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The global fiber optics market was valued at US$ 10.8 Billion in 2022.
We expect the global fiber optics market to exhibit a CAGR of 16.8% during 2023-2028.
The increasing demand for fiber optics across the military and defense sector for vehicle navigation, environmental sensing and monitoring, and transmitting radio signals, is primarily driving the global fiber optics market.
The sudden outbreak of the COVID-19 pandemic has led to the rising deployment of remote working model resulting in the increasing demand for fiber optics to effectively transmit data, voice messages, and images over vast distances.
Based on the cable type, the global fiber optics market can be categorized into single mode and multi-mode. Currently, multi-mode accounts for the majority of the global market share.
Based on the optical fiber type, the global fiber optics market has been segregated into glass and plastics, where plastics currently hold the largest market share.
Based on the application, the global fiber optics market can be bifurcated into telecom, oil and gas, military and aerospace, BFSI, medical, railway, and others. Among these, the telecom sector exhibits a clear dominance in the market.
On a regional level, the market has been classified into Europe, North America, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific currently dominates the global market.
Some of the major players in the global fiber optics market include Corning Inc., Prysmian Group, Finisar, AFL Global, Sumitomo Electronics Industries (SEI), Ls Cable & System, Leoni AG, Furukawa Electric, General Cable Corporation, Finolex, etc.
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