The global fiber optics market size is expected to reach USD 2472.9 Million in 2028 and register a steady CAGR of 10.5%, according to the latest report by Reports and Data. Key factors driving global market revenue growth are high adoption of Fiber to the Home (FTTH), Fiber to the Building (FTTB) and 5G network, increasing investments in optical fiber cable network and increasing demand for fiber optics in the medical sector for various applications such as x-ray imaging, remote spectrophotometry and surgical endoscopy.
Fiber optics are transparent, flexible cables made up of glass or plastic that transmit light between two ends of the fiber and are widely used in fiber optic communications. These are preferred over copper electronic cables due to higher bandwidths and transmission over long distances. Factors such as rapid growth in the IT and telecommunication sector, increasing penetration of smartphones, high usage of fiber optics in various sectors such as oil and gas, military, utilities, and increasing investments in fiber optics technology are boosting segment revenue growth. In addition, increasing adoption of Over the Top (OTT) platforms, video streaming, and CATV are supporting the growth of fiber optics market. However, high installation prices and high demand for wireless communication services and products are expected to hamper growth of the global fiber optics market throughout the forecast period.
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ICT refers to both the internet-connected world and the mobile world powered by wireless networks. It also contains outdated technologies like landlines, radio, and television broadcasting, which are still widely utilized today alongside cutting-edge ICT elements like artificial intelligence and robotics.
Although ICT and IT (information technology) are occasionally used interchangeably, ICT is generally used to refer to a broader, more comprehensive list of all components connected to computer and digital technologies than IT.
The list of ICT components is long, and it’s still growing. Computers and telephones, for example, have been around for decades. Others are newer additions, such as smartphones, digital televisions, and robotics.
ICT, on the other hand, usually refers to more than a list of components. It also includes the implementation of all of those different components. It is here that ICT’s true potential, power, and danger can be discovered.
The Fiber Optics market has been segmented into key regions of the world and offers an analysis of growth rate, market share, market size, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Fiber Optics market.
Conclusively, all aspects of the Fiber Optics market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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