Top Emerging Trends Of Lit Fiber Market Progress Forecast 2030 |Grand View Research, Inc.Posted by Mrudula Anil Karmarkar on September 4th, 2023 San Francisco, 04 September 2023: The ReportLit Fiber Market Size, Share & Trends Analysis Report By Product (Single-mode, Multi-mode), By Connectivity (On-net, Off-net), By Application (Networking, Industrial, Aerospace & Defense), By Region, And Segment Forecasts, 2022 - 2030 The global lit fiber market size is expected to reach USD 14.24 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 16.7% from 2022 to 2030. Lit fiber is a fiber-optic infrastructure that is active and transmits data over thin strands of fiber optic cables. The strong growth for internet bandwidth and the prevalence of internet services throughout time have increased the demand for lit fiber. This demand is likely to stay strong throughout the forecast period, and it is one of the most important drivers of worldwide market expansion. Companies that rely heavily on internet access are prominent supporters of the market. These networks are highly beneficial for organizations with a high volume of data flow, thus, offering reduced network latency, scalability, reliability, and enhanced security. Companies in the fiber optic ecosystem have been focusing on expanding their network by connecting several cities and countries with lit fiber. This has led to these companies gaining a significant share of the market. In May 2022, Flume Internet started using underutilized fiber capacity to provide high-speed internet to New Yorkers. To exploit its asset-light approach, the company has worked with many infrastructure partners and asset owners, allowing it to scale its network in more than 20 regions over the next several years. In August 2021, Zayo outlined a framework where the company plans to light 35,000 buildings across North America and Europe. The company aims to cater to the increasing demand for lit fiber from towers, data centers, and enterprises. Optical fiber cables are used to transmit data from one site to another. Telecommunication, commercial, residential, government, aerospace, and private data networks seem to be a few of the industries that use these cables. The growing demand for high-speed Internet services is likely to further drive market growth. The market is also predicted to be driven by the increased adoption of new telecommunication technologies including FTTX (Fiber-to-the-X) and 5G mobile applications. Owing to the presence of significant technology firms, North America has been an early adopter of new innovative technologies. Furthermore, the market expansion in this region has been boosted by the availability of enhanced technological infrastructure and reliable network connectivity. Lit fiber can be configured as point-to-multipoint, with dedicated internet access and managed wave connections. Companies, including Amazon and Microsoft, offer their customers high-speed, low-latency connections and a secure network. It has enabled colleges and universities to stream their lectures in 4K video quality and present immersive learning experiences to students across the community. Request sample report of Lit Fiber Market@https://www.grandviewresearch.com/industry-analysis/lit-fiber-market-report/request/rs1 Lit Fiber Market Report Highlights
The rising demand for high bandwidth communication is propelling the growth of the market. Lit fiber networks easily transmit data, including audio, video, and pictures, across a few meters to several kilometers. It is an active cable primarily deployed across the globe and is entirely established, managed, and maintained by service providers. Lit fiber allows enterprises to scale their business, allowing network engineers to maintain and troubleshoot the network, making it more reliable. The IT and Telecommunication sectors have witnessed some significant applications of lit fiber. Technological advancements in the telecom sector have also been attributed to the rise in the deployment of broadband network architecture. Lit Fiber Market Report Scope
List of Key Players in Lit Fiber Market
Have a Query? Ask Our Expert:https://www.grandviewresearch.com/inquiry/452905/ibb Like it? Share it! More by this author |