(MENAFN- EIN Presswire)
CHICAGO, UNITED STATES, September 14, 2023/EINPresswire/ -- Global active optical cable market value was US$ 422.1 million in 2022 and is projected to attain a valuation of US$ 1,893.7 million by 2031, registering a CAGR of 18.15% during the projection period from 2023 to 2031.
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Due to the rise in the adoption of cloud-based services and applications and the rising demand for high-speed data transfer in data centers, the global active optical cable market has experienced substantial expansion. AOCs are a suitable choice owing to the market's increased use of 4K and 8K displays in consumer electronics over the last few years, which has increased the need for high-bandwidth data transfer. The growth of the active optical cable sector globally is probably also influenced by the increased usage of 5G networks in developing nations.
High-speed data transmission solutions like AOCs are even more necessary owing to the growth in the demand for cloud computing services and the consequent construction of data centers. The demand for data centers has surged because of the growth of digitalization, cloud computing, and the Inteof Things (IoT), which has increased the demand for AOCs. The worldwide data center traffic is anticipated to exceed 180.3 zettabytes annually by 2025, according to the Ciworldwide Cloud Index. Over 720 hyperscale data centers were operating globally as of 2022, and more are anticipated to open. These massive data centers were built in response to the growing reliance on cloud services, which require AOCs to ensure effective data transfer.
Due to the need for high-definition video transmission and minimal latency for an immersive gaming experience, AOCs have also become crucial components of gaming consoles. The size of the global gaming market has been continuously increasing, and it will increase from US$ 220 billion in 2022 to US$ 583 billion in 2030. The usage of AOCs in the worldwide active optical cable market is anticipated to rise as gaming consoles develop and offer higher-resolution graphics and quicker processing rates.
The Advent of 5G: Offering Untapped Potential for Market Growth
The explosive growth of 5G presents a sizable opportunity for the global active optical cable (AOC) industry. The demand for high-speed data transport technologies like AOCs will rise as 5G networks continue to be deployed. For instance, the number of 5G subscriptions worldwide increased by 125 million in the first quarter of 2023 to reach 1.1 billion. A total of 35 service providers have launched or deployed 5G standalone networks, out of approximately 240 service providers who have deployed 5G networks commercially.
5G subscribers are anticipated to reach 4.6 billion by 2028, accounting for more than 50% of all mobile subscriptions. The market for active optical cable is expected to see a rise in demand due to the anticipated expansion of the 5G network. These figures highlight the market's enormpotential and opportunity as the globe moves toward a more networked and data-centric ecosystem.
Personal Computer Generated Sales of About 13.8% of Active Optical Cable
In terms of application, the personal computer segment dominates the global Active optical cable market. In 2022, the segment accounted for over 13.8% of market revenue and is anticipated to expand at a CAGR of 18.58% throughout the assessment period. This market is expanding due to the rising demand for personal computers with fast connectivity and data transfer.
The demand for high-quality visuals and audio has increased as a result of the rising popularity of online gaming and video streaming services, which has also increased the demand for AOCs in personal computers. The increasing usage of cloud computing and the growing requirement for real-time data access and analysis are also helping the growth of the personal computer sector in the Active optical cable market.
Asia Pacific to Attain Revenue of 35% of the Market
The Asia Pacific (APAC) region dominates the global active optical cable market and is anticipated to keep doing so, accounting for more than 35% of it over the forecast period. Due to significant investments in data centers and the use of cloud computing and IoT technologies in nations like China, India, Japan, and South Korea, the region is predicted to develop at the highest CAGR during the projected period. For instance, a CBRE analysis estimates that Asia Pacific's data center capacity will increase from 2020 levels by 150% by 2025.
The APAC consumer electronics industry size was worth US$ 270 billion in 2022, and it is expected to expand at a Compound Annual Growth Rate (CAGR) of 8.5% over the forecast period. This strong increase can be due to the region's high rates of smartphone and TV ownership, which are fueling the market's expansion.
According to the GSMA Mobile Economy research, there were more than 1.6 billion unique mobile users in the APAC region in 2021. By 2025, that number is expected to rise to 3.8 billion, greatly boosting the region's active optical cable market. Additionally, Asia Pacific dominated 40% of the worldwide television market. With roughly 442 million and 197 million TV households in China and India, respectively, in 2022, there is a clear need for high-quality and high-speed connectivity solutions.
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The active optical cables market is fragmented worldwide, with a significant number of large-scale vendors controlling the majority of the market. Companies like 3M, Amphenol Corporation, and Sumitomo Electric Industries, Ltd. are some of the key players in the present market. Intense competition between established businesses and new entrants is anticipated in the market, which is likely to increase the number of mergers and acquisitions.
Leading Companies in the Global Market are:
.AVAGOTECHNOLOGIES LIMITED (BROADCOMINC.)
.EMCORE (formerly Intel ICC)
.Hitachi Cable, Ltd.
.Sumitomo Electric Industries, Ltd.
.T&S Communication Co, Ltd.
.Other Prominent Players
The global active optical cable market segmentation focuses on Connector Type, Application, Distribution Channel, and Region.
By Connector Type
.High-Definition TV (HDTV)
.Medical Imaging Equipment
.Airplane Video Entertainment Systems
.Led Signboards in Pedestrian & Stadium Environments
By Distribution Channel
oRest of Western Europe
oRest of Eastern Europe
oAustralia & New Zealand
oRest of Asia Pacific
.Middle East & Africa (MEA)
oRest of MEA
oRest of South America
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