The global active optical cable market is prognosticated to reach a value of US$ 15.21 Bn by the end of 2031, states a study by Transparency Market Research (TMR). Furthermore, the assessment by TMR notes that the market for active optical cable is estimated to expand at a CAGR of 7.6% during the forecast period, from 2022 to 2031.
Major active optical cable manufacturers across the globe are focusing on the development of technologically advanced products. Hence, they are seen investing sizable amounts in R&Ds. Furthermore, a rise in the focus of enterprises on launch of next-gen products as per the requirements of end-users is boosting the growth rate of the active optical cable market, notes a TMR study.
The demand for fast speed of communication and image & sound resolution is being increasing in the recent years globally. Thus, this situation has led to rising need for high-speed transmission across a broad range of industries including the BFSI, retail, IT & telecommunication, and consumer electronics in the recent years. This factor is expected to drive the sales growth in the global active optical cable market during the forecast period, note analysts of a TMR study.
Due to limitations of traditional copper cables in the transmission of swift speed and length together with excessive EMI interference affecting the operation of medical equipment and machine tools, the demand for advanced solutions such as active optical cables is being rising in the recent years across the globe, notes a TMR outlook. One of the benefits of active optical cables includes their ability to offer dependable high-speed data between point-of-sale (POS) systems and varied peripherals such as scanners display & touch screens, printers, and credit-debit card terminals connected in distant locations in a commercial space. Hence, rising product adoption owing to its varied benefits is resulting into profitable prospects in the global active optical cable market, according to an assessment by TMR. PR Newswire