The most recent study conducted by Report Ocean, titled “Global Ribbon Fiber Optic Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Ribbon Fiber Optic . The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
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.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
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.
Growth Influencers
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
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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.
Segments Overview
The global ribbon fiber optic market is segmented into type, and application
By Type
• Single Mode
• Multi-Mode
On the basis of type, single mode dominated the market with the largest share in 2020, and is expected to continue this dominance during the forecast period. Whereas, multi-mode segment is projected to grow at a highest rate of 13.5% during the forecast period.
By Application
• FTTx
• Long Distance Communication
• Local Mobile Metro Network
• Other Local Access Network
• CATV
• Others
Based on application, the Long-Distance Communication segment is estimated to grow at a highest CAGR of 12.4%, during the forecast period. Whereas, FTTx segment is dominating the application segment with the largest market share of 25%, in the year 2020.
Regional Overview
On the regional basis, the global ribbon fiber optic market is segmented into North America, Europe, Asia Pacific, Middle East, Africa, and South America.
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Asia pacific is dominating the global ribbon fiber optic market in 2020. Continuous growth in digital ecosystem is one of the most important factors attributed to the dominance of Asia pacific. Companies are investing huge amount of funds into networking infrastructure in this region. Google has also invested over USD 2 billion since 2010, towards the development of networking infrastructure in Asia Pacific region.
Competitive Landscape
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 offers insights on the below pointers:
• Market Penetration: The research report provides comprehensive data on the market offered by the prominent players
• Market Development: The report offers detailed analysis about emerging markets and examines penetration across mature segments of the markets
• Market Diversification: The research report offers comprehensive information about untapped geographies, recent developments, and investments
• Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches, collaborations in the market have been provided in this research report. In addition, the report also includes a SWOT analysis of the leading market players.
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?
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