Learn The Truth About Fiber Optics Market Industry In The Next 60 Seconds.

Posted by Loise Williams on November 22nd, 2019

The global fiber optics market is expected to grow at a CAGR of 9.64% during the forecast period. Based on application, the global fiber optics market has been segmented into telecom, datacom, and others. As per the latest market research report published by Technavio, the global fiber optics market size will grow by USD 5.11 billion during 2019-2023. Get the free sample report below for the detailed information.

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The growth of the global fiber optics market in telecom applications is attributed to the factors which include a significant increase in Internet traffic, which leads to the need for higher bandwidth, the growth of fiber to the x (FTTx), and the growth of 5G technology and its commercialization. The growth of data-heavy applications such as video streaming, music streaming, and downloads is another factor responsible for the growing demand for higher bandwidth to support such data applications. 

The growth of FTTx applications has been a major driver of the telecom sector since it allows optical fiber connection for last-mile connections. With the increasing demand from customers for faster Internet at their homes, optical fiber cables are becoming the preferred choice. Therefore, this will lead to an increase in the sales of the fiber optics required at company premises, homes, complexes such as shopping malls, and other buildings. Thus, the global fiber optics market is growing in the telecom segment during the forecast period. To know the complete and in-depth analysis and forecast of this market get the complete report by clicking the link below.