According to TechSci Research report, “India Optical Fiber Cables Market By Type, By Material, By End User, Competition Forecast & Opportunities, 2014 – 2024’’, optical fiber cables (OFC) market in India is forecast to grow at a CAGR of 19.7% during 2020-2024. Large nationwide projects, including Digital India, National Fiber Spectrum and National Optical Fiber Network; rising internet penetration, and surging number of smartphone users are some of the key factors driving India OFC market. Moreover, increasing popularity of cloud computing services, such as Software-as-a-Service and Infrastructure-as-a-Service, and rising adoption of OFC for FTTH connectivity are further expected to propel demand for optical fiber cables in India.
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Surging deployment of OFC network by IT & telecom companies, led by state-owned Bharat Sanchar Nigam Limited (BSNL) and RailTel, in addition to increasing investments by companies in data centers to offer seamless internet connectivity and transmission of digital information, is expected to aid India OFC market during forecast period. Among types, single-mode optical fiber cables are dominate the market backed by increasing number of internet-enabled devices and growing demand from IT & telecom and government sectors. Sterlite Technologies Limited, Himachal Futuristic Communications Ltd., Aksh OptiFiber Limited, Finolex Cables Limited, Birla Cables Limited are some of the major companies operating in India OFC market.
“OFC is gaining popularity across India, with leading IT & telecom companies and MSO (Multiple System Operator) companies demanding OFC for improving internet connectivity, mitigating data loss, offering FTTH connectivity and expanding their customer base. In addition, Smart Cities Vision and rising popularity of cloud computing services in the country are expected to play a major role in driving adoption of OFC in India, thereby transforming India into a high potential market for OFC companies.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
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“India Optical Fiber Cables Market By Type, By Material, By End User, Competition Forecast & Opportunities, 2014 – 2024” has evaluated the future growth potential of India optical fiber cables market and provides statistics and information on market size, structure and future market growth. The report offers decision makers superior market intelligence, thereby enabling them conduct thorough investment appraisal. Besides, the report also analyzes the evolving market scenario along with drivers, challenges and opportunities prevalent in India OFC market.
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