According to a new market research report published by sheer analytics and insights, “The Global Fiber Optic Cables Market was $6.8 Bn in 2019, and it is expected to reach $16.9 Bn by 2028. It is eventually growing at a commendable high compound of annual growth rate CAGR of 11.8% between 2020-2028″, as per the latest market research report titled Global Fiber Optic Cables Market (By Cable Type – Single-Mode, and Multi-Mode. By Material – Glass, and Plastic. By applications – Communication, Power Transmission, Sensor, and Others. By Geography-North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)– Global industry analysis, size, share, growth, trends, and forecast, 2019-2028.
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Fiber Optic Cables transmit communication signals using pulses of light generated by small lasers or light-emitting diodes (LEDs). A fiber optic cable comprised of one or more optical fibers. These fibers are coated by a layer of plastic and integrated into a protective coating depending on the environment where the cable will be placed. Fiber technology has transformed data transmission, voice, and video streaming experience. Fiber optics cable deployed on the internet helps to offer even more bandwidth that empowers consumers to send and receive heavy data on video calls, streaming online videos and Tv shows. The standard bandwidth of fiber optic cable can go up to 2Gbps. The market is majorly driven by the increasing importance of faster data transfer and storage. Rising new technology such as the Internet of Things (IoT) and an increasing number of connected devices such as smartphones, wearable devices, and tablets are also some of the factors that fuel the growth of the Fiber Optics Cable Market rapidly. These cables are considered to be a fast and reliable medium for data transfer. Further, the significant advantages of fiber optic cables such as resistance to obstructions from vibrations and electricity, and capability to offer higher bandwidth as compared to traditional cables also trigger the market growth over the forecast period. However, high costs and complex installation of fiber optics cable and increasing wireless technology can restrict the market growth to some extent. Apart from this, the launch of 5G communication technology across the world is projected to offer a lucrative opportunity for market growth in the forecast period from 2020 to 2028.
Geographically, The Fiber Optics Cables Market is divided into global regions like North America, Europe, Asia- Pacific, Latin America, Middle East, and Africa.
The primary key players in the Fiber Optics Cables Market include AFC Cable Systems, Finisar Corporation, Corning Inc., Fujikura Ltd., Furukawa Electric Co. Ltd., Hitachi Cable Ltd., Optical Cable Corporation, Prysmian Group, Sterlite Technologies Ltd., Sumitomo Electric Industries Ltd., Corning Inc., General Cable Corporation, Finolex Cables Ltd, Paramount, and Yangtze Optical Fiber & Cable.
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The Global Fiber Optics Cable Market Has Been Segmented into:
Global Fiber Optics Cable Market: By Cable Type
Global Fiber Optics Cable Market: By Material
Global Fiber Optics Cable Market: By Applications
- Power Transmission
Global Fiber Optics Cable Market: By Geography
- North America
- Asia Pacific
- Latin America
- Middle East & Africa