LUTON, BEDFORDSHIR, UK, September 16, 2022 (GLOBE NEWSWIRE) — Exactitude Consultancy, the research and advisory arm of Ameliorate Digital Consultancy Private Limited, has completed and released the final copy of its in-depth research report on the fiber optic cable market. .
The fiber optic cable market is expected to reach US$30.05 billion by 2029, with a CAGR of 14% over the forecast period (2022-2029).
The introduction of 5G network will help expand the optical cable business. A fast Internet connection is essential in many industries. The construction of 5G network infrastructure is currently underway in several countries. To meet the high demand for 5G connectivity, telecom leaders rely on fiber optic cables. For all these reasons, the fiber optic cable market is expected to grow.
Growing demand from FTTX and the telecom industry along with technological advances are the main reasons behind the growth of the fiber optic cable market.
The key players in the fiber optic cable market are Sterlite Technologies, Fujikura Limited, Finolex Cable Limited, Ofs Fitel, Sumitomo Electric Industries Ltd, Hindustan Cables Limited, Infinera Corporation, Corning INC, Birla Furukawa Fiber Optics.
The Asia Pacific fiber optic cable market is expected to grow at a significant CAGR during the 2020-2029 forecast period due to the presence of large fiber optic cable companies across the region. China is expected to account for the majority of the fiber optic cable market as it is expected to lay the majority of single-mode fiber optic cables in the next few years.
In India, fiber optic cables are increasingly being used to transmit signals with minimal loss. In addition, the government is investing more money in the development of telecommunications services. The Government of India has allocated 142 billion Indian rupees ($1.9 billion) for telecommunications infrastructure in the 2021-2022 federal budget to build a fiber optic cable network for defense services, roll out the Internet to 220,000 townships and strengthen mobile services in the northeast.
In addition, the growing demand for OFC in the IT and telecom industries, increased supply of mobile devices, increased adoption of FTTH (Fiber to the Home) and the spread of data centers are expected to drive the Indian fiber optic cable market. . year.
Fiber optic cables (FOC) are an important part of communication networks. Fiber optics, especially used by telecommunications companies, has met growing bandwidth demands over the past decade and is currently the transmission method of choice. With the increase in data traffic from various sources, including the Internet, e-commerce, computer networks and multimedia (voice, data and video), there is now a need for transmission channels that provide more bandwidth for such large amounts of data. Information. The solution was found in fiber optic lines with virtually unlimited bandwidth.
Improved telecommunications and broadband access will improve living standards by boosting tourism and creating jobs in the archipelago. The Andaman and Nicobar Islands will get faster and more reliable mobile and landline connectivity through the new network on par with the rest of the country.
Fiber optic cables have also been selected to support bandwidth levels in line with advanced technologies such as 5G, big data, and the Internet of Things, which rely heavily on real-time data collection and transmission due to their security, scalability, and unlimited throughput capacity for processing. a huge amount of return traffic. The introduction of 5G is expected to directly increase network capacity and reduce latency.
The Internet is a vast global network of interconnected technologies. Data is transferred between sites using fiber optic connections, which are the backbone of the Internet. The International Telecommunication Union estimated that 51.2% of the world’s population used the Internet in 2018. (ITU). Recently, the fiber optic cable industry has grown by 15-25% per year. To meet this demand, manufacturers intend to expand. For instance, Corning said in February that it will spend more than USD 150 million to increase the capacity of its optical fibre manufacturing plant in Wilmington, North Carolina, while AT&T apparently plans to increase production at its Norcross, Georgia, location.
The global PTFE fabric market size was estimated at US$830 million in 2020 and is expected to reach US$1,332.43 million by 2029, growing at a CAGR of 5.4% during the forecast period.
The global market for sulfuric acid for semiconductors is expected to grow at a CAGR of over 7.3% per annum from 2019 to 2028. It is expected to reach over $7.8 billion by 2028, up from just over $4.8 billion in 2019.
Post time: Sep-19-2022
