The global multimode fiber cable market was worth around USD 872.5 million in 2021 and is estimated to grow to about USD 1,216.7 million by 2028

SUITE N202, NEW YORK, UNITED STATES, December 13, 2022 /EINPresswire.com/ -- The global multimode fiber optic cable market was dominated by the Asia Pacific in 2021. Due to the rising usage of fiber optics in the IT and telecom sectors, Asia Pacific dominated the worldwide fiber optics market in terms of revenue in 2021. Furthermore, the area presents a profitable growth prospect by continuing to have a leading market position in the upcoming years. The need for multimode fiber optics is fueled by the region's tremendous development possibilities for new technologies. The deployment of fiber optic cables across a variety of applications in the area has experienced tremendous growth potential due to the region's growing industrialization and infrastructure development. The growth of multimode fiber-optic cable networks has increased the speed and scale of the data networks used by cellular carriers and cable providers, enabling transfer of more data at a faster rate. This breakthrough is expected to lead to further industry revenue growth. Key players functioning in the global multimode fiber cable market include Optical Cable Corporation (OCC), Corning Incorporated, OFS Fitel, LLC, Sterlite Technologies Limited, AFL, Prysmian Group, Finolex Cables Limited, Birla Furukawa Fiber Optics Limited, and Yangtze Optical Fiber and Cable Co., Ltd. (YOFC).

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Global Multimode Fiber Cable Market: Overview

Multi-mode optical fiber is a particular kind of optical fiber that is mostly used for communication across short distances, such as inside of a building or on campus. Up to 100 Gbit/s of data can be transferred through multi-mode networks. The greatest length of a transmission link can only be as long as a multi-mode fiber can transmit numerous light modes due to its relatively large core diameter and modal dispersion. The most popular types of multi-mode optical fiber are those that comply with the G.651.1 standard. Compared to single-mode optical fiber, multi-mode optical fiber requires less expensive communication equipment. 100 Mbit/s for distances up to 2 km (100BASE-FX), 1 Gbit/s for distances up to 1000 m, and 10 Gbit/s for lengths up to 550 m are typical transmission speeds and distance limits.

Increased demand for greater capacity and quicker speeds will accelerate the expansion for global multi-mode fiber cable market. Due to a growth in the usage of the internet for video calls, gaming, online shopping, and social networking, both businesses and consumers are experiencing a surge in demand for high bandwidth. In order to speed up internet connections that can handle more bandwidth, fiber optic cable relies on light to carry data rather than electricity. For instance, 4K Ultra High Definition (UHD) TV requires three times as much data as standard HD TV or about 15–18 Mbps. It is predicted that 62 percent of flat panel TVs linked to the internet by 2022 will be 4K. The demand for more bandwidth is being emphasized, which increases video consumption. As a result, the market for multi-mode fiber cable is expanding due to increased demand for faster speed connections and more bandwidth. A significant issue in the multimode fiber cable business is speed and range restrictions.

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Global Multimode Fiber Cable Market: Segmentation

The global multimode fiber cable market is segregated based on product type, material type, and application. Based on product type, the market is divided into multimode, single mode, and plastic optical fiber. The multimode product type acquired a major share in the market share in 2021. Based on material type, the market is divided into glass and plastic. In 2021, plastic-type multimode cables dominated the market. Based on application, the market is divided into military & aerospace, oil & gas, BFSI, railway, telecom, medical, and others. In 2021, the BFSI sector dominated the market.

Key Insights

Multimode fiber cable market value is projected to grow at a CAGR of 5.7% over the forecast period.
The global multimode fiber cable market size was worth around USD 872.5 million in 2021 and is estimated to grow to about USD 1,216.7 million by 2028
The multi-mode fiber cable industry is expanding as a result of technological developments in fiber optic cables.
The Asia Pacific led the multimode fiber optic cable market in 2021.
In 2021, plastic-type multimode cables dominated the market.
The multimode product type acquired a major share of the market in 2021.

Recent developments:

In July 2020, Leviton, an American maker of electrical wire equipment, paid Nexans $202 million for Berk-Tek. Through this purchase, Berk-Tek will be able to further automate procedures, improve ordering, and improve the service & support it provides to both customers and channel partners. A North American cabling firm with outstanding skills for product development and manufacture is Berk-Tek.

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Global Multimode Fiber Cable Market: Growth Drivers

Increasing data volume and internet usage to drive the market growth

The number of internet users has been increasing exponentially over the world. Social networking services, online entertainment, Voice over IP (VoIP), and mobile payments have all grown widespread thanks to the rise in internet usage. As a result of the widespread use of tablets, laptops, smartphones, and other wireless devices, traffic related to data services, video streaming, online gaming, and the internet has significantly increased. To get to its destination, wireless traffic uses a fiber optic wireline network. As a result, landline networks like front haul and backhaul are largely responsible for the rise of mobile communications. An enormous amount of data is created and replicated globally as a result of rising multimedia usage. The expansion of the global multimode fiber cable market will be fueled by the increased deployment of new fiber optic cables and subsystems due to the increasing quantity of data being created.

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