Growth in need for fast and improved networking & network services and increase in broadband connections in developing economies are anticipated to be the major drivers of the India optical fiber and accessories market. Moreover, rise in government investments in fiber optic network cable (OFC network) infrastructures is expected to present major opportunities for India optical fiber and accessories market expansion during the forecast period.
The India optical fiber and accessories market is experiencing a healthy growth rate, owing to the ongoing implementation of 5G network and upcoming FTTH network projects across the globe. Moreover, an increase in consumer demand for fast networking has fueled the need for the deployment of fiber optic cables to improve the broadband connectivity. This increase in the demand for larger bandwidths for communication is expected to drive the growth of the market.
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The optical fiber industry is expected to provide promising growth prospects throughout the forecast period, owing to increase in investments and research undertaken by prominent optical fiber cable manufacturers in the industry to develop and upgrade the fiber optics technology application area. In addition, rise in awareness of the benefits of adopting the technology propels the market growth.
According to a recent report published by Allied Market Research, titled, “India Optical Fiber and Accessories Market by Component, Cable Category, and End Use: Opportunity Analysis and Industry Forecast, 2018-2025,” the India optical fiber and accessories market size was valued at $461.6 million in 2018 and is projected to reach $1.66 billion by 2026, growing at a CAGR of 17.2% from 2019 to 2026. An optical fiber is a transparent and flexible fiber made by drawing glass or plastic, which is used to transmit light. It is widely applicable in fiber-optic communications, where they allow transmission over longer distances and at higher bandwidths than wire cables. The Optical Fiber Accessories Market was valued at $303.2 million in 2018.
A number of companies have been working aggressively in building new plants to fuel the demand for optical fiber preform and optical fiber drawing tower capacities. Moreover, growth in data traffic on smartphones, tablets, and other mobile devices is driving the demand for fiber in India. Moreover, factors such as increase in industrialization; rise in penetration of internet in the emerging countries; and development of the telecom industry coupled with upcoming infrastructure projects in transport, energy, institutional sites, networks, and residential projects are expected to drive the growth of the fiber optic market. Furthermore, a number of schools and educational institutions are modifying the education system to e-classrooms, which require the fiber-to-the-home (FTTH) network. This is expected to increase the demand for fiber optic cables.
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The India optical fiber and accessories market is highly competitive, owing to strong presence of the existing vendors. Optical fiber vendors with access to extensive technical and financial resources are anticipated to gain a competitive edge over their rivals, as they have the capacity to cater to the market requirements. The competitive environment in this market is expected to further intensify with increase in technological innovations, product extensions, and different strategies adopted by the key vendors.
Key Findings of the India Optical Fiber and Accessories Market :
- By component, the copper cable segment is expected to exhibit significant growth in the India optical fiber and accessories market during the forecast period.
- In 2018, the CAT6 cables segment accounted for the highest revenue in the cable category.
- Based on end use, the telecommunication segment generated the highest revenue in 2018.
- Based on region, the East region is anticipated to exhibit substantial growth during the forecast period.
Key players in India optical fiber and accessories industry includes Sterlite Technologies Limited., Finolex Cables Ltd., Birla Cable Limited, Vindhya Telelinks Ltd., Universal Cables Limited, Polycab India Limited, Gupta Power Infrastructure Ltd., KEC International Limited, APAR Industries Limited, and Aksh OptiFibre Ltd. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their market penetration.
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