Growing digitization across the globe coupled with increasing government initiatives for the same is accelerating rapid penetration of internet connectivity across the globe. This has enhanced the volume of data to be transmitted between individuals and enterprises with their devices. Fiber optic cables transmits this information using light-based technologies with a higher bandwidth. According to the data published by World Bank, a substantially large percentage of individuals were using internet in the year 2017-2018, across major countries including United States (87%), Canada (91%), United Kingdom (95%), Germany (90%), Japan (91%), Kuwait (100%), UAE (98%), New Zealand (91%) and South Korea (96%). The changing lifestyle and digitization across all industries have contributed to this high adoption of internet across the countries, thereby propelling the growth of fiber optic cable market. Along with mobile internet connectivity, home broadband connections have also witnessed a rise in demand over the years. According to studies, the penetration of home broadband connections across United States accounted for 73% in 2019, as compared to 66% in 2015. The outbreak of the coronavirus is expected to further increase the demand for home broadband owing to the shift in the working culture and education system to inhibit the spread of the virus. Fiber optic cables, which enable transmitting data with high speed, are experiencing high demand and attracting increased investment in the overall fiber optic cable market. For instance, Crown Castle International Corp., a Houston based company engaged in manufacturing cell towers and fiber optic cables, experienced an increase in sales by 11% in 2020. Additionally, the company has announced a planned investment of US$ 2 Bn annually in the coming years to provide for the rising demand of internet with high speed across individuals and enterprises.
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In terms of region, Asia Pacific is expected to grow with the highest CAGR over the forecast period. Rising government initiatives for adoption of digitization across developing countries including India is expected to influence the growth of the Asia Pacific fiber optic cable market over the forecast period. The key drivers for the rising demand of fiber optic cables is identified as rising investments in optic fiber communication (OFC) network infrastructure by the Indian Government to increase internet penetration across the country, which is in line with their Smart Cities and Digital India initiatives. According to studies, the government along with broadband connectivity providers are expected to invest INR 7 Trillion in the next four years to ensure internet availability across the villages of India. In order to achieve the target, the government has announced its plan to deploy additional optic fiber cables for 3 million km and increase fiberization of towers from 30% to 70%. Additionally, the government is also replacing the old optic fiber cables with new ones to increase its efficiency. For instance, in 2020, approximately 19,952 out of 27,534 km of optic fiber cable of BSNL was replaced by new optic fiber cable. These constantly rising initiative by the Indian government to offer proper and efficient internet connection across all sates is contributing and also expected to influence the region’s growth in the global in the fiber optic cable market over the forecast period.
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The detailed research study provides qualitative and quantitative analysis of global fiber optic cable market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
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Global Fiber Optic Cable Market:
- By Type
- Single Mode
- Multimode
- Plastic Optic Fiber
- By Application
- Cable Television
- Military/Aerospace
- Oil and Gas
- Private Data Network
- Telecom and Broadband
- Utilities
- Healthcare Telemedicine
- Transportation
- Others
- By Region
- North America
- U.S
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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