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Absolute Markets Insights, a communications market research institution, recently released a report that the global fiber optic cable market will reach $13.
87 billion by 2021, with a compound annual growth rate of about 5.
8%.
According to the report, the increasing demand for long-distance data transmission and increasing network activities are contributing to the expansion
of the market.
Another driver is the penetration
of mobile phones and other handheld devices such as tablets and laptops in the consumer market.
At the same time, the growing demand for high-speed internet connectivity continues to drive the fiber optic cable market
.
In 2017, the global fiber optic cable market size was about $11.
07 billion, of which the Asia-Pacific region was the largest regional market with $6.
28 billion, followed by North America and Europe
.
In terms of application areas, telecommunications and broadband are expected to dominate by 2021
.
Fiber optic cables support high-speed data transmission services
in small and long-distance communications.
These cables have tremendous growth potential
in a wide range of applications in healthcare, aerospace and defense, railways, and oil and gas.
In addition, growing audio and video services, cloud computing technology and video-on-demand (VoD) services have further increased the demand
for fiber optic cables.
From a regional point of view, North America is in the forefront of growth
.
In North America, fiber optic lighting is used in a variety of medical, commercial, and modern applications
.
The defense sector is also using fiber optics as American manufacturers are developing ground-based tactical fiber optic cables and connection solutions for the US military? case
.
It should be noted that high expenses and complex installation processes are the major threats
to the growth of the market.
Although the installation cost of fiber optic cables has decreased by 60%, its cost of use is still higher
than that of traditional copper cables.
From the perspective of market participants, Prysmian Group (which has acquired General Cable), Corning, Sumitomo Electric, Belden Corporation, Fujikura, OFS, Changfei Fiber, Futong Group, etc.
will become the world's leading fiber optic cable manufacturers
.
Absolute Markets Insights, a communications market research institution, recently released a report that the global fiber optic cable market will reach $13.
87 billion by 2021, with a compound annual growth rate of about 5.
8%.
According to the report, the increasing demand for long-distance data transmission and increasing network activities are contributing to the expansion
of the market.
Another driver is the penetration
of mobile phones and other handheld devices such as tablets and laptops in the consumer market.
At the same time, the growing demand for high-speed internet connectivity continues to drive the fiber optic cable market
.
In 2017, the global fiber optic cable market size was about $11.
07 billion, of which the Asia-Pacific region was the largest regional market with $6.
28 billion, followed by North America and Europe
.
In terms of application areas, telecommunications and broadband are expected to dominate by 2021
.
Fiber optic cables support high-speed data transmission services
in small and long-distance communications.
These cables have tremendous growth potential
in a wide range of applications in healthcare, aerospace and defense, railways, and oil and gas.
In addition, growing audio and video services, cloud computing technology and video-on-demand (VoD) services have further increased the demand
for fiber optic cables.
From a regional point of view, North America is in the forefront of growth
.
In North America, fiber optic lighting is used in a variety of medical, commercial, and modern applications
.
The defense sector is also using fiber optics as American manufacturers are developing ground-based tactical fiber optic cables and connection solutions for the US military? case
.
It should be noted that high expenses and complex installation processes are the major threats
to the growth of the market.
Although the installation cost of fiber optic cables has decreased by 60%, its cost of use is still higher
than that of traditional copper cables.
From the perspective of market participants, Prysmian Group (which has acquired General Cable), Corning, Sumitomo Electric, Belden Corporation, Fujikura, OFS, Changfei Fiber, Futong Group, etc.
will become the world's leading fiber optic cable manufacturers
.
