According to a report recently released by Report Ocean, a marine economic research institution, the global fiber optical cable market compound annual growth rate will reach 11.18% from 2019 to 2025.
Fiber optic cable is high-speed data transmission cable that transmits data through light waves, enabling them to transmit information at the speed of light. Fiber optic cable uses fiber optic technology and glass or plastic wires (optical fibers) to transmit data. Fiber optic cable has a much higher bandwidth than metal cables, which allows it to carry more data and provide faster data transmission rates. Compared with metal cables, fiber optic cables are less susceptible to noise and interference, and are thinner and lighter. Optical fiber cable provided by fiber optic cable manufacturers can realize digital data transmission and can be used as the backbone of the Internet and long-distance telecommunications.
According to the cable type, the market is divided into single-mode and multi-mode cables. The single-mode cable segment dominates the fiber optic cable market and is expected to generate the highest revenue. However, because multimode optical fiber is used for short-distance data transmission or audio applications in LAN, and backbone applications and networks in buildings, it is expected that multimode optical fiber will grow at a steady rate during the forecast period.
In terms of application, the market is subdivided into long-distance communications, submarine cables, FTTX, local mobile metropolitan area network CATV and local access networks. Among them, long-distance communication is expected to become the application type with the highest revenue during the forecast period. The data rates required for different applications have increased the adoption of fiber optic cable in various industries, and IT and telecommunications are expected to occupy the highest share of the fiber optic market.
In terms of market area, the Asia-Pacific market is expected to be the region with the highest income and the fastest growing market during the forecast period, with a compound annual growth rate of 13.03% expected. The region is experiencing increasing adoption of smart phones and popularity of high-speed online games, which has triggered a demand for fiber optic cable installation.
At the same time, countries such as China, Japan and India are investing heavily in fiber optic cable technology to improve their military and aerospace capabilities. In addition, the government has invested heavily in the research and development of fiber optic security solutions, which is another factor driving the growth of the fiber optic cable market in the region.