Astute Analytica recently published a new research report on the Global Ribbon Fiber Optic Cable Market. The global market report includes extensive research on the Global Ribbon Fiber Optic Cable Market, allowing the buyer to consider potential requirements and projections. After a thorough examination of the prowess of the global market, the restraints and drivers are put together.
The global Ribbon Fiber Optic Cable market was valued at USD 2,834.6 Million in 2021 and is forecasted to reach USD 7,623.2 Million by the year 2030. The market is anticipated to register a CAGR of 11.6% over the projected period.
The study incorporates both qualitative and quantitative data and draws on both primary and secondary statistical sources. Significant companies, important market categories, and a range of products are included in the global market report. In addition, the report covers the measurement years and the study points.
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However, complications regarding the error solving process are estimated to negatively impact the market growth during the forecast period. Furthermore, fragility of ribbon fiber optic as compared to other types of cables are likely to hinder the market growth.
Growth Influencers:
The rapid rise in urbanization & industrialization and consumer spending
The demand for strong IT infrastructure and good internet connectivity has grown tremendously owing to the raid rise of industrialization as well as urbanization. Furthermore, the consumer spending has also increased, which is leading to adoption of high quality of connectivity solutions. According to a data published by the Trading Economics, the consumer spending in the United States increased from USD 13,282.69 billion in the quarter 1 of 2021 to USD 13,665.61 billion in the quarter 2 of 2021. Hence, the rapid rise in urbanization and industrialization coupled with consumer spending is expected to fuel the market growth.
Increasing need for greater bandwidth and better speed among industries
Increasing demand for better memories that also offer high bandwidth, high scalability, and low consumption is leading to the development of a range of 3D-stacked memories. Emergence of big data, internet of things, and other such data-intensive applications is also boosting the demand for technologies which can efficiently process and store information. These technologies find applications in many industries, which are anticipated to boost the market growth.
Segments Overview:
The global Ribbon Fiber Optic Cable market is segmented the type, termination, and application.
By Type
- Single Mode
- Multi-Mode
The multi-mode segment is expected to account for an opportunity of approximately USD 3,000 million during 2022 to 2030 owing to their high adoption as they provide better scalability in terms of space management. The single mode segment is also anticipated to witness significant growth rates owing to various technological advancements in this segment.
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By Termination
- With MT Connector
- Without MT Connector
The With MT Connector segment is anticipated to grow at the fastest growth rate of around 12.7% during the projected period owing to the presence of various market players in the segment.
By Application
- FTTx
- Long-Distance Communication
- Local Mobile Metro Network
- Other Local Access Network
- Avionics networks
- Digital video systems
- Flight management systems
- Weather radar systems
- CATV
- Ethernet Backbone
- Others
The FTTx segment is estimated to hold the largest market share of about 25%. FTTx or Fiber to the x are less susceptible to glitches as compared to their counterparts, which leads to their high demand and largest market share. The Local Mobile Metro Network segment is expected to surpass a market value of USD 1,000 million by 2029 owing to the rising initiatives by market players for enhancing the quality for local internet networks. The CATV segment is expected to account for a market opportunity of USD 500 million during 2022 to 2030.
Regional Overview
Based on region, the global Ribbon Fiber Optic Cable market is divided into Europe, North America, Asia Pacific, Middle East & Africa, and South America.
The Asia Pacific region is expected to witness the fastest growth rate of around 13.5% during the projected period owing to the presence of many end users in the region. Also, the consumer spending in the Asia Pacific countries is increasing, which is also leading to the market growth. For instance, according to Macrotrends LLC, the consumer spending in India was USD 1,604.92 Billion in 2018 and USD 1,736.18 Billion in 2019. In 2020, it decreased to USD 1,548.87 Billion. However, it was expected to recover in the second half of financial year 2021.
North America region was expected to surpass a market value of USD 1,000 million by 2025 owing to the growing adoption of technologically advanced products and presence of countries such as U.S. and Canada which are investing to develop their overall infrastructure.
Competitive Landscape
Key players operating in the global Ribbon Fiber Optic Cable market include Corning Inc., CommScope, Inc., Fujikura Ltd., Prysmian SpA, OFS Fitel, LLC, Sterlite Tech, Nexans, The Siemon Company, Sumitomo Electric Lightwave Corporation (Sumitomo Electric Industries Ltd., and Yangtze Optic Fibre & Cable Joint Stock Limited Company (YOFC), among others. Yangtze Optical Fibre and Cable Joint Stock Limited Company (YOFC) supports research including National Key Laboratory / R&D Center, Optical Fibre and Cable Laboratory, Equipment R&D Department, Special Product R&D Department, Intelligent Manufacturing Research Institute and Postdoctoral Workstation.
The approximate market share of the major 6 players is near about 65%. These market players are involved in mergers & acquisitions, collaborations, and new product launches to strengthen their market presence. For instance, in February 2022, Vodafone Germany collaborated with CommScope for deploying its Touchstone TG6442 DOCSIS 3.1 cable gateways for delivering the WiFi 6 performance for its subscribers. Also, in January 2022, OFS launched the TrueLase Yb 20/400-3kW Optical Fiber, which is designed for up to 3kW output.
The global Ribbon Fiber Optic Cable market report provides insights on the below pointers:
- Market Penetration: Provides comprehensive information on the market offered by the prominent players
- Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
- Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
- Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global Ribbon Fiber Optic Cable market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
- Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The global Ribbon Fiber Optic Cable market report answers questions such as:
- What is the market size and forecast of the Global Ribbon Fiber Optic Cable Market?
- What are the inhibiting factors and impact of COVID-19 on the Global Ribbon Fiber Optic Cable Market during the assessment period?
- Which are the products/segments/applications/areas to invest in over the assessment period in the Global Ribbon Fiber Optic Cable Market?
- What is the competitive strategic window for opportunities in the Global Ribbon Fiber Optic Cable Market?
- What are the technology trends and regulatory frameworks in the Global Ribbon Fiber Optic Cable Market?
- What is the market share of the leading players in the Global Ribbon Fiber Optic Cable Market?
- What modes and strategic moves are considered favorable for entering the Global Ribbon Fiber Optic Cable Market?
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