Description
The global fiber optics market size was USD 4.9 billion in 2021 and is estimated to reach USD 9.9 billion by 2028, at a CAGR of 11.1% from 2022-to 2028. The growing demand for the Internet across the globe acts as one of the main factors pushing the demand of the fiber optics market. The upgrade in technology where electronic devices can communicate via the Internet and promote demand from the telecom initiative, electromagnetic interference, community access television (CATV), and military, utility, and interconnected devices accelerate the market growth. Adopting fiber optic cables to transmit signals with less loss and digital data transmission using optic fibers further impacts the market. Additionally, rapid urbanization and industrialization, the surge in investments, and the expansion of end-use industries and use in residential, commercial, and government positively affect the fiber optics market.
