Growing demand for
higher bandwidth communication to drive global multimode fiber market through
2024
According
to TechSci Research report, “Global Multimode Fiber Market By Product, By
Application, By Material, By Region, Competition, Forecast & Opportunities,
2024”, global multimode fiber
market is anticipated to grow at a CAGR of around 6% during the forecast period.
As the name represents, multimode 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 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 fiber. Furthermore, adoption of multimode fiber is
increasing as replacement for copper-based cables for high speed transmission, which
would fuel growth in the during the forecast period. However, one of the major
challenges associated with the multimode fiber is that it cannot be used for
long distances. 2 kilometers is the maximum distance for the use of multimode
fiber as beyond that various modes in multimode tend to diffuse together.
Browse market data Tables and Figures
spread through 110
Pages and an in-depth TOC on "Global Multimode Fiber Market"
In terms of application, IT & telecom dominated the market in 2018
and the trend is likely to continue in the upcoming years as well due to
increasing number of cloud based applications, video on demand and audio video
services. Fiber optics offer high speed connectivity for both long range and
short range, thereby driving the adoption of optical fiber in IT & telecom.
Optical Cable Corporation, OFS, AFL Telecommunications, LLC, Corning
Incorporated, CommScope Inc., General Cable, Fujikura Ltd., Furukawa Electric
Co. Ltd., and Sumitomo Electric Industries Ltd., are some of the leading
players operating in global multimode fiber market. The companies operating in
the market are using organic strategies such as plant capacity expansion,
mergers & acquisitions, and distribution channel expansion to boost their
share. In 2018, Corning, Inc opened a new manufacturing plant to serve the
increasing 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 fiber due to
the technological advancements, high adoption of technology in IT & telecom
in economies such as China and India. Additionally, initiatives taken by the
government for smart cities are further anticipated to drive Asia-Pacific multimode
fiber market during the forecast period.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Global Multimode Fiber Market By Product, By
Application, By Material, By Region, Competition, Forecast & Opportunities,
2024” has
evaluated the future growth potential of global multimode 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 fiber market.
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