Harrisburg, NC -- (SBWire) -- 10/14/2020 --The Fiber Optic Cable Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies. We analyzed the impact of COVID-19 (Corona Virus) on the product industry chain based on the upstream and downstream markets, on various regions and major countries and on the future development of the industry are pointed out.

The global fiber optic cable market was worth $37.95 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 23.2% and reach $87.58 billion by 2023.

The fiber optic cable market consists of sales of fiber optic cables and related services that are used in telecom, CATV, broadcasting, military/aerospace, healthcare, power, and new energy. A fiber optic cable is an optical cable containing one or more optical fibers that are capable of transmitting the messages into light waves. The fiber optic cable market is segmented by product type into single-mode cable and multi-mode cable. It is also segmented by application into telecom, oil & gas, military & aerospace, BFSI, medical, imaging, railway and others.

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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Fiber Optic Cable Market: Corning Inc., Sumitomo Electric Industries Ltd, Prysmian Group, Sterlite Technologies Ltd, Fujikura Ltd, TE Connectivity, 3M, Amphenol and Molex.

Industry News and Updates:

April 24, 2020: Sumitomo Electric Acquires Thunderbolt 3 Certification for Active Optical Cables

Sumitomo Electric Industries, Ltd. is proud to announce that it has acquired Thunderbolt 3 certification for its new active optical cables (AOCs) from Intel Corporation, the company that established the Thunderbolt 3 standard. Sumitomo Electric developed 40 Gbps Thunderbolt 3 AOCs for high-speed transmission to meet the needs for long-distance transmission.

Thunderbolt is a general-purpose fast data transmission standard for data communication between a personal computer and peripheral devices such as displays.*1 Sumitomo Electric undertook the development of Thunderbolt cables based on technical specifications disclosed by Intel, the developer of the technology. In 2010, Sumitomo Electric acquired the world's first Thunderbolt certification. In November 2015, the Company obtained another certification for Thunderbolt 3 cables (electric cables) that enable 40 Gbps transmission.*2 Since then, Sumitomo Electric has been selling Thunderbolt 3 cables as a major vendor of the products.

October 5, 2018: Corning plans to build $60 million fiber optic cable plant in North Carolina

Corning Inc. has signed up to be the first tenant in a new business park being built in Hickory, North Carolina, a $60 million investment in its Optical Communications division. A story by David Boraks, WFAE, said that city and Catawba County officials report that the plant will be built on 27 acres at the Trivium Corporate Center, between Robinwood and Startown roads. Local officials had been referring to the plan as "Project Wave" during negotiations with Corning.

The announcement came after the Hickory City Council and Catawba County Commission approved a series of incentives that provide Corning the land, valued at $605,000, and granting up to $1.7 million in tax rebates over five years. Corning also was given an option to acquire another 4.4 acres. The project was expected to create 110 new jobs, the report said. Corning has committed to creating 75 new jobs by Dec. 31, 2020, and the remainder by Dec. 31, 2023. The manufacturing capacity will be used to produce a range of optical fiber and cable.

Key Market Trends

Rising demand for higher bandwidth and faster speed connections will enhance the growth of the fiber optic cable market. There is a surge in demand for high bandwidth from enterprises and individuals due to increased use of the internet for video calls, gaming, online shopping, and social media. Fiber optic cable use light to transmit data instead of electricity so that it can enhance and speed up the internet connections that are capable of handling higher bandwidth. For example, 4K Ultra High Definition (UHD) TV at homes consumes approximately 15-18 Mbps of data which is three times more than the plain HD TV. By 2022, it is estimated that about 62% of connected flat panel TV sets will be 4K. This focus on increasing demand for higher bandwidth increasing video consumption. Thus, rising demand for faster speed connections and higher bandwidth is driving the fiber optic cable market's growth.

The technological advancement in the fiber optic cable is a key trend driving the growth of the fiber optic cable market. Wavelength division multiplexing (WDM) is the recent technological improvement in the fiber cables. Wavelength division multiplexing is a technique of multiplexing the number of optical carrier signals through a single optical fiber channel by varying the wavelengths of laser lights. WDM allows communication in all directions in fiber cable. WDMs are used on a single optical fiber to blend light signals coming from different optical fibers. This is attained by using a coupler at the WDM input. In 2023, Asia-pacific is expected to be the fastest growing market for WDMs and multiple companies in China such as ZG Technology, Optic Network Technology, are the leading manufacturers and suppliers of WDMs.

In June 2018, Prysmian Group, an Italian based electric power transmission and telecom cables and systems manufacturer, acquired General Cable Corporation for a deal amount of $30 per share in cash. The acquisition of General Cable Corporation was aimed to strengthen Prysmian Group in the business of cables and wires. After completion of the transaction, General Cable has become a privately held company, and therefore, shares of the General Cable are no longer listed on NYSE or any other public market. General Cable Corporation, a USA based company, specialized in the manufacturing of cables and wires with manufacturing facilities in core geographical markets and sales distribution across worldwide.

The increase in the adoption of wireless communication systems is expected to limit the growth of the fiber optic cable market. In recent years, demand for wireless services increased exponentially. The emergence of new technologies such as the internet of things (IoT) has increased the adaption of wireless communication systems. According to GSMA, the total contribution of the mobile industry, in 2018 was US$ 3.9 trillion which is equivalent to 4.6% of global GDP. The number of smartphone users worldwide expected to reach 2.87 billion in 2020 from 2.1 billion in 2016. Therefore, the high usage of wireless communication systems is hindering the growth of the fiber optic cable market.

The research study evaluates the overall size of the market, by making use of a bottom-up approach, wherein data for different industry verticals, and end-user industries and its applications across various product types have been recorded and predicted during the forecast period. These segments and sub-segments have been documented from the industry specialists and professionals, as well as company representatives, and are outwardly validated by analyzing previous years' data of these segments and sub-segments for getting an accurate and complete market size.

Markets Covered:

1) By Product Type: Single-mode Cable; Multi-mode Cable;

2) By Application: Telecom; Oil & Gas; Military & Aerospace; BFSI; Medical; Imaging; Railway; Others

Influence Of The Fiber Optic Cable Market Report:

-Comprehensive assessment of all opportunities and risk in the Fiber Optic Cable market.
- Fiber Optic Cable market recent innovations and major events.
-Detailed study of business strategies for growth of the Fiber Optic Cable market-leading players.
-Conclusive study about the growth plot of Fiber Optic Cable market for forthcoming years.
-In-depth understanding of Fiber Optic Cable market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the Fiber Optic Cable market.

The report has 150 tables and figures browse the report description and TOC:

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What Are The Market Factors That Are Explained In The Report?

Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

Analytical Tools: The Global Fiber Optic Cable Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

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