The global fiber optic market reached a value of US$9.2 billion in 2021 and is projected to reach US$23.4 billion by 2027, at a CAGR of 17.7% during the period 2022 -2027.
SHERIDAN, WYOMING, USA, August 3, 2022 /EINPresswire.com/ — IMARC Group’s latest report, titled “Fiber Optics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which includes information about the global fiber optic market report. The report also includes competitor and regional analysis, as well as contemporary advancements in the global market.
The global fiber optic market reached a value of US$9.2 billion in 2021. Looking ahead, IMARC Group expects the market to reach US$23.4 billion by 2027 , with a CAGR of 17.7% in 2022-2027. Optical fibers represent the thin cables that are generally used to transmit data in the form of light pulses. They are usually made of glass or plastic. Some of the commonly available fiber optic variants in the market include fiber to the building (FTTB), fiber to the home (FTTH), fiber to the curb (FTTC), etc. traditional non-metallic cables, they provide higher bandwidth and faster internet connection. In accordance with this, these cables are not affected by electromagnetic interference and temperature fluctuations. Therefore, optical fiber finds wide applications in several industries, such as telecommunications, oil and gas, healthcare, etc.
We regularly monitor the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.
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Global Fiber Optic Market Trends:
Growing demand for data transmission services and growing penetration of high-speed internet connectivity are mainly driving the fiber optic market. Moreover, the initiation of various favorable policies by government bodies across countries for the development of smart cities is further catalyzing the growth of the market. Additionally, the widespread adoption of this technology in medical procedures including X-rays, surgical endoscopy and microscopy, ophthalmic lasers, light therapy, etc., acts as another significant growth factor. Additionally, the increasing use of fiber optics which is an integral part in the efficient transmission of data, voice messages and images over a long distance is also positively influencing the global market. Apart from this, the introduction of many advanced technologies such as cloud computing and Internet of Things (IoT) is expected to drive the fiber optic market over the forecast period.
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The competitive landscape of the market has been studied in the report along with the detailed profiles of key players operating in the market.
Some of these key players include:
• Corning Inc.
• Prysmian Group
• World AFL
• Sumitomo Electronic Industries (SEI)
• Ls cable and system
• Leoni AG
• Electric Furukawa
• General Cable Corporation
Key Market Segmentation:
Breakdown by type of cable:
• Single mode
Breakdown by type of optical fiber:
Breakdown by application:
• Oil and gas
• Military and aerospace
Breakdown by region:
• North America (United States, Canada)
• Asia-Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, others)
Main highlights of the report:
• Market performance (2016-2021)
• Market Outlook (2022-2027)
• Impact of COVID-19 on the market
• Porter’s five forces analysis
• Historical, current and future market trends
• Market drivers and success factors
• SWOT analysis
• Market structure
• Value chain analysis
• Complete mapping of the competitive landscape
Table of contents of the report:
• Scope and methodology
• Global market
• SWOT analysis
• Value chain analysis
• Price analysis
• Competitive landscape
Note: If you need specific information not currently covered by the report, we can provide it to you as part of the customization.
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