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5G Revolution Fuels Growth in the Single-Mode Fiber Cable Market || Corning Incorporated, Fujikura Ltd., Sumitomo Electric Industries Ltd., Furukawa Electric Co. Ltd
Single-Mode Fiber Cable Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the single-mode fiber cable industry. This report on single-mode fiber cable market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The single-mode fiber cable market size has grown strongly in recent years. It will grow from $66.88 billion in 2023 to $71.95 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to telecommunications growth, internet expansion, fiber to the home (ftth), data centers, globalization of business. The single-mode fiber cable market size is expected to see strong growth in the next few years. It will grow to $99.02 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%.
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Key Market Players:
Corning Incorporated, Fujikura Ltd., Sumitomo Electric Industries Ltd., Furukawa Electric Co. Ltd., Pirelli & C. S.p.A., Nexans S.A are prominent players in the single-mode fiber cable industry.
Market Drivers:
According to the Single-Mode Fiber Cable Market Report 2023 by The Business Research Company, the key factors driving the growth of the single-mode fiber cable market, includes the increasing adoption of 5G technology. 5G is the fifth generation of cellular network technology, designed to provide faster download and upload speeds, lower latency, and increased capacity. Single-mode fiber cable is an essential component of 5G networks since it provides the high-speed, low-latency, and dependable connectivity necessary for the upcoming generation of wireless connectivity. For instance, in April 2023, according to 5G Americas, a US-based trade association representing major telecommunications firms and providers, from the end of the year 2021 to the end of 2022, global 5G wireless network connections climbed by 76%, reaching 1.05 billion.
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Market segments for single-mode fiber cable include:
1) By Cable Type: Quartz Optical Fiber Cables, Multicomponent Glass Fiber Cables, Plastic Optical Fiber Cables, Other Cable Types
2) By Type: G.652, G.653, G.654, G.655, G.656, G.657
3) By Application: Telecommunication and Networking, Data Centers, Community Antenna Television, Factory Automation and Industrial Networking, Military, Other Applications
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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