(MENAFN- America News Hour) In a recent published report, Kenneth Research has updated the market report for Fiber Optic Cable Assemblies Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Fiber Optic Cable Assemblies Market products.
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According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Fiber optic cable refers to the high speed data transmission medium in which data are transferred using digital data transmission. Further, the digital data which is transferred is received at the end of fiber optic cable which is in form of light pulse i.e. converted into binary values. Furthermore, fiber optic cable are commonly used over the telephone cables, internet and cable connections.
Market Size and Forecast
The global fiber optic cable assemblies market is expected to expand at a significant CAGR of 9.2% over the forecast period. Rising demand of higher band and faster speed connections is anticipated to drive the growth of fiber optic cable assemblies market. Further, the increase in the fiber optical technology in the developing region is expected to expand the global fiber optic cable assemblies market.
In the regional market, Asia Pacific is projected to dominate the overall fiber optic cable assemblies market over the forecast period. Increasing adoption of advancement in technologies in the region is expected to positively impact the growth of global fiber optic cable assemblies market. Further, increasing investments in the telecommunication and IT companies is expected to bode well for the growth of fiber optic cable assemblies market over the forecast period.
North America fiber optic cable assemblies market is rising due to the use of fiber optical cables in different metrology and power transmission. Moreover, factor such as electronic automation is anticipated to drive the growth of global fiber optic cable assemblies market over the forecast period. The fiber optic cable assemblies market in Europe region is expected to benefit from positive economic outlook in the region of fiber optic cable assemblies. Moreover, increased data transmission and defense sector are anticipated to strengthen the growth of the fiber optic cable assemblies market. Middle East and Africa fiber optic cable assemblies market is anticipated to showcase significant growth during the forecast period.
Based on fiber type, fiber optic cable assemblies market is segmented into single mode fiber, multimode fiber and plastic optical fiber. Further, single mode fiber and multimode fiber is accounted for the largest market share over the global fiber optic cable assemblies market over the forecast period.
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Our in-depth analysis of the global fiber optic cable assemblies market includes the following segments:
By Fiber Type
Single Mode Fiber
Plastic Optical Fiber
By Product Type
Long Length Assemblies
High Complex Breakout Assemblies
By End User
IT & Telecommunication
Defense & Government
By Cable Length
Global fiber optic cable assemblies market is further classified on the basis of region as follows:
North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
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Growth Drivers and Challenges
Increasing internet access and devices connected to internet across the globe is anticipated to intensify the growth of the global fiber optic cable assemblies market. In addition, increasing cloud computing and data transfer is anticipated to positively drive the growth of the global fiber optic cable assemblies market during the forecast period.
Apart from this, rising government investment over telecommunication is anticipated to be the dynamic factor behind the growth of the fiber optic cable assemblies market. Factor such as, increasing demand for over the top video content is anticipated to supplement the growth of the global fiber optic cable assemblies market over the forecast period.
Further, increasing awareness of data security during transmission is likely to further strengthen the growth of the global fiber optic cable assemblies market. In addition, factor such as higher band and transmission over longer distance is predicted to contribute significantly towards the growth of global fiber optic cable assemblies market over the forecast period.
However, cost effectiveness and fragility are some of the key factors which are expected to limit the growth of global fiber optic cable assemblies market in upcoming years.
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