New York, United States , April 23, 2024 (GLOBE NEWSWIRE) -- The Global Optical Cable Market Size is to Grow from USD 12.18 Billion in 2023 to USD 27.12 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 8.33% during the projected period.
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An optical cable, also known as an optical fiber cable, is an assembly that resembles an electrical cable but contains many optical fibers that are used to transmit light. Each optical fiber element is typically protected in a tube suitable for the environment in which it is used and covered in a layer of plastic. Additionally, several types of cables are used for optical communication for different reasons, such as rapid data connections between different parts of a structure or long-distance phone calls. Moreover, the expansion of the Internet of Things (IoT) and the surge in consumer data consumption are anticipated to drive the optical fiber network's development. One of the primary factors propelling the expansion of the optical cable industry is the increasing worldwide adoption of fiber optic technology. The expanding healthcare sector and the increased demand for high-bandwidth connectivity both have favorable effects on the industry. In addition, the business is expanding faster as a result of increased government spending on building infrastructure for telecommunications. However, it is anticipated that the market will be constrained by high investment costs, the uptake of wireless broadband, and other technological issues. It is also projected that the global optical cable market will face difficulties due to the requirement for new infrastructure.
Browse key industry insights spread across 200 pages with 120 Market data tables and figures & & charts from the report on the "Global Optical Cable Market Size, Share, and COVID-19 Impact Analysis, By Fiber Type (Glass, Plastic), By Cable Type (Single-mode, Multi-mode), By End-User (Telecom and Networking, Industrial Automation, Medical, Defense, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The glass segment is anticipated to hold the greatest share of the global optical cable market during the projected timeframe.
Based on the fiber type, the global optical cable market is divided into glass and plastic. Among these, the glass segment is anticipated to hold the greatest share of the global optical cable market during the projected timeframe. This is expected because glass optical fibers have bigger numerical apertures than plastic optical fibers, which let in more light rays into the system. With a range of 200–2200 nm, they are far more widespread.
The single-mode segment is anticipated to hold the largest share of the global optical cable market during the projected timeframe.
Based on the cable type, the global optical cable market is divided into single-mode and multi-mode. Among these, the single-mode segment is anticipated to hold the largest share of the global optical cable market during the projected timeframe. Single-mode fiber optic cables have a significantly faster data transfer rate and can transport signals over longer distances than multi-mode fibers. Because single-mode fiber optic cables are used in long-distance transmission applications, there is a growing need for them.
The telecom and networking segment is predicted to grow at the highest pace in the optical cable market during the estimated period.
Based on the end-user, the global optical cable market is divided into telecom and networking, industrial automation, medical, defense, and others. Among these, the telecom and networking segment is predicted to grow at the highest pace in the optical cable market during the estimated period. This is because optical cable enables high-speed data transmission services for both short- and long-distance communications. The growing popularity of cloud-based apps, audio-video services, and video-on-demand (VoD) services is driving up demand for fiber optic installations.
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Asia Pacific is expected to hold the largest share of the global optical cable market over the forecast period.
Asia Pacific is expected to hold the largest share of the global optical cable market over the forecast period. China was the nation whose need for optical fiber cables was highest. Chinese telecom operators have deployed fiber in almost all telecom applications, including intra- and intercity networks and mobile cellular systems. Chinese enterprises and government organizations are implementing fiber optic technologies for a variety of uses, including data centers, pipelines, railroads, highways, airports, and the electrical grid.
North America is predicted to grow at the fastest pace in the global optical cable market during the projected timeframe. The increased need for high-speed internet and data transfer is the cause of this. The United States is one of the biggest users of fiber optic technology, with many telecommunications and technology businesses investing in fiber optic networks. The increasing application of fiber optics in a range of end-user industries, such as healthcare and defense, is contributing to the growth of the region's economy. The rise of smart cities and the increasing adoption of IoT technologies will result in a greater need for fiber optics in North America.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Optical Cable Market include General Cable Corporation, Corning Inc., Finisar, Leoni AG, Sumitomo Electronics Industries (SEI), Ls Cable & System, Furukawa Electric, AFL Global, Finolex Prysmian Group, and Others.
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Recent Developments
- In April 2023, Prysmian Group unveiled the first optical cables to receive environmental certification. The ECO CABLE products aim to meet the increasing demand for sustainability from the telecom sector and all of its stakeholders.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Optical Cable Market based on the below-mentioned segments:
Global Optical Cable Market, By Fiber Type
- Glass
- Plastic
Global Optical Cable Market, By Cable Type
- Single-mode
- Multi-mode
Global Optical Cable Market, By End-User
- Telecom and Networking
- Industrial Automation
- Medical
- Defense
- Others
Global Optical Cable Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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