The Latin America, Middle East and Africa Fiber Optic Preform Market would witness market growth of 22.8% CAGR during the forecast period (2023-2030).
Fiber optic networks have enabled bandwidth-intensive communication due to the plethora of advancements in the telecommunications industry, optical fibers are also being utilized in the oil and gas, aviation, defense, utilities, railway, and healthcare sectors. The ongoing growth of smartphones, computers, and other portable devices is anticipated to increase data traffic, thereby stimulating further demand for optical fiber. Constant change characterizes the market, given its critical role in the supply chain that underpins the optical fiber and cable industry.
Transmission and reception are the primary functions of optical fiber cables in the telecommunication system. It is implemented across diverse networking domains, enhancing data transmission's velocity and precision. In comparison to copper conductors, fiber optic cables are more flexible, lighter, and powerful at transmitting data. Communication and data transmission expenses have been drastically reduced because fiber optics enables the conveyance of more excellent data bandwidths over longer distances in a significantly brief amount of time than copper-based transmission.
According to the International Telecommunication Union (ITU), the Brazilian government has introduced a new national strategy to provide internet connectivity to the 140,000 state-run schools in the nation. By the end of 2026, the Brazilian government wants to have connected every school to the Internet. The National Strategy for Connected Schools sets quality targets to guarantee that every student in the nation has access to and can utilize ICTs (information and communication technologies) for learning purposes. Therefore, the use of optical fiber in the oil and gas and telecommunication sectors in the region is propelling the growth of the market.
The Brazil market dominated the LAMEA Fiber Optic Preform Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $336.9 Million by 2030. The Argentina market is exhibiting a CAGR of 23.5% during (2023 - 2030). Additionally, The UAE market would experience a CAGR of 22.5% during (2023 - 2030).
Based on Process, the market is segmented into VAD, OVD, PCVD, and MCVD. Based on End-user, the market is segmented into Telecom, Oil & Gas, Military & Aerospace, BFSI, Railway, Medical, and Others. Based on Type, the market is segmented into Multi-Mode, Single-Mode, and Plastic Optical Fiber. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Fiber Optic Preform Market is Projected to reach USD 21 Billion by 2030, at a CAGR of 20.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Corning Incorporated, Optical Cable Corporation, Sterlite Technologies Limited, Prysmian Group, Furukawa Electric Co., Ltd., Sumitomo Electric Industries, Ltd., Yangtze Optical Fibre and Cable Joint Stock Limited Company, Hengtong Group Co., Ltd., Fujikura Ltd. and Shin-Etsu Chemical Co., Ltd.
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