NEW DELHI, April 8, 2022 /PRNewswire/ — According to research conducted by Astute Analytica, the global fiber optic ribbon cable market revenue is expected to grow from USD 2,834.6 million in 2021 to USD 7,623.2 million by 2030. In 2022-2030 The market will witness a CAGR of 11.6% during the forecast period of 2019.Local area network (LAN) and data center networks are migrating to higher numbers of cable fibers to meet growing system bandwidth demands.Ribbon cables are now being deployed to meet these needs because they provide the highest fiber density relative to cable size, maximize path and space utilization, and facilitate termination.Ribbon cables are a convenient solution to space and weight issues.
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The market growth drivers are attributed to the increasing industry demand for faster speeds and greater bandwidth along with factors such as urbanization, industrialization, and rapid growth in consumer spending.As trends such as virtualization and convergence bring more traffic to 40G/100G data centers, cables with high fiber counts are required to support the growing bandwidth.Flexible ribbon cables offer the highest connection density relative to cable size, making every square foot count.Its small outer diameter and superior flexibility make it easier and faster to handle, creating installation possibilities in narrow passages and small conduits.Ribbon cables have recently become the primary cable of choice for deployment in campus, building, and data center backbone applications requiring more than 24 fibers.Compared to stranded loose tube and tight buffer cable designs, this design provides robust performance comparable to stranded loose tube cables and provides maximum fiber density relative to cable diameter.In addition, various local, state and national governments are taking measures to improve internet accessibility for their individuals, such as the Indian government’s Digital India initiative, which is also driving the growth of the market.Also, many tech companies are opening data centers across the globe, which in turn triggers market growth.For example, IBM opened three data centers in the United Kingdom, and Chinese cloud company Tencent Cloud launched its first data center in Jakarta, Indonesia.Moreover, the increasing integration of advanced and innovative technologies in data centers by key players coupled with the growing partnerships among market players will further propel the market growth over the forecast period.So, when we see bandwidth requirements that are twice as high as fiber optic, ribbon cable becomes the easiest, easiest and fastest way to plan for future network requirements.However, the complexity associated with the error resolution process disrupts the growth of the global optical fiber ribbon market over the forecast period.
On the basis of type, the global optical fiber ribbon market is segmented on the basis of single-mode and multi-mode.The multimodal segment held the highest market share in 2021 and is further estimated to continue to dominate over the forecast period.The growth of this segment is attributed to the growing demand for data centers, telecom solutions, and indoor solutions.The single mode segment will witness the highest annual growth rate during the forecast period.
In terms of termination, the market is divided into – with MT connectors and without MT connectors.Among them, the MT-free connector segment will hold the highest share in the global ribbon fiber optic cable market in 2021, while the MT connector segment will witness the highest CAGR during the forecast period.The MTP connector is a 12-fiber push/pull fiber optic connector with a footprint similar to an SC simplex connector.These high-density connectors are used to significantly speed up the network wiring process, minimize errors, and reduce congestion in patch panels.
Based on application, the market is segmented into FTTx, telecommunications, local mobile metropolitan area networks, other local access networks, avionics networks, digital video systems, flight management systems, weather radar systems, CATV, Ethernet backbone networks, and others.Among them, FTTx is expected to have the highest market share in 2021.The growth of this segment is attributed to technological advancements in data centers and initiatives by governments to improve internet accessibility.
Asia Pacific will dominate the global fiber optic ribbon cable market in 2021 and is expected to maintain its dominance over the forecast period.The region is further expected to register the highest CAGR during the forecast period.Growing industry demand for faster speeds and greater bandwidth coupled with rising number of data centers in emerging economies such as China, India, and Indonesia is accelerating market growth.