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28 Oct 2021, 00:47 GMT+10
The global fiber optics market size is expected to reach USD 2472.9 Million in 2028 and register a steady CAGR of 10.5%, according to the latest report by Reports and Data. Key factors driving global market revenue growth are high adoption of Fiber to the Home (FTTH), Fiber to the Building (FTTB) and 5G network, increasing investments in optical fiber cable network and increasing demand for fiber optics in the medical sector for various applications such as x-ray imaging, remote spectrophotometry and surgical endoscopy.
Fiber optics are transparent, flexible cables made up of glass or plastic that transmit light between two ends of the fiber and are widely used in fiber optic communications. These are preferred over copper electronic cables due to higher bandwidths and transmission over long distances. Factors such as rapid growth in the IT and telecommunication sector, increasing penetration of smartphones, high usage of fiber optics in various sectors such as oil and gas, military, utilities, and increasing investments in fiber optics technology are boosting segment revenue growth. In addition, increasing adoption of Over the Top (OTT) platforms, video streaming, and CATV are supporting the growth of fiber optics market. However, high installation prices and high demand for wireless communication services and products are expected to hamper growth of the global fiber optics market throughout the forecast period.
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Some key highlights in the report:
Segments covered in the report:
Market segment based on Optical Fiber Type:
Market segment based on End-user:
On the basis of regional analysis, the market is segmented into key geographical regions such as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. According to the analysis, North America is expected to dominate the market with the highest market share. Asia-Pacific is anticipated to show a significant growth rate owing to rising development and population demands.
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Beneficial Aspects of the Report:
Research Methodology:
The market report is formulated on the basis of data obtained through extensive primary and secondary research. The data is further validated and verified by industry experts, research analysts, and professionals.The report considers regional demand and supply ratio, investments, market dynamics, capacity, end-use industry trends, and consumer behavior to generate a forecast report. The data is collected from verified sources such as government policies, regulatory published materials, journals, trade magazines, and verified data sources. The report uses advanced analytical tools such as SWOT Analysis, Porter's Five Forces Analysis, Feasibility Analysis, and Investment Return Analysis to provide an accurate insight into the market scenario and competitive landscape. This report provides beneficial information to companies and new players to make lucrative business decisions. The market estimates and forecast data have been thoroughly verified through exhaustive primary research.
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