Post Covid19: Fiber Optics Market To Reach USD 10.8 Billion By 2027 | CAGR 8.1% — Forencis Research
Global Fiber Optics Market: Key Highlights
- According to the new market research report “Fiber Optics Market by Fiber Type (Glass, Plastic), by Cable Type (Single Mode, Multi-Mode and Plastic Optical Fiber (POF)), by Application (Telecom, Oil & Gas, BFSI, Military & Aerospace and Medical), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America) — Global Forecast (2020 to 2027)”, the global fiber optics market is estimated to reach USD 10.8 Billion by 2027 at a CAGR of around 8.1% during the review period.
- The fiber optic cable is also known as optical fiber cables which is similar to an electrical cable, with one of more optical fibers which are being used to carry light.
- Moreover, fiber optics is mostly used in broadcasting as well as for electronics to provide an advance connections and performance. Also, these can be installed to support the long distance connections between computer networks in various areas.
Global Fiber Optics Market: Key Market Dynamics
- With the rising demand for Fiber to the X (FTTX) is witness to boost the growth of the market in the projected period. Whereas, the fiber has evolved an important components for network architectures, with its ability to accommodate great bandwidth with high speed.
- One of the major key concern of the fiber optics market is the wireless communication systems and the Covid-19 Pandemics which may restraining factor for the growth of the market. Whereas, the wireless communication system helps to transmit data form one end to another with the microwave radio spectrum.
- Rising demand for high bandwidth communication, where the companies in the fiber optics are aiming for the deployment of cloud based storage solution. Also it will helps for sending and retrieving the data at high quality with high performance can lead to boost the market demand.
- Due to the high initial cost of investment of the market it may lead to create a challenges for the market growth.
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Global Fiber Optics Market: Regional Overview
- North America:
The region is witness to be one of the leading in the adoption of advance technologies. Whereas, the region is anticipated to be the second largest consumer market in the world 5G fiber optic cable industry. However, fiber optic market in the region has increase demand as optic fibers are used in glass which is mostly used for transmitting light over long distances, which is pushing the growth of fiber optics market. Hence, North America is expected to witness the highest growth rate during the forecast period.
The Asia-Pacific is witness to increase significant market growth during the forecast period. Whereas, the increasing number of companies and infrastructural growth and developments in the region have lead create an opportunities for the fiber optics market growth in the region. Also, the China has also increasing its growth of application in the sectors such as telecom. Utility and various other sectors. However, in the region, China is projected to be one of the major hub for the manufacturing activities around the world.
Hence, Japan, India and South Korea is also anticipated to increase the demand of the market growth and its industries rate in the region.
Global Fiber Optics Market: Key Players Overview
- Corning Incorporated:
The company is a multinational technology company, which specialized in glass, ceramics, and related materials as well as technologies including enhance optics, mostly for industrial application. In 2018 the company had launched a new product Corning TXF Optical Fiber which helps to enable high data transmission over large period of time as well as extended reach for advance network flexibility and lower cost of network.
Hence, the Coming optical solution helps to provides communication flow smooth for the consumers and enterprises, who required a reliable and fast connections.
- II-VI Incorporated:
II-VI Incorporated is one of the global leader in engineered materials and optoelectronic components, is vertically integrated manufacturing company which helps to develops innovative products for diversified applications. Whereas, the company had achieves industry leading shipment milestone for pump lasers and erbium doped fiber amplifiers. In 2018, the company had announced its completed acquisition of CoAdna, a developer of wavelength selective switches.
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