|Market Size in 2021||Market Forecast in 2028||CAGR (in %)||Base Year|
|USD 872.5 Million||USD 1,216.7 million||5.7%||2021|
Multimode Fiber Cable Market
The global multimode fiber cable market size was worth around USD 872.5 million in 2021 and is estimated to grow to about USD 1,216.7 million by 2028, with a compound annual growth rate (CAGR) of approximately 5.7% over the forecast period. The report analyzes the multimode fiber cable market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the multimode fiber cable market.
Sales of multimode fiber optic cables and associated services are what make up the multimode fiber optic cable industry. These cables are utilized in a variety of sectors, including electricity, communication, broadcasting, and the military & aerospace. An optical fiber cable called a multimode fiber cable is made to transmit several light beams at once, each with a slightly varied angle of reflection. Given that the modes spread over longer lengths, multimode fiber cable is suitable for usage over short distances. The market expansion for multi-mode fiber cable will be accelerated by the rising demand for more capacity and faster speeds. Business and consumer demand for high bandwidth are increasing as more people use the internet for video chats, gaming, online shopping, and social networking. Fiber optic cable uses light, not electricity, to convey data, allowing for faster internet connections that can handle greater capacity. The emphasis on additional bandwidth leads to an increase in video consumption. As a consequence of the rising need for higher speed connections and greater capacity, the market for multi-mode fiber cable is growing. Speed and range limitations in the multimode fiber cable industry are serious problems.
In the first part of 2020, the COVID-19 pandemic significantly affected the global supply chain for raw materials and components. The pandemic also forced the closure of fiber optics production facilities, which to some part slowed the global multimode fiber cable market's expansion. However, some market participants were able to run their production plants during COVID-19 with a restricted capacity. COVID-19 has caused a rise in interest in work-from-home jobs and online learning programs. This sharp rise has accelerated the rollout of 5G and internet communication infrastructure around the globe. To address the growing demand for high bandwidth and dependability, telecom operators throughout the world will begin making significant investments in the construction of 5G communication infrastructure in 2022.
The number of internet users has been increasing exponentially over the world. Social networking services, online entertainment, Voice over IP (VoIP), and mobile payments have all grown widespread thanks to the rise in internet usage. As a result of the widespread use of tablets, laptops, smartphones, and other wireless devices, traffic related to data services, video streaming, online gaming, and the internet has significantly increased. To get to its destination, wireless traffic uses a fiber optic wireline network. As a result, landline networks like front haul and backhaul are largely responsible for the rise of mobile communications. An enormous amount of data is created and replicated globally as a result of rising multimedia usage. The expansion of the global multimode fiber cable market will be fueled by the increased deployment of new fiber optic cables and subsystems due to the increasing quantity of data being created.
One of the main inhibitors for multimode fiber optics producers is the rising usage of wireless communication solutions in place of cable ones. In wireless communications systems, a microwave radio spectrum is used to send data from one place to another. The receiving devices, antenna systems, and dishes receive the data from one central point. Radiofrequency (RF) and fiber space optics (FSO) are the two main technologies for wireless communication. Both RF and FSO technologies offer non-interference with one another and cost less to install. In comparison to fiber optics technology, these solutions boost communication application efficiency. Further limiting the global multimode fiber cable market development is the fact that wireless communication solutions are becoming more popular than multimode fiber optics, particularly in applications needing a greater data transmission rate.
The widespread use of 5G in established and developing countries would present advantageous market possibilities for vendors of multimode fiber optics. The deployment of optical fibers is crucial to the development of 5G infrastructure. These optical multimode fibers are capable of transmitting a significant quantity of data quickly between two locations. Telecom service providers are putting a lot of emphasis on building newer 5G base stations as 5G services continue to be commercialized to obtain a competitive edge in the market.
There are major difficulties in establishing the conduits along trenchless installations, even though multimode fiber optic cables are normally put within conduits beside the pipeline. Technical and administrative issues might be the cause of challenges in multimode fiber utilization. With subsea fiber optic cable networks, several telecom corporations have telecommunications infrastructure around the world. The majority of underground fiber optic cables are found on city streets and highways. However, in a region where any development or business site comes without authority, constructing a fiber network and adhering to it becomes challenging. These elements significantly hinder the market expansion for multimode fiber cables.
By product type, the market is divided into multimode, single mode, and plastic optical fiber. The multi-mode market category is anticipated to rule the whole world. Multi-mode is still the preferred fiber of choice for many applications, even though single-mode is simple to update and helps in "future proof" setups. Since the core diameters of multi-mode fiber optic cables are larger, several light paths and a range of light wavelengths may be communicated. They need less money to install, run, and maintain. At a cheaper cost than single-mode fiber, multimode optical fiber can readily accommodate the majority of lengths required for corporate and data center networks. Additionally, multi-mode fiber optic connections provide tremendous bandwidth and speed over brief distances. Thus, because of these benefits, multi-mode fiber optic cable demand is anticipated to increase in the upcoming years.
Based on application, the market is divided into military & aerospace, oil & gas, BFSI, railway, telecom, medical, and others. In 2021, the BFSI sector dominated the market.
By material type, the global multimode fiber cable market is divided into glass and plastic. The plastic category is anticipated to expand at significant rate over the projected period. Since the base material used to produce plastic optic fiber is different from the base material used to produce multimode and single-mode optic fiber, the market for these fibers is predicted to develop significantly over the projected period. The primary components utilized in the production of POF cables set it apart from its single- and multimode-mode cousins. While the core of single- and multimode fiber optics are made of glass, the core of POF cables is made of a polymer. This allows for cost reductions while providing a complicated structure. This is anticipated to accelerate the market expansion for multimode fiber-type optics.
|Report Attributes||Report Details|
|Report Name||Multimode Fiber Cable Market Size Report|
|Market Size in 2021||USD 872.5 Million|
|Market Forecast in 2028||USD 1,216.7 million|
|Growth Rate||CAGR of 5.7%|
|Number of Pages||188|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Key Companies Covered||Optical Cable Corporation (OCC), Finolex Cables Limited, Corning Incorporated, OFS Fitel, LLC, Sterlite Technologies Limited, AFL, Prysmian Group, Birla, Furukawa Fiber Optics Limited, Yangtze Optical Fiber and Cable Co., Ltd. (YOFC).|
|Segments Covered||By Type, By Application, and By Region|
|Historical Year||2012 to 2017|
|Forecast Year||2021 - 2028|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
During the projected period, Asia Pacific is anticipated to account for the highest share of the global multimode fiber cable market. The significant market share is attributed to the region's growing number of regional government efforts to boost multimode fiber optic expansion. The expansion of the market in the area will be supported by the widespread deployment of 5G base stations throughout China, South Korea, and Japan. Due to the area's expanding industrialization and infrastructure development, there is a significant growth potential for the deployment of fiber optic cables across a range of applications. The expansion of multimode fiber-optic cable networks has boosted the speed and size of the data networks used by cable providers and cellular carriers, allowing for the quicker transport of more data. This discovery should fuel additional industry revenue growth.
Some of the main competitors dominating the global multimode fiber cable market include -
By Product Type
By Material Type
Increased demand for greater capacity and quicker speeds will accelerate the market expansion for multi-mode fiber cable. Due to a growth in the usage of the internet for video calls, gaming, online shopping, and social networking, both businesses and consumers are experiencing a surge in demand for high bandwidth.
According to the report, the global multimode fiber cable market was worth about 872.5 (USD million) in 2021 and is predicted to grow to around 1,216.7 (USD million) by 2028, along a compound annual growth rate (CAGR) of approximately 5.7%.
During the projected period, Asia Pacific is anticipated to account for the highest share of the fiber optics market. The significant market share is attributed to the region's growing number of regional government efforts to boost multimode fiber optic expansion.
Some of the main competitors dominating the global multimode fiber cable market include - Optical Cable Corporation (OCC), Finolex Cables Limited, Corning Incorporated, OFS Fitel, LLC, Sterlite Technologies Limited, AFL, Prysmian Group, Birla Furukawa Fiber Optics Limited, and Yangtze Optical Fiber and Cable Co., Ltd. (YOFC).