February 27, 2020

Fiber Optic Cables Market will be growing at a CAGR of 7.2% during the forecast period from 2018 to 2026

According to a new market report published by Credence Research Inc., “Global Fiber Optic Cables Market – Growth, Future Prospects, and Competitive Landscape, 2018 – 2026”, the global market for fiber optic cables is expected to show a CAGR of 7.2 percent to reach US$ 7.95 billion by 2026 during the forecast period.

Product Insights

The fast-growing internet traffic worldwide is the most prominent driver of the market for fiber optic cables. With the increase in the number of mobile devices, the number of Internet users has increased rapidly since the last few years. As of March 2017, there were almost 3.74 billion Internet users worldwide, resulting in a higher demand for internet bandwidth. The demand for continuous bandwidth is generating significant growth in the global market for fiber optic cables. The fiber optic cable provides a constant, stable and fast internet connection that allows high-speed data transfer with minimal interference. Recently, because of their wide range of advantages over electrical transmission, it has become apparent that fiber optic cables are rapidly replacing copper cables and other metal wires.

Browse Full Report Originally Published by Credence Research at https://www.credenceresearch.com/report/fiber-optic-cables-market

Some of the main advantages of fiber optic cables are as follows:

  • Higher bandwidth with less attenuation
  • High information-carrying capacity
  • Resists electromagnetic interference
  • Low signal degradation
  • Light-weighted
  • Smaller size
  • Ease of accommodating increasing bandwidth

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, the number of network providers is shifting towards establishing optical networks. The advent of the Internet of Things (IoT) is expected to generate high demand for internet bandwidth in the following years. Thus, a growing number of connected devices is expected to further support the market growth. However, high installation costs coupled with the complex installation process of fiber optic cables act as a restraint 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

Competitive Insights:

The growth of fiber optic cables has been very rapid in recent years with ubiquitous demand for high-speed internet. As a result, market players emphasize on developing more sophisticated optical cables that can offer high-speed internet with reduced need for amplifiers. In addition, mergers & acquisitions have emerged as a prominent strategy for market players seeking to expand their business. For instance, in 2017, Corning, Inc. announced the acquisition of 3M’s Communications Unit. The acquisition is completed to help Corning further expand its geographic reach and optical product offerings. Major players identified in the global fiber optic cable market include Corning, Inc., Finisar Corporation, Prysmian Group, AFL Telecommunications LLC, Sumitomo Electric Industries, Ltd., LS Cable & System Ltd., LEONI, Furukawa Electric Co., Ltd., Finolex Cables Ltd., General Cable Technologies Corporation, Yangtze Optical Fiber, and Cable Joint Stock Ltd. Co. and Sterlite Technologies Ltd.

Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/59002

[Note: Our Free Complimentary Sample Report Accommodate a Brief Introduction To The Synopsis, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology are also Included]

Report Scope by Segments

By Fiber Type Segment

  • Single Mode
  • Multi-mode

By Material Segment

  • Glass Optical Fiber
  • Plastic Optical Fiber

By Application Segment

  • Banking, Financial Services & Insurance (BFSI)
  • Defense & Aerospace
  • Oil & Gas
  • Healthcare
  • Telecom
  • Others (Transportation, Industrial, etc.)

By Geography Segment

  • North America (the U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of World (Middle East & Africa (MEA), Latin America)

Key questions answered in this report

  • What was the market size of fiber optic cables in 2017 and forecast up to 2026?
  • Which is the largest regional market for fiber optic cables?
  • What are the key market trends observed in the fiber optic cables market?
  • Which are the most promising fiber type and applications in the fiber optic cables market?
  • Who are the key players leading the market? What is the impact of regional players on international players?
  • What are the key strategies adopted by the leading players in the market?
  • What are the key internet usage trends across different geographies and sub-geographies?

Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/59002

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