing rapidly, witnessing vast demand for various applications, including computer networking, broadcasting, medical scanning, and military equipment. Fiber optic cable cables are predominantly used in telecom and data management (internet service providing companies) to carry information over long distances superior to copper cables with higher bandwidth and no signal loss or interference.
Fiber optic cables offer high bandwidth allowing more data at the lighting speed. Besides growing opportunities in the healthcare sector, such as endoscopic imaging applications and biomedical sensing applications boost the market growth. The market is projected to garner substantial prominence. According to Market Research Future (MRFR), the Fiber Optic Cable Market Companies is expected to evaluate exponentially by 2027, registering a significant CAGR during the forecast period (2020-2027).
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Fiber Optic Cable to Become an Alternative to Satellite Communication
Demand for high-speed internet is a major tailwind behind the market growth. Also, the market is mainly driven by the rising demand for fiber optic cables and high-speed internet as traditional wires cannot meet the expectation. Growing countries that are adopting the new technology for high-speed internet are creating huge market demand. Major opportunities in the market are technological advances leading to an increase in the data transmission rate and factors & trends defining the telecommunications industry across the globe.
Additionally, fiber optic cable empowers data transmission, which along with the growing adoption of cloud computing, data transfer & storage, and IoT, fuels the market's growth. Vast consumption of fiber optics cable components such as optical connectors, adapters, optical assemblies, optical backplanes, optical circuitry, termination kits, and tooling fosters market growth.
Fiber Optic Cable Market Companies - Segments
The market is bifurcated into types, applications, and regions. The type segment is sub-segmented into single-mode and multi-mode. The application segment is sub-segmented into submarine cable, long-distance communication, local mobile metro network, cable television (CATV), fiber to the X (FTTX), local access networks, and others. The region segment is sub-segmented into North America, Europe, Asia Pacific (APAC), and the Rest-of-the-World (RoW).
Fiber Optic Cable Market Companies - Regional Analysis
North America dominates the Fiber Optic Cable Market Companies. The largest market share attributes to the vast demand for high-speed internet bandwidth.
Fiber Optic Cable Market Companies - Competitive Analysis
The market appears to be highly competitive and diversified, with the presence of a large number of players having a global presence. These players focus on optimizing situational awareness for customers and ensure their mission success.
Major Players:
Players active in the fiber optic cable market include ZTT International Limited (India), Hengtong (China), Nexans SA (France), TongDing, Group Co., Ltd. (China), Fiber Home (China), Belden (US), Futong (Hong Kong), SterliteTech (India), Kaile Science and Technology Co, Ltd. (China), Corning Inc. (US), CommScope Inc. (US), FOLAN (UK), Prysmian Cables & Systems Limited (UK), FUJIKURA LTD. (Japan), YOFC (China), Jiangsu Fasten Company Limited (China), Furukawa Electric Co. Ltd. (Japan), and Sumitomo Electric, Ltd. (Japan), among others.
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Industry/Innovation/Related News:
July 22, 2021 – Comcast (the US), a telecommunications company, announced that it can now pinpoint fiber optic cable breaks within minutes. The company has also been able to figure out how to build redundancies into the network to hold up in the case of accidents, such as a backhoe operator cutting a fiber-optic cable. Comcast states that investments in artificial intelligence software and network capacity have helped it meet internet traffic demand during the pandemic.
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