Global Fiber Optic Cable Market Size and Growth Prospects to 2022
Global Fiber Optic Cable Market Reaches $9.24 Billion By 2020 The global fiber optic market has seen a significant increase in revenue due to the increase in global internet usage. However, the fiber optic cable industry has experienced a downward cycle of nearly 3 years since reaching a cycling boom high in 2017. This is mainly due to the abrupt decline in demand in 2018 and the concentrated launch of production capacity in 2018, with the industry entering a downward cycle under a supply-demand mismatch. However, due to the better reliability, speed, dependability, and transmission capabilities of optical fiber. Digital data transmission over fiber optics became faster than copper wires, leading to increased use in the telecom sector. According to ZMS cable industry reference data, the global fiber optic market is valued at $4.54 billion in 2020. Growing demand from FTTx and telecom sectors along with technological advancements are the major reasons for the growth of the fiber op...