Market Trends of Global Telecom Cable Industry
This section covers the major market trends shaping the Telecom Cable Market according to our research experts:
Rising Internet Penetration and Adoption of Smartphones
- The growing applications of telecom cables in mobile devices such as smartphones and the rise of internet penetration are expected to augment the market's growth for the forecast period. Sumitomo Electonic, Leoni, and Nexans are key players who are intensely competing for space.
- The introduction of 4G LTE technology and 5G services across various developing countries lead to the market's growth, telecom operators in wireless markets, and the imminent 5G and high-speed internet upgrades to be an offering to the market. This migration is necessary to enable expansive network experiences. The telecom cable market is expected to grow with the demand for high-speed internet.
- The growing interest in multi-access edge computing and private mobile networks. The enterprise market for private mobile networks and edge computing is gaining momentum. The market is still growing, but it is promised to compete with many players competing for market share. Network operators must compete with other players who can be critical partners in providing solutions. In the next few years, other new entrants may begin to bet and define their role in this emerging but rapidly evolving market. These factors leverage the growth of the telecom cables market as well.
- Companies focus on innovating and expanding their cable business to improve internet speeds. For instance, in February 2022, telecommunications operator Bharti Airtel announced that it would join the SEA-ME-W-E6 Submarine Cable Consortium to expand its global network capacity to serve India's growing digital economy. SEA-ME-WE-6 connects Singapore and France, making it one of the largest submarine cable systems in the world.
- In August 2020, The Prime Minister of India inaugurated the Chennai-Andaman Nicobar Island Submarine cable landing project that can offer better internet and mobile connectivity in the islands, raising the submarine cable communications. Therefore, increasing the market for telecom cables.
- In today's growing and digitalized world, text messaging, emailing, and video streaming seem to be forging more income. Mobile data services have substituted telephone calls, developing the telecommunications industry's maximum revenue and exhibiting consistent increases in the number of subscriptions for internet connections. Moreover, the work-from-home culture has leveraged the global telecom cable market.
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Asia Pacific Region is Expected to Hold a Significant Market Share
- Increasing demand for connectivity and internet access in emerging metropolitan cities in the Asia Pacific region is actively driving the market growth. Finally, the growing need for faster internet speeds and better connectivity requires robust and efficient fiber optic test equipment filled with optical technology within the telecom cables, driving the market growth.
- Moreover, in March 2021, Advanced Television Systems Committee (ATSC) and Telecommunications Standards Development Society, India (TSDSI) signed a deal to boost the adoption of ATSC standards in India to make broadcast services available on mobile devices. This allows the TSDSI to follow ATSC standards, harmonizing global digital broadcasting standards. The agreement allows mobile operators to consider standards-based transmission technologies inherited from ATSC 3.0. This can further leverage the telecom cable market in India.
- In June 2020, Tata Communications, a digital ecosystem enabler, announced that the Asia Direct Cable (ADC) Consortium, of which it is a member, is making a high-performance submarine cable connecting China, Japan, the Philippines, Singapore, Thailand, and Vietnam. The consortium has selected NEC Corporation to construct the 9,400-kilometer-long ADC cable, which is anticipated to be finished by the end of 2022.
- In recent times, Asian companies have emerged as significant players. China and Japan have set precedents, firmly setting the Asia-Pacific countries on the map. Australia, South Korea, Taiwan, India, and Vietnam boast significant telecom operators in the Asia-Pacific region, bolstering the position of the Asia-Pacific region within the telecom industry and leveraging the telecom cables market in the region.
- Moreover, the Asia Pacific telecom cable market is expected to remain one of the largest markets and witness the highest growth over the forecast period due to growing demand for technologies such as cloud-based technology with high connectivity speed and increasing investment in IT infrastructure.
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