Northbrook, IL 60062 -- (SBWIRE) -- 11/06/2023 -- France has a large and diversified industrial manufacturing base. It is the fifth-largest economy in the world. France is one of the leading European countries to focus on advanced technologies for data communication purposes in various sectors.
The increasing demand for optical networking equipment for data transmission with high speed in the datacom and telecom industries is likely to directly boost the demand for fiber optics. The growth of the market in France can also be attributed to the favorable government initiative and funding supporting the rollout of optical fiber networks. In January 2021, the French government increased state support for the deployment of fiber optic networks in the country by providing USD 4.31 billion in funding. The government has also announced an additional USD 440.83 million for the France Relance project, which aims to deploy optical fiber network in rural areas of France.
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Increasing investment to support the deployment of submarine fiber networks in France will foster the fiber optics market growth. In December 2021, Crosslake Fibre (Canada), an international network service provider (NSP) launched its 'CrossChannel' submarine cable, which is ready for service (RFS). The 96fiber pair cable supports data transmission capacity of over 2,400 Tbps. The 550 km system has a 149 km submarine segment and is designed to be physically diverse of the existing fiber infrastructure. The new cable supports increased traffic data from the internet of things (IoT), cloud, and video content. The new fiber connects Paris, France with Slough, UK. Such significant investments will fuel the France fiber optics market growth over the forecast period.
The global fiber optics industry size was valued at USD 4.9 billion in 2022 and is projected to reach USD 8.2 billion by 2027, growing at a cagr 10.9% from 2022 to 2027.
North America's Fiber Optics Industry is one of the world's leading markets, due to growing demand for high-speed internet and data transmission. The United States is a largest customer of fibre optic technology, with many telecommunications and technology companies investing in fibre optic networks. The increasing adoption for fibre optics in various end-user industries such as healthcare, defence, and others is also propelling the region's industry forward. The rise of smart cities, in addition to the increasing adoption of IoT technology, is going to drive up demand for fibre optics in North America. Furthermore, government initiatives to improve telecommunications infrastructure, as well as rising demand for data centers computing, are spurring growth in the industry.
Top 5 Key Market Players in Fiber Optics companies:
Corning Incorporated (US)
Prysmian Group (Italy)
Sumitomo Electric Industries, Ltd. (Japan)
Yangtze Optical Fibre and Cable Joint Stock Limited Company (China)
Fujikura Ltd. (Japan)