According to a new report, published by KBV research, The Global Fiber Management Systems Market size is expected to reach $6.3 billion by 2028, rising at a market growth of 10.1% CAGR during the forecast period.
The Telecommunications market acquired the maximum revenue in the Global Fiber Management Systems Market by Application in 2021, thereby, achieving a market value of $2.2 billion by 2028. This is due to the industry's rapid expansion and increased usage of data centers, consumer electronics, and IoT devices powered by AI. The extensive use of fiber optic cabling for telecommunications applications is due to various strong factors, including significantly lower degrees of attenuation of the signal. More data can be transferred due to the substantially greater bandwidth provided by fiber optic connections.
The Fiber Cassette market is showcasing a CAGR of 10.2% during (2022 - 2028). The growth is attributed to the increasingly used of data centers, storage area networks, and local area network environments to create 40G and 100G networks in response to the increased need for greater data transfer speeds. Fiber cassettes reduce cable management's complexity while also saving the workforce time and money. The benefits associated with fiber cassettes will boost the segment's growth.
The Asia Pacific market dominated the Global Fiber Management Systems Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2.3 billion by 2028. The Europe market is anticipated to grow at a CAGR of 9.8% during (2022 - 2028). Additionally, The North America market would witness a CAGR of 9.4% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/fiber-management-systems-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 3M Company, Eaton Corporation PLC, Corning Incorporated, Belden, Inc., HUBER+SUHNER AG, Molex, LLC (Koch Industries, Inc.), Phoenix Contact GmbH & Co. KG, RackOm System, Santron Electronics, and Panduit Corporation.
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