According to a new report, published by KBV research, The Global Fiber Optics Market size is expected to reach $15.43 billion by 2031, rising at a market growth of 7.4% CAGR during the forecast period.
The Multi-mode segment is leading the Global Fiber Optics Market by Type in 2023; thereby, achieving a market value of $7.71 Billion by 2031. This dominance is primarily attributed to its widespread adoption in short-distance data transmission applications, including local area networks (LANs), data centers, and enterprise networking. Multi-mode fiber offers cost-effective solutions for high-bandwidth communication within buildings and campuses, making it a preferred choice for various industries. Additionally, the growing demand for high-speed connectivity in commercial and industrial sectors has further fuelled the adoption of multi-mode fiber optics.
The Military & Aerospace segment is experiencing a CAGR of 6.7% during (2024 - 2031). The defense sector leverages fiber optics for secure communications, avionics, radar systems, and high-speed data transfer in combat and surveillance applications. Fiber optic cables offer advantages such as resistance to electromagnetic interference, lightweight properties, and enhanced durability, making them suitable for military-grade operations. The increasing investments in modern warfare technologies, satellite communications, and unmanned aerial vehicles (UAVs) have further boosted the adoption of fiber optics in military and aerospace applications.
Full Report: https://www.kbvresearch.com/fiber-optics-market/
The Asia Pacific region dominated the Global Fiber Optics Market by Region in 2023; thereby, achieving a market value of $5.71 billion by 2031. The North America region is expected to witness a CAGR of 6.7% during (2024 - 2031). Additionally, The Europe region would exhibit a CAGR of 7% during (2024 - 2031).
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