New York, May 28, 2023 (GLOBE NEWSWIRE) — According to the latest research report by Reports Insights, the Global Fiber Optic Cable Assemblies Market achieved a valuation of USD 5,502.22 Million in 2022. With a projected compound annual growth rate (CAGR) of 9.3%, the market is expected to surpass USD 10,986.70 Million by 2030.
Fiber optic cable assemblies includes an optical fiber, fiber optic cable connectors, and reinforcement strand and primarily depend on light pulse transmissions that are carried through the cable for data delivery at a faster rate. Various types of fiber optic cable assemblies such as single-mode and multi-mode are mainly employed for data transmission applications, owing to its electromagnetic interference resistance, high efficiency, larger transmission coverage, and high level of interception protection features. The market for fiber optic cable assemblies is highly competitive, with a large number of players offering a wide variety of products. The market is expected to continue to grow in the coming years, driven by the increasing demand for advanced fiber optic cable assemblies systems in a variety of industries, including IT & telecommunication, aerospace & defense, and healthcare among others.
The increasing utilization of fiber optic cable assemblies in the telecommunication sector is one of the key factors driving the market growth. Fiber optic cable assemblies play a crucial role in the telecommunication industry for supporting the telecommunication infrastructure involving base stations and communication equipment. The robust and high-speed data transmission capabilities of fiber optic cable assemblies are among the prime factors driving its utilization in the telecommunication sector. According to Yicai Global, China deployed approximately 600,000 5G base stations across the country in 2022, with the aim of expanding its 5G services across the country. The rising trend for expansion of upgraded networks including 5G is fostering the deployment of 5G base stations, in turn driving the market demand for fiber optic cable assemblies.
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Further, the rising application of fiber optic cable assemblies in aerospace & defense sector is a significant factor spurring the growth of the fiber optic cable assemblies market. Fiber optic cable assemblies are mainly used in aviation and defense sector to offer seamless network connectivity and high-speed data transmission in applications including radar systems, military vehicles, antenna systems, and tactical military communications among others. In addition, factors including the rising aircraft production and increasing investments in air and defense systems are among the key factors driving the application of fiber optic cable assemblies in aerospace & defense sector.
Global Fiber Optic Cable Assemblies Market Segmentation Details:
Based on Mode Type, the multi-mode segment contributed a substantial share to the market growth in 2022. Multi-mode fiber optic cables often consist of a larger core diameter which stimulates the propagation of several light modes as opposed to single-mode cables. Moreover, the cost-effectiveness and ability of multi-mode fiber optic cables to offer high data transfer speed and bandwidth over short distances are among the prime factors fostering the growth of the multi-mode segment.
Based on End User, the IT & telecommunication segment is anticipated to offer substantial shares to the Global Fiber Optic Cable Assemblies Market growth during the forecast period. Fiber optic cable assemblies play a significant role in the telecommunication industry for supporting the telecom infrastructure involving base stations and communication equipment. The robust and high-speed data transmission capabilities of fiber optic cable assemblies are major determinants for driving its utilization in the IT & telecommunication industry. Moreover, the rising investments in 5G infrastructure and increasing adoption of fiber optic cable assemblies in 5G network architecture to ensure reliable and high speed data transmission is expected to fuel the market growth during the forecast period.
Based on region, North America accounted for the largest share contribution to the market growth in 2022. The prevalence of significant fiber optic cable assembly providers in North America such as Corning Incorporated, CommScope Inc., Belden Inc., and others lead to significant advancements in fiber optic cable assembly solutions in the region. In addition, factors such as an increase in aircraft production and growing investment in the aviation and defense sector in North America is expected to drive the market growth in the region during the forecast period.
Fiber Optic Cable Assemblies Market Research Coverage :-
|Report Attributes||Report Details|
|Market Size By 2030||
|Key Players||Corning Incorporated, CommScope Inc., AFL, Prysmian Group, OFS Fitel, Belden Inc., Amphenol Fiber Systems International, Sumitomo Electric Industries Ltd., Fujikura Ltd., and Nexans SA|
|By Mode Type||
|By End User||
|Report Coverage||Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more.|
|By Geography||North America, Asia-Pacific, Latin America, Europe, Middle East & Africa|
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Key Market Highlights
- The market is geographically divided into five regions: Europe, South America, the Asia-Pacific, North America, and the Middle East and Africa.
- North America and Europe are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in fiber optic cable assemblies.
- Globally, fiber optic cable assemblies are divided based on the mode type into single-mode and multi-mode.
- On the basis of end user, the market is classified into automotive, IT & telecommunication, aerospace & defense, healthcare, and others.
Fiber Optic Cable Assemblies Market Growth Drivers:
- Rising utilization of fiber optic cable assemblies in aerospace & defense sector is driving the market growth
- Growing telecommunication industry is spurring the market growth for fiber optic cable assemblies market
- High investment associated with the installation of fiber optic cable is restricting the market growth
- In March 2023, Sumitomo Electric Industries partnered with U.S. Conec Ltd. for manufacturing TMT ferrule components and MMC connectors for the deployment of high-density, next-generation, multi-fiber cabling solutions.
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List of Major Global Fiber Optic Cable Assemblies Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
- Corning Incorporated
- CommScope Inc.
- Prysmian Group
- OFS Fitel
- Belden Inc.
- Amphenol Fiber Systems International
- Sumitomo Electric Industries Ltd.
- Fujikura Ltd.
- Nexans SA
Global Fiber Optic Cable Assemblies Market Segmentation:
- By Mode Type
- By End User
- IT & Telecommunication
- Aerospace & Defense
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