The study published by Astute Analytica forecasts a growth in revenue of the Global Ribbon Fiber Optic Cable Market 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. The market is majorly driven by factors such as rising need for better speed and greater bandwidth among industries and rapid rise in urbanization, industrialization, and consumer spending.
Market Snapshot
Ribbon fiber optic cable is a typical fiber optic cable. Unlike beam optical cable, ribbon fiber optic cable is arranged into a strip. Ribbon fiber optic cable is a convenient solution for space and weight problems. The cable ribbons are coated optical fibers placed side by side, encapsulated in Mylar tape, similar to a miniature version of wire ribbons used in computer wiring. This type of cable takes up much less space than individually buffered optical fibers because the ribbon contains only coated optical fibers. As a result, ribbon cables are denser than any other cable design. They are ideal for applications where limited space is available. Ribbon cables also enable mass-fusion splicing, whereby each 12-fiber ribbon can be spliced in a single, straightforward procedure. This facilitates fast network installation and restoration after cable cuts.
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.
Market Dynamics
Drivers:
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. Furthermore, the rising work-from-home culture due to the pandemic has increased the need for better speed and greater bandwidth which results in driving the growth of ribbon fiber optic cables market. 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.
Opportunities:
Surging government investments in infrastructural development in emerging regions and growing number of smart data centers are providing a lucrative opportunity for market growth. 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 the 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.
Restraints:
Factors such as complications associated with error solving process and lack of trained staff are hampering the growth of global ribbon fiber optic cable market.
Regional Analysis of the Global Ribbon Fiber Optic Cable Market:
Competitive Dashboard
The key players in the Global Ribbon Fiber Optic Cable Market are Corning, CommScope, Fujikura Ltd, Prysmian, Nexans and Yangtze Optic Fiber and Cable Joint Stock Limited Company (YOFC) among others.
Strategies Adopted by Key Market Players:
Segmentation Overview
The following are the different segments of the Global Ribbon Fiber Optic Cable Market:
By Type segment of the Global Ribbon Fiber Optic Cable Market is sub-segmented into:
By Termination segment of the Global Ribbon Fiber Optic Cable Market is sub-segmented into:
By Application segment of the Global Ribbon Fiber Optic Cable Market is sub-segmented into:
By Region segment of the Global Ribbon Fiber Optic Cable Market is sub-segmented into:
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