Source: Cable Network

Absolute Markets Insights, a communications market research organization, recently released a report that the global fiber-optic cable market will reach $13.87 billion by 2021, with a compound annual growth rate of about 5.8%.

The report believes that increased demand for long-distance data transmission and increased network activity are driving the market to expand. Another driver is the penetration of mobile phones and other handheld devices such as tablets and laptops in the consumer market. At the same time, the growing demand for high-speed Internet connectivity continues to drive the cable market.

In 2017, the global fiber optic cable market was approximately $11.07 billion, with Asia Pacific being the largest regional market, reaching $6.28 billion, followed by North America and Europe.

From the application field, it is expected that by 2021, the telecommunications and broadband sectors will dominate. Fiber optic cables support high-speed data transmission services in small and long-distance communications. These cables have tremendous growth potential in a wide range of applications in the healthcare, aerospace and defense, railway and oil and gas sectors. In addition, growing audio and video services, cloud computing technology and video on demand (VoD) services have further increased the demand for fiber optic cables.

From a regional perspective, North America's growth rate is at the forefront. In North America, fiber optic lighting is used in a variety of medical, commercial, and modern applications. The defense department is also using fiber because US manufacturers are developing ground tactical fiber optic cable and connectivity solutions for the US military.

It should be pointed out that the high cost and complicated installation process have become the main threat to market growth. Although the installation cost of fiber optic cables has dropped by 60%, the cost of use is still higher than that of conventional copper cables.

From the perspective of market participants, Prysmian Group (acquired General Cable), Corning, Sumitomo Electric, Belden, Fujikura, OFS, Changfei Fiber, Fortis Group, etc. will become the world's leading fiber optic cable manufacturing Business.