Asia-Pacific Next-Generation Optical Fiber Markets, 2022-2023 and 2031: Growing Demand for Cloud Computing and Data Centers, Biomedical Applications and Microelectronics [Yahoo! Finance]
SUMITOMO ELEC INDUS ADR (SMTOY)
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Source: Yahoo! Finance
The Asia-Pacific next-generation optical fiber market (multicore and hollow core fiber) is projected to reach $104.3 million by 2031 from $17.3 million in 2022, growing at a CAGR of 22.1% during the forecast period 2022-2031 With the growing demand from end-user industries such telecommunications, information technology, medical devices, aerospace and defense, among others, it is expected that the need for next-generation optical fiber would increase. Moreover, it is projected that the market for next-generation optical fiber (multicore and hollow core fiber) will continue to grow during the projected period of 2022-2031, driven by the telecommunications industry's increasing adoption of these fibers as well as the growing demand for information technology products in several emerging economies, such as China and India The next generation of optical fibers has more complicated designs and experience power attenuation, which is driving up component and installation costs. Addition
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