According to the study undertaken by Astute Analytica, the Global Ribbon Fiber Optic Cable Market is projected to witness a rise in its revenue from US$ 2,834.6 Mn in 2021 to US$ 7,623.2 Mn by 2030. The market is registering a CAGR of 11.6% over the forecast period 2022-2030. Local area networks (LAN) and data center networks are migrating to higher cabled fiber counts to meet increasing system bandwidth needs. Ribbon optical cables are now being deployed to meet these needs, as they provide the highest fiber density relative to cable size, maximize utilization of pathway and spaces and facilitate ease of termination. Ribbon fiber optic cable is a convenient solution for space and weight problems.
The growing impetus of the market is attributed to factors such as rising need for better speed and greater bandwidth among industries and rapid rise in urbanization, industrialization, and consumer spending. As trends like virtualization and convergence bring increased traffic to 40G/100G data centers, cable with high fiber counts is needed to support growing bandwidth. Relative to cable size, flexible ribbon cable provides the highest connectivity density to make every square foot count. Its small OD and superb flexibility make it easier and faster to handle, creating installation possibilities in narrow pathways and small conduit. Ribbon fiber optic cable has recently emerged as a primary cable choice for deployment in campus, building, and data-center backbone applications where fiber counts of more than 24 are required. This design offers robust performance equivalent to the stranded loose-tube cable and provides the maximum fiber density relative to cable diameter when compared to stranded loose-tube and tight-buffered cable designs.
Moreover, different local, state and country level governments are taking initiatives to improve accessibility of internet to its individuals, such as Digital India initiative by the Indian government, which is also propelling the market growth. Also, many tech companies are opening their data centers across the globe, which is in turn triggering market growth. For instance, IBM opened three data centers in the UK and Tencent Cloud, China-based cloud corporation launched its first data center in Jakarta, Indonesia. Moreover, the growing integration of advanced and innovative technology in the data center by the key players coupled with rising partnerships between market players will further propel market growth over the projection period. Therefore, as we see the demands of bandwidth double the need of fiber, ribbon cable becomes the simplest, easiest, and fastest way to plan for future network needs. However, the complications associated with error solving process disrupt the growth of global ribbon fiber optic cable market over the forecast period.
Segmentation Analysis
Multi-mode segment dominates the ribbon fiber optic cable market
Based on type, the global ribbon fiber optic cable market is segmented based on single mode and multi-mode. The multi-mode segment holds the highest market share in 2021 and is further estimated to continue its dominance over the forecast period. The growth of this segment is attributed to rising demand from data centers, telecommunication solutions and indoor solutions. The single mode segment has the highest annual growth rate over the forecast period.
With MT connector segment holds the highest CAGR in the ribbon fiber optic cable market
In terms of termination, the market is divided into – with MT connector and without MT connector. Among these, without MT connector segment holds the highest share in the Global Ribbon Fiber Optic Cable Market in 2021, whereas, with MT connector segment registers the highest CAGR over the projection period. The MTP connector is a 12-fiber push/pull fiber optic connector with a footprint similar to the SC simplex connector. These high-density connectors are used to significantly accelerate the network cabling process, minimize errors, and reduce congestion in patch panels.
FTTx is the leading application segment in the ribbon fiber optic cable market in 2021
Based on application, the market is categorized into 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 and others. Out of these, the FTTx is estimated to have the highest market share in 2021. Growth of this segment is attributed to technological advancements taking place in data centers and rising initiatives by various governments to increase internet accessibility.
Asia Pacific leads the Global Ribbon Fiber Optic Cable Market in 2021
Asia Pacific dominates the Global Ribbon Fiber Optic Cable Market in 2021 and is estimated to continue its dominance over the projection period. The region is further projected to have the highest CAGR over the forecast period. The rising need for better speed and greater bandwidth among industries coupled with growing number of data centers in emerging economies such as China, India, and Indonesia among others is accelerating the market growth.
About Astute Analytica
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