IT and Telecom to Account for Largest Share in Multimode Optical Fiber Market
Growing demand for higher
bandwidth communication to drive global multimode optical fiber market through
2024
According to
TechSci Research report, “Global Multimode
Optical Fiber Market By Product,
By Application, By Material, By Region, Competition, Forecast &
Opportunities, 2024”, global multimode optical
fiber market is anticipated to grow at a CAGR of nearly 16% during 2019 - 2024.
As the name represents, multimode optical fiber consists of several modes or
light rays in a single optical fiber, in which each mode has slightly different
reflection angle within the core of the fiber. Multimode optical fiber costs
less when compared with single mode due to the use of LED components for
transmission in former fiber. LED components are inexpensive and easy to
calibrate, thereby driving the market for multimode optical fiber, globally. Multimode
optical fiber is increasingly replacing copper-based cables for high speed
transmission, which is expected to continue boosting market growth during the
forecast period. However, one of the major challenges associated with the
multimode optical fiber is that it cannot be used for long distances. Two
kilometers is the maximum distance for the use of multimode optical fiber as
beyond that various modes in multimode tend to diffuse.
Browse 19 market data Tables and 97 Figures
spread through 110 Pages and an in-depth TOC
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Market"
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In
terms of application, IT & Telecom segment dominated the market in 2018 and
the trend is likely to continue in the coming years as well due to increasing
number of cloud based applications, video on demand and audio video services. Corning
Incorporated, Yangtze Optical Fibre and Cable, Furukawa Electric Co., Ltd., Hengtong
Group Co Ltd., Prysmian group, Sumitomo Electric Industries, Ltd., Fiberhome
Networks, Futong Group Co., Ltd., ZTT International Limited, and Fujikura Ltd. are
some of the leading players operating in the global multimode optical fiber market.
The companies operating in the market are using organic strategies such as plant
capacity expansion, mergers & acquisitions, and distribution channel
expansion to increase their market share. In 2018, Corning, Inc opened a new
manufacturing plant to serve the rising demand for optical fiber in North
Carolina. The company also introduced TXS optical fiber which can be used to
transfer data at high speed over large distances at lower costs.
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“Asia-Pacific
region is anticipated to witness significant adoption of multimode optical
fiber due to the continuing technological advancements couple with rising
adoption of technology in IT & telecom in major economies such as China and
India. Additionally, initiatives taken by the governments for smart cities are further
anticipated to drive Asia-Pacific multimode optical fiber market during the
forecast period.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Global Multimode Optical Fiber Market By Product,
By Application, By Material, By Region, Competition, Forecast &
Opportunities, 2024” has evaluated
the future growth potential of global multimode optical fiber market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global multimode optical fiber market.
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