New York, United States, Oct. 16, 2023 (GLOBE NEWSWIRE) -- A fibre optic is a flexible and transparent fibre that may operate as a waveguide, often known as a "light pipe," to transfer light between the two ends of the fibre. This type of fibre is constructed of extruded glass (silica) or plastic. “The global Lit Fiber market size is expanding at a CAGR of 16.56% from 2022 to 2030,” stated by Straits Research P. Ltd.
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Rising Trends
The net is a worldwide network of interconnected devices. Fiber optics serve as the internet's backbone, with optical fibre cables serving as the medium for transporting data from one location to another. In 2018, the number of internet users increased by roughly 45 percent. The internet is being driven by the expanding significance of cloud computing, data transport and storage, and IoT.
Because of the rising demand for mobile data and the debut of 5G services, telecom service providers are already buying up the existing lit fibre and also focused on developing their own. This is in response to the fact that 5G services will soon be accessible. The ever-increasing bandwidth requirement of portable device user audience and the mandated conversion to HD video quality for cable providers are two other reasons that are likely to fuel the expansion of the dark fibre network market throughout the projected period.
Growth Opportunities
In the context of broadband network architecture, the term "fiber-to-the-premises" refers to any design that implements the use of fibre optics as the optical medium for data transmission in a local loop intended for use in last-mile communications. The terms FTTH, FTTP, FTTB, FTTN, and FTTC are all included under the FTTx umbrella. Because of its capacity to provide more bandwidth at increased speeds, fibre has developed into a vital component for the development of modern networks. The number of apps that facilitate communication is continually expanding, and each of these applications has characteristics that call for a greater bandwidth and better speed.
Regional Overview of Lit Fiber Market
During the projection period, the APAC fibre optics market is expected to be the biggest. The region's industrialization and infrastructure development have opened up a plethora of prospects for the usage of fibre optics in a variety of applications.
Furthermore, China is the world's most populated country, resulting in an increase in applications such as communication, residential, utilities, CATV, and industrial. Because of the expanding industrial operations in the area, nations such as India and South Korea are seeing considerable growth rates.
Key Highlights
- The global lit fiber market size is expected to reach USD 14.31 billion in 2030.
- The market for Lit Fibre is segmented into the following: Product, Connectivity, Application and Region.
- Based on Product the market is divided into: Single Mode and Multi-Mode. In terms of revenue, the multi-mode category led the market in 2021, accounting for almost 62 percent of the entire market share. Over the projection period, it is also predicted to continue to lead the market.
- Based on region the market is segmented into: North America, Europe, Asia Pacific, Latin America and Middle East.
- During the projection period, the APAC fibre optics market is expected to be the biggest. The region's rapid industrialization and infrastructure development have opened up a plethora of prospects for the usage of fibre optics in a variety of applications
Competitors in Lit Fiber Market
- Corning Incorporated (US)
- Prysmian Group (Italy)
- Finisar (US)
- AFL Global (US)
- Sumitomo Electric Industries Ltd (Japan)
- LS Cable & System (South Korea)
- Leoni AG (Germany)
- Furukawa Electric Co. Ltd. (Japan)
- General Cable Corporation (US)
- Sterlite Technologies Limited (India)
- Optical Cable Corporation
Segmentation of Lit Fiber Market
By product
- Single Mode
- Multi-Mode
By Connectivity
- On-net
- Off-net
By Application
- Networking
- Industrial
- Aerospace & Defense
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East
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About Straits Research Pvt Ltd.
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