The Global Optical Fiber Cable Market is estimated to grow at a significant CAGR of 12.6% over the forecast period as the scope and its applications are rising enormously across the globe. An Optical Fiber Cable, also termed as a fiber optic cable, is a network cable with optical fibers bundled together in a protective plastic cover. It is used to transfer digital data signals in the form of light pulses along a plastic or glass fiber or strand. They are intended for telecommunications, long distance, and very high-performance data networking. Light emitting diodes (LEDs) or small lasers form the communication signals.
The factors that are playing a major role in the growth of Optical Fiber Cable Market are growing penetration of broadband connections among developing and developed regions and increasing need for improved and fast network services. However, high cost for installation of optical fiber cable may restrain overall market growth in the years to come. Optical Fiber Cable Market is segmented based on type, mode, material type, end-user, and region.
Graded indexed optical fiber and step indexed optical fiber are types that could be explored in Optical Fiber Cable in the forecast period. Multi-mode and single-mode are the mode types that could be explored in Optical Fiber Cable in the forecast period. The single-mode sector accounted for the substantial market share of Optical Fiber Cable and is estimated to continue its dominance in the years to come. This may be because of its several advantages like great data-transmitting abilities, high dispersion and attenuation, and others.
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Glass, plastic, and other fiber materials could be explored in Optical Fiber Cable in the forecast period. The market could be categorized based on end-users like aerospace & defense, telecom & IT, energy & utilities, broadcast, medical, industrial, and others could be explored in the forecast period. Telecom & IT sector accounted for the significant market share of Optical Fiber Cable and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be increased need for faster speed and greater bandwidth connections.
Globally, North America accounted for the significant market share of Optical Fiber Cable and is estimated to lead the overall market in the years to come. However, Asia Pacific is estimated to grow at the highest CAGR in the foremost period. The aspects that may be ascribed to the growth comprise technological enhancement due to acceptance in administrative and IT & telecommunication sector. The developing countries like India and China are the major consumers of Optical Fiber Cable in this region.
The key players of Optical Fiber Cable Market are Amphenol Corporation, Corning Inc., Broadcom Limited, Yangtze Optical Fiber and Cable Co Ltd., Alcatel Lucent, Optical Cable Corporation, Fujikura Limited, OFS Fitel, LLC, Sterlite Technologies, and Finolex Cable Limited. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition.
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