The Ribbon Fiber Optic Cable market size is projected to reach US$ 7.06 billion by 2031 from US$ 3.20 billion in 2023. The market is expected to register a CAGR of 10.3% in 2023—2031. Increasing demand for ribbon fiber optic cable demands in growing economies and growth in the number of data center construction is likely to remain key Ribbon Fiber Optic Cable market trends.
The global market for fiber optic cable will expand due to its widespread use in numerous end-use industries. The extended reach and higher bandwidth connections of fiber optic cable are expected to have a significant effect on the market's growth structure. Additionally, the strong inclination in the data centers and telecommunications industry is expected to boost the fiber optic cable market's growth prospects.
Ribbon fiber optic cable is organized as a strip, as opposed to beam optical cable. Ribbon fiber optic cable is a practical answer to issues with weight and space. Like a tiny version of wire ribbons used in computer wiring, the cable ribbons are coated optical fibers arranged side by side and encased in Mylar tape. Because the ribbon only comprises coated optical fibers, this kind of cable requires a lot less space than individually buffered optical fibers. Ribbon cables are, therefore, denser than any other cable configuration. For applications where there is a shortage of space, they are perfect.
Emerging economies often have burgeoning infrastructure needs, including telecommunications networks. Ribbon fiber optic cables provide higher density and easier installation, making them attractive for expanding networks quickly. As emerging economies modernize, there's a higher demand for internet connectivity, both for businesses and individuals. Ribbon fiber optic cables can support higher data transfer rates, facilitating faster and more reliable internet connections.
The growing demand for constant growth in the number of data centers presents an opportunity for the ribbon fiber optic cable market because these cables offer higher density and easier management, making them ideal for the high-density environments of data centers. They can accommodate more fibers in a smaller space, which aligns well with the needs of expanding data centers striving for increased capacity and efficiency.
Key segments that contributed to the derivation of the ribbon fiber optic cable market analysis are type, cable types, and application.
The geographic scope of the ribbon fiber optic cable market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America. North America has dominated the ribbon fiber optic cable market. High technology adoption trends in various industries in the North American region have fuelled the growth of the ribbon fiber optic cable market. Factors such as increased adoption of digital tools and high technological spending by government agencies are expected to drive the North American ribbon fiber optic cable market growth. Moreover, a strong emphasis on research and development in the developed economies of the US and Canada is forcing the North American players to bring technologically advanced solutions into the market. In addition, the US has a large number of ribbon fiber optic cable market players who have been increasingly focusing on developing innovative solutions. All these factors contribute to the region's growth of the ribbon fiber optic cable market.
The regional trends and factors influencing the Ribbon Fiber Optic Cable Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Ribbon Fiber Optic Cable Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 3.20 billion |
| Market Size by 2031 | US$ 7.06 billion |
| Global CAGR (2023 - 2031) | 10.3% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Types
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Ribbon Fiber Optic Cable Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Ribbon Fiber Optic Cable Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The ribbon fiber optic cable market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:
(Source: HFCL, Press Release, 2023)
(Source: Opticonx, Press Release, 2022)
The "Ribbon Fiber Optic Cable Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
The global ribbon fiber optic cable market was estimated to be US$ 3.20 billion in 2023 and is expected to grow at a CAGR of 10.3% during the forecast period 2024 - 2031.
Increasing demand for ribbon fiber optic cable demands in growing economies are the major factors that propel the global ribbon fiber optic cable market growth.
A growing number of data center construction is anticipated to play a significant role in the global ribbon fiber optic cable market in the coming years.
The key players holding majority shares in the global ribbon fiber optic cable market are CommScope, Inc., Corning Incorporated, Fujikura Ltd., OFS Fitel, LLC., Prysmian S.p.A, STL Tech, NEXANS, Sumitomo Electric Lightwave, Inc., Siemon, Yangtze Optical Fibre and Cable Joint Stock Limited Company.
The global ribbon fiber optic cable market is expected to reach US$ 7.06 billion by 2031.