Dublin, Sept. 06, 2021 (GLOBE NEWSWIRE) — The “Global Ribbon Fiber Optic Market, By Type (Single Mode, Multi-mode), Application (FTTx, Long Distance Communication, Local Mobile Metro Network, Other Local Access Network, CATV, Others), Estimation & Forecast till 2027” report has been added to ResearchAndMarkets.com’s offering.
The global ribbon fiber optic market valued at market size of USD 2,589.5 Million in 2020, and is expected to reach USD 5,384.6 Million by 2027. The global ribbon fiber optic market is anticipated to grow at a CAGR of 11.3% over the forecast period.
Huge growth in the number of data centers, is one of the most important factors driving the demand for network equipment and materials at a huge pace. Additionally, increased data traffic volume has resulted in urgent need for optical fiber networks in data centers to be enhanced for higher capacity usage. Governments of various countries, across the globe are also investing huge amount of funds, towards the development of telecommunication infrastructure to promote digitization. These factors are expected to fuel the market growth to a great extent.
Among other regions, Asia pacific is expected to dominate the market with the largest share in 2020. Asia-Pacific has witnessed a boom in telecommunication industry in the past few years. Continuous growth in data traffic volume, due to growing digitization is the most important factor, attributed to the dominance of Asia pacific region in ribbon fiber optic market.
Global ribbon fiber optic market is a moderately fragmented market, with the presence of international and local players across various regions. The market players are focusing on development of additional features in ribbon fiber optics, in order to provide better bandwidth and data speed to the users. Companies are making efforts to bundle the maximum number of fibres into the smallest possible cable to maximise fibre density and duct space utilisation. These developments by market players, are expected to provide competitive edge to the companies.
Growing numbers of data centers across the globe
Continuous increase in the number of data centers, is one of the most important factors driving the growth of market. Growing trend of cloud storage, internet of things, data analytics, have resulted in this growth. Additionally, governments of various countries are offering tax incentives to market players, in order to promote digitization. These factors are expected to create enormous opportunity in the ribbon fiber optic market. Additionally, introduction of 5G technology has also resulted in high-speed data transfer, which is also expected to fuel the growth for ribbon fiber optic market.
Increased demand for improved internet speed and highest bandwidth
With the introduction of HD technology & OTT services, the demand for fiber optics is growing at a huge pace. As compared to an ordinary technology, HD technology videos require four times more bandwidth and internet speed. Ribbon fiber optic has the capability to accommodate higher bandwidth with faster speed. Due to these technological advancements, the demand for ribbon fiber optic market is expected to grow at a huge pace, in the forthcoming years.
Fragile nature of ribbon fiber optic is expected to constraint the market growth
Fiber optic cables are fragile as compared to copper cables, resulting in more chances of damage. Also, the trouble process required for fiber optic cables are completely different, than process followed for copper cables. The ribbon fiber optic has very limited motion capability. The fiber optic can move in longitudinal axis, also known as preferential bending, any other motions can cause damage resulting in loss of power.
Prominent players functioning in the market include Corning Inc., Fujikura Ltd., OFS Fitel, LLC, Prysmian SpA, Sterlite Tech, Nexans, Sumitomo Electric Lightwave Corporation (Sumitomo Electric Industries Ltd.), The Siemon Company, and Yangtze Optic Fibre and Cable Joint Stock Limited Company (YOFC). The major 6 players in the market accounted for a cumulative market share of nearly 30% in 2020.
Key market players are actively engaged in strategic collaboration, mergers and acquisition, regional expansion, new product development and innovation to increase their presence in the global ribbon fiber optic market.
The global ribbon fiber optic market report answers questions such as:
What is the market size and forecast of the global ribbon fiber optic market?
What are the key factors influencing the global ribbon fiber optic market?
What are the inhibiting factors and impact of COVID-19 on the global ribbon fiber optic market during the assessment period?
Which are the applications to invest in over the assessment period in the global ribbon fiber optic market?
What are the technology trends in the global ribbon fiber optic market?
What strategies are being adopted by the market players, during the assessment years in global ribbon fiber optic market?
Key Topics Covered:
Chapter 1. Research Framework
Chapter 2. Research Methodology
Chapter 3. Executive Summary: Global Ribbon Fiber Optic Cable Market
Chapter 4. Global Ribbon Fiber Optic Cable Market Overview
4.1. Industry Value Chain Analysis
4.2. Sales Channel
4.3. Five Forces Analysis
4.4. Market Dynamics and Trends
4.5. Covid-19 Impact Assessment on Market Growth Trend
4.6. Market Growth and Outlook
4.7. Competition Dashboard
Chapter 5. Ribbon Fiber Optic Cable Market Analysis, By Type
5.1. Key Insights
5.2. Market Size and Forecast, 2017 – 2027 (US$ Mn)
Chapter 6. Fiber Optic Cable Market Analysis, By Application
6.1. Key Insights
6.2. Market Size and Forecast, 2017 – 2027 (US$ Mn)
Chapter 7. Fiber Optic Cable Market Analysis, By Region/Country
7.1. Key Insights
7.2. Market Size and Forecast, 2017 – 2027 (US$ Mn)
Chapter 8. North America Ribbon Fiber Optic Cable Market Analysis
Chapter 9. Europe Ribbon Fiber Optic Cable Market Analysis
Chapter 10. Asia Pacific Ribbon Fiber Optic Cable Market Analysis
Chapter 11. Middle East and Africa Ribbon Fiber Optic Cable Market Analysis
Chapter 12. South America Ribbon Fiber Optic Cable Market Analysis
Chapter 13. Company Profile
13.1. CommScope, Inc.
13.2. Corning Inc.
13.3. Fujikura Ltd.
13.4. OFS Fitel, LLC
13.5. Prysmian SpA
13.6. Sterlite Tech
13.8. Sumitomo Electric Lightwave Corporation (Sumitomo Electric Industries Ltd.)
13.9. The Siemon Company
13.10. Yangtze Optic Fibre and Cable Joint Stock Limited Company (YOFC)
For more information about this report visit https://www.researchandmarkets.com/r/9we2c3
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