According to Goldstein Research, “Growing demand for high bandwidth communication and high-speed data services are accelerating the growth of fibre optic cable market. Wide applications of fibre optic cables in telecommunication sector are supporting the increasing demand for fibre optic cable across the globe. However, mounting demand for wireless communication systems may hinder the growth of the fibre optic cable market in the near future.”
Global fibre optic cable market is segmented on the basis of cable type, by optical fibre type and by the application. Based on application segment, telecommunication applications are expected to witness significant growth during the forecast period. Rising adoption of fibre optics enabled high-speed data transmission services for small and long distance communications are expected to fuel the growth of fibre optic cable market during the forecast period.
Global fibre optic cable market is expected to reach over USD 10 billion by 2024 registering a healthy CAGR during the forecast period. Global fibre optic cable demand is estimated to reach 656 million fibre km by 2024. Advancement in technology and expansion of telecommunication sector in countries such as the UAE, Iran, South Africa and Saudi Arabia are likely to create a pool of opportunities for fibre optic cable market in the Middle East & Africa region.
Fibre Optic Technology Innovations: Fuelling Market Growth
Evolution in optical technology for better data transmission is impelling the growth of fibre optic cable market. Leading market players are continuously spending on innovations for fibre optic cables for diversifying their portfolio and to strengthen their market presence. For instance, Sandia National Laboratories has deployed world’s largest fibre optic local area network. America based GeoTel Communications introduced fibre maps which provide high-quality street data. These innovations in optical fibre technology are expected to bring new scope for the development of fibre optic cable market.
Global Fibre Optic Cable Market
The report contains a detailed overview of the global fibre optic cable market in terms of market segmentation by cable type, by optical fibre type and by the application. Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global fiber optic cable market also provides competitive outlook of some of the major players of global fibre optic cable market which includes profiling of companies such as Prysmian Group, HTGD, AFL, Furukawa Electric,Corning, YOFC , Futong Group, Fujikura, Sumitomo Electric, Tongding Optic-Electronic, CommScope , Sterlite , FiberHome , Jiangsu Etern , ZTT , General Cable , Belden , Fasten Group , Nexans , Kaile, AFC, Optical Cable, Yangtze Optical Fibre & Cable, Cable Joint Stock Limited Company, Ofs Fite, Finolex Cable Limited, Australian Fibreoptic Communications and LS. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global fibre optic cable market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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