Lit Fiber Market Share

North American Market Forecast

The lit fiber market in the North American region is likely to rise at a share of 30% in the future. The growth is being driven by increased network management, mobile data, internet service penetration, customer preference for 5G network services, and the need for improved communication. The region's excellent infrastructure makes it easier to build lit fiber cables across North America. The Fiber Broadband Association (FBA) has released a new study indicating that more than 60 million US homes are already supplied by fiber as of 2022, up 12% from about 54 million in 2020. Therefore, the market for lit fiber will develop in the area in the upcoming years due to the increasing use of broadband.

APAC Market Statistics

Lit fiber market in the Asia Pacific region is intended to attain a share of about 27% during the projected period. This region's growth is fueled by rapid technological developments and widespread use of technology in the administrative, telecommunications, and information technology sectors.  Lit fiber cables are being used more often in India to transfer signals with less loss.

Additionally, the government is investing more money in the advancement of telecommunications services. In the Union Budget 2021-22, the Indian government allotted USD 1.9 Billion for telecom infrastructure. This includes building a fiber cable-based network for defense services, improving mobile services in the Northeast, and installing broadband in 2.2 lakh village counsils.