Fibre Optics Market by Fibre Type (Glass, Plastic), Cable Type (Single-mode, Multi-mode), Deployment (Underground, Underwater, Aerial), Application, and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
The global Fibre Optic Cables Market size is projected to reach a CAGR of 13.50% from 2023-2030.
Fibre optics is one of the methods of transmitting information that works by sending pulses of light through an optical fibre. The light transmitted then forms an electromagnetic carrier wave modulated to carry information. Fibre optics cable is used mainly for the digital transmission of data and is increasingly being used owing to its efficiency and high transmission capacity. Fibre optics cables are used usually when high bandwidth, long distance, or immunity from external or internal interferences are required.
The use of fibre optic cable across a large number of end-use industries will propel the growth of the global market. Advantages of fibre optic cable such as longer reach and high bandwidth connectivity are projected to have a profound impact on the growth structure of the market. Furthermore, the high preference for the telecommunication sector and data centres is anticipated to accelerate the growth prospects of the fibre optic cable market. Fibre optic cables are flexible devices that are designed for long-distance and high-performance telecommunication. The need for improved connectivity in both residential and commercial segments will present a wide range of growth opportunities for the fibre optic cable market.
On the other hand, easy access to the internet in remote areas using wireless devices, and the high initial cost restrain the growth of the market.
The COVID-19 pandemic has led to an increase in work-from-home (WFH) due to the stay-at-home orders enforced by numerous countries. This aspect has boosted the installation of home broadband connections. Furthermore, due to the evolving nature of the novel coronavirus and with more companies preferring remote work for longer periods, the demand for home broadband connections is increasing. Hence, the need for an FTTH communication network is leading to the exponential growth of the fibre optic cable market.
The market for fibre optic cables is a developing sector with substantial development potential, driven by the rising demand for high-speed data transport and the expanding use of fibre optic cables in a variety of applications. Although North America and Europe are also key markets, the Asia-Pacific region is anticipated to dominate the industry. To address the rising demand, major market players are concentrating on boosting their product lines and creating novel solutions. In the upcoming years, the market is anticipated to develop steadily, opening up new business prospects and spurring technological breakthroughs in the area of communication infrastructure.
Asia Pacific to Dominate the Market