IT & Telecom to Account for Largest Share in Multimode Fiber Market During Forecast Period

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.

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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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