The fiber optics market, valued at $6.7 billion in 2020, is projected to grow at a 4.7% CAGR from 2021 to 2026, driven by high-speed bandwidth demand and technological innovations.
As per the latest report by IMARC Group, titled “Fiber Optics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global fiber optics market reached a value of US$ 6.7 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 4.7% during 2021-2026.
Fiber optics are thin strands generally manufactured from glass or plastics that are used to transmit data through fast-travelling pulses of light. They involve the use of light for connectivity instead of electrical signals; hence, they are not affected by power outrage or electromagnetic interferences. They offer high speed and bandwidth that helps the users download and upload data in a quick and efficient manner. Apart from this, they are robust in nature, making them resistant to weather changes and fire hazards.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Fiber Optics Market Trends:
The global market is primarily driven by the increasing preference for high-speed bandwidth connectivity. Along with this, the rising investments by public and private firms of numerous countries to upgrade the existing telecommunication infrastructure and broadband network architectures across the globe are creating a positive outlook for the market. Moreover, continual technological innovations, such as the widespread adoption of the 4G network, fiber to the building (FTTB) and fiber to the home (FTTH) technologies, are providing an impetus to the market growth. Other factors, including rapid digitization and the expansion of smart cities across the globe, are contributing to the market growth further.
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Key Market Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
Breakup by Cable Type:
Breakup by Optical Fiber Type:
Breakup by Application:
Breakup by Region:
Key highlights of the Report:
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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The article focuses on the growth and forecast of the fiber optics market from 2021 to 2026.
What factors are driving the fiber optics market growth?
How does technological innovation impact the fiber optics market?
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