The main objective of this report is to define, describe, and forecast the global “Fiber Optic Cable” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micro-markets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market.
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Increasing demand for cost-effective solutions to promote growth in the fiber optic cable market
The rising demand for high standard internet services for cloud services, e-commerce, social media, and several others activities are driving the growth of the fiber optic cables. Furthermore, increasing demand for cost-effective, power-efficient and high-level integration of IT infrastructure are the factors anticipated to boost the demand over the forecast period. In addition, Fiber optic cables are used for aquaculture beneath the sea. However, the installation of the entire system is a labour-intensive process especially for the installation of the network for underground and undersea connections that is one of the costliest processes. This, in turn, is likely to hamper the growth of the global fiber optic cable market.
However, capital investment used in the development of new fabrication technologies will pose a challenge to the market demand. Furthermore, considering the immense benefits of fiber optics, a huge number of providers are shifting their focus towards establishing optical networks. Hence, the introduction of the internet of things is projected to generate high demand for internet bandwidth over the upcoming years. In addition, silicon-based optic fibers are being replaced with polymer optical fibers which offer easy and cost-efficient processing of optical signals. Moreover, advances in technologies leading to an increase in the data transmission rates are the factors providing immense growth opportunities for the key players in the global fiber optic cables market.
North America region to contribute to growth in the global fiber optic cable market
North America dominated the global fiber optic market. The Asia Pacific regional market is growing due to the increased technological advancements owing to the large-scale adoption in IT, telecommunication, and administrative sector that requires high-speed internet connectivity. Moreover, the rising demand for the internet in emerging countries like India, China & Taiwan, and increased industrialization are driving the market in the Asia Pacific region. The governments in the developed countries such as the UK, Germany and Japan are investing heavily to enhance the security infrastructure on individuals and country levels. In addition, Europe is anticipated to hold a significant share in the global fiber optic cable market.
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Corning announced an acquisition of 3M
In Dec 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.
The major key players in Fiber Optic Cable Market are Prysmian Group, Corning Inc., Finisar, AFL Global, Sumitomo Electronics Industries, Ls Cable & System, Leoni AG, Furukawa Electric, General Cable Corporation and Finolex.