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Due to the increase in the number of Internet users, the demand for Internet services continues to increase, leading to the demand for high-bandwidth connections and data transmission services, and ultimately increasing the demand for optical fibers.
Jersey City, New Jersey, November 18, 2021/PRNewswire/-Verified Market Research recently released a report, "Fiber Optic Market" by fiber type (glass and plastic), cable type (single-mode and multi-mode) ), by application (telecommunications, oil and gas, military and aerospace, BFSI, medical), and by geography. According to the data of Verified Market Research, the global optical fiber market will be worth US$4.54 billion in 2020 and is expected to reach US$9.53 billion by 2028, with a compound annual growth rate of 9.9% from 2021 to 2028.
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Browse the in-depth catalog on the "Optical Fiber Market" 202-Page 126-Table 37-Numbers
Global optical fiber market overview
With the rise of digital transformation, the demand for optical fiber technology is increasing substantially. Technological progress has led to the enhancement of the field of communication networks, which has further promoted the optical fiber market. The increase in the number of Internet connections in developed and developing regions has further created demand for fiber optic technology. According to data from the International Telecommunication Union (ITU), in 2019, more than 51% of people worldwide are using the Internet. The report further pointed out that the global penetration rate has increased from nearly 17% in 2005 to more than 53% in 2019. Therefore, with the increase in the number of Internet users, the demand for data transmission has increased, thereby creating a demand for optical fiber.
The growing demand for FTTx technology is also an emerging high-growth prospect in the optical fiber market. FTTx is any broadband network architecture that uses optical fiber as an optical medium to transmit information for the last mile of telecommunications in the local loop. With the development of fiber optic networks, service providers have been able to optimize FTTx-Fiber to X, where X can refer to various user locations, such as homes (H, such as FTTH) and buildings (B, FTTB)-with the most effective , The most cost-effective connection and bandwidth capabilities. With the rise of OTT (Over-the-Top) culture, the demand for the video technology with the highest bandwidth consumption has increased.
The main players in the market are Corning Incorporated, Prysmian Group, Sterlite Technologies Limited, AFL Global, Finisar, Sumitomo Electric Co., Ltd., LS Cable & System, Leoni AG, Furukawa Electric Co. Ltd., General Cable Corporation, Optical Cable Corporation.
Verified Market Research has segmented the global fiber optic market based on fiber type, cable type, application, and geographic location.
Fiber reinforced composite materials market by type (carbon fiber, glass fiber, aramid fiber) by matrix type (polymer matrix, metal matrix) by resin type (thermoset composite material, thermoplastic composite material) by end-use industry (building and construction, automotive ), by geographic distribution, forecast, 2021-2028
By service (network design and optimization service, network maintenance and support service), by component (optical switch, optical transmission), by technology (wavelength division multiplexer (WDM), dense wavelength division multiplexer (DWDM)) Transmission network (OTN) equipment market)), by end user (telecommunications, government), by geographic location, forecast, 2021-2028
Optical network and communications market by component (optical fiber, optical amplifier, optical transceiver), by application (data center, telecommunications, enterprise), by technology (WDM, fiber channel, SONET), by geography, forecast , 2021-2028
The coherent optical equipment market is by device (module/chip, optical amplifier, optical switch, wavelength division multiplexer (WDM)), by application (original equipment manufacturer (OEM), network, data center), by end user (industry, Public Sector, Service Provider), by region, forecast, 2021-2028
5 leading optical transceiver manufacturers build an interconnected world
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