The global fiber optics market size is poised to grow by USD 2.44 billion during 2020-2024, progressing at a CAGR of almost 5% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201005005444/en/
Technavio has announced its latest market research report titled Global Fiber Optics Market 2020-2024 (Graphic: Business Wire)
The increase in the number of FTTH homes and subscribers is the key factor driving the market growth. A higher number of customers are opting for fiber optic connections to leverage broadband services. This reduces the requirements for customer premises equipment (CPE) and distribution point unit (DPU).
Register for a free trial today and gain instant access to 17,000+ market research reports. Technavio's SUBSCRIPTION platform
The major fiber optics market growth came from telecom sector. The rise in FTTx applications has been a major driver for the telecom sector growth since it facilitates optical fiber connection for last-mile connections. The emergence of 5G communication technology will also be a major factor supporting the growth of the global fiber optics market in the telecom segment.
APAC was the largest fiber optics market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The increasing number of telecom subscribers and the deployment of fiber optics in communications will significantly drive fiber optics market growth in this region over the forecast period.
The global fiber optics market is fragmented. CommScope Holding Co. Inc., Corning Inc., Fujikura Ltd., Hitachi Ltd., Leoni AG, LS Cable & System Ltd., Optical Cable Corp., Prysmian Spa, Sterlite Technologies Ltd., and Sumitomo Electric Industries Ltd. Are some of the major market participants. To help clients improve their market position, this fiber optics market forecast report provides a detailed analysis of the market leaders.
As the business impact of COVID-19 spreads, the global fiber optics market 2020-2024 is expected to have Negative and Inferior. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
Read the full report here: https://www.technavio.com/report/report/fiber-optics-market-industry-analysis
The Rise in Global Internet Traffic will be a Key Market Trend
The increasing demand for faster Internet has encouraged various companies to transition to FTTH, which enables high-speed internet access with faster voice and video services. The demand for faster internet is also leading to an increase in the number of FTTH homes and subscribers which will drive the fiber optics market growth during the forecast period.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
Fiber Optics Market 2020-2024: Key Highlights
CAGR of the market during the forecast period 2020-2024
Detailed information on factors that will assist fiber optics market growth during the next five years
Estimation of the fiber optics market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the fiber optics market
Analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of fiber optics market vendors
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
Value chain analysis
Market segment analysis
Market size 2019
Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
Five forces summary
Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
Market Segmentation by Application
Comparison by Application
Telecom - Market size and forecast 2019-2024
Datacom - Market size and forecast 2019-2024
Others - Market size and forecast 2019-2024
Market opportunity by Application
APAC - Market size and forecast 2019-2024
North America - Market size and forecast 2019-2024
Europe - Market size and forecast 2019-2024
MEA - Market size and forecast 2019-2024
South America - Market size and forecast 2019-2024
Key leading countries
Market opportunity by geography
Market drivers – Demand led growth
Market positioning of vendors
CommScope Holding Co. Inc.
LS Cable & System Ltd.
Optical Cable Corp.
Sterlite Technologies Ltd.
Sumitomo Electric Industries Ltd.
Scope of the report
Currency conversion rates for US$
List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201005005444/en/