Press Release

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 on "Global Multimode Optical Fiber Market"

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.

About TechSci Research

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