Asia Pacific Patch Cable Market Forecast 2019-2028
The Asia Pacific patch cable market is anticipated to grow with a CAGR of 8.57%, over the forecast years of 2019 to 2028. The growing demands for internet in developing economies, and the surging awareness associated with the benefits of technology are influential in promoting the region's market growth.
The Asia Pacific patch cable market growth is evaluated by assessing Japan, China, Vietnam, Australia & New Zealand, South Korea, Thailand, Indonesia, India, and the rest of the Asia Pacific. India's economy is predicted to grow significantly, as networking enterprises propose establishing their infrastructure in the country. They are also encouraged by numerous initiatives announced by the government like, Make in India and Digital India. Such programs are likely to generate a massive amount of data, projected to fuel the region's optical fiber market. Likewise, the optical fiber market is witnessing a growing trend, owing to the demand from diverse sectors, such as IT and telecom, BFSI, and manufacturing. Moreover, several e-governance initiatives introduced by the state and central governments further drive the networking and connectivity division.
India's market is also led by the government's growing investments in OFC network infrastructure, to increase internet penetration. These investments align with national initiatives like Digital India and Smart Cities Vision. Likewise, the high demand for OFC from the IT and telecom sector, the increasing adoption of FTTH connectivity, the growing number of mobile devices and data centers, are anticipated to bolster the optical fiber cables market. Hence, these factors are expected to drive the market growth, over the forecast period.
Key enterprises operating in the market include, Otscable, Comnen, General Cable (Prysmian Group), Major Custom Cable, Black Box Corporation, etc.
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