Selbyville, Delaware, April 12, 2023 (GLOBE NEWSWIRE) — As per the report published by Global Market Insights Inc., the Global Optical Waveguide Market was estimated at USD 5 billion in 2022 and is expected to surpass a valuation of $15 billion by 2032, progressing at a CAGR of 10% from 2023 to 2032. The report provides a detailed analysis of top winning strategies, drivers & opportunities, competitive scenario, wavering market trends, market size, statistics & estimations, and major investment pockets.
One of the main factors impelling the optical waveguide business is the mounting utilization of electronic gadgets. The rapid amount of data flow has presented increased data traffic, which has proliferated the need for optical waveguides in high bandwidth applications including the prevalent smart devices. This is necessitating faster and higher bandwidth connections, such as FFTN, FTTH, and FTTC that carry data using optical fiber lines.
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Long-distance coverage to accelerate single-mode waveguide segment growth
With respect to mode structure, the single mode segment was valued at over USD 1 billion in 2022. The soaring popularity of optical networks, global uptake of 5G connectivity, and notable innovations in network infrastructure are projected to propel segment uptake. Furthermore, its growing telecom networking applications due to faster and farther signal transmission in comparison to multi-mode waveguides is also driving product adoption. In a recent study, single-mode propagation for silicon insulator waveguide showcased a range of 1.95 µm.
Key reasons for optical waveguide market growth:
- Technological advancements in photonic integrated circuits.
- Rising number of data centers worldwide.
- Rise in adoption of electronic devices.
- Growing demand for high bandwidth.
Affordability and efficient bandwidth to increase step-index fiber industry share
In 2022, the step-index fiber segment held more than 40% share of the optical waveguide market propelled by several benefits, including easy manufacturing, low price, and less attenuation of these waveguides. It also has a larger bandwidth and can efficiently run over a longer distance without repeaters. In addition, positive traction from the aerospace & defense sector due to its effective data transmission and affordability is fueling the business expansion.
Wide applicability in modern communication to push semiconductor segment development
Based on material, the semiconductor segment is slated to progress at over 15% CAGR from 2023 to 2032. Semiconductor-based optical waveguides are easy to produce and offer promising design freedom. The optical waveguides made with semiconductors have high light transmission efficiency, minimum signal loss, no electromagnetic emissions or disturbances, and lower bit error rates. These properties make them suitable for high-speed mixed signals used in reliable modern communication.
Ability to analyze small & compact components to augment manufacturing segment outlook
The optical waveguide market size from the manufacturing segment is estimated to exceed a valuation of USD 2 billion by 2032 as a result of the ability of optical waveguides to make sharp bends, which makes it possible to define and analyze small, compact components. This method improves measuring precision and accuracy while also cutting down on measurement time, better than the currently used conventional approaches. Moreover, the recent demand for high-speed internet for connected equipment and a growing need for data centers is further influencing segment progress.
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Favorable partnership among regional investors to boost Europe industry trends
Europe optical waveguide market is anticipated to account for over 25% of the overall industry revenue by 2032. The adoption of electronic devices, the development of next-generation technologies, significant consumer awareness, and the booming telecom sector in the region are presenting potential chances for market growth.
Strategic partnerships with end-use industry players to remain a chief expansion strategy
Corning Incorporated, Commscope, Prysmian Group S.p.A., Fujikura ltd, Sumitomo electric industries ltd., and others are some prominent firms in the sector. The competitive landscape of the optical waveguide market is foreseen to witness a series of product R&D and portfolio expansion tactics by industry players.
Partial chapters of report table of contents (TOC):
Chapter 3 Optical Waveguide Market Insights
3.1 Covid-19 impact
3.2 Russia- Ukraine war impact
3.3 Industry ecosystem analysis
3.4 Pricing analysis
3.5 Technology & innovation landscape
3.6 Patent analysis
3.7 Key news and initiatives
3.8 Regulatory landscape
3.9 Impact forces
3.10 Growth potential analysis
3.11 Porter’s analysis
3.12 PESTEL analysis
Chapter 4 Competitive Landscape, 2022
4.2 Company market share, 2022
4.3 Competitive analysis of key market players, 2022
4.4 Competitive analysis of innovative market players, 2022
4.5 Competitive positioning matrix, 2022
4.6 Strategic outlook matrix, 2022
Chapter 5 Optical Waveguide Market, By Type
5.1 Key trends, by type
5.3 Channel waveguide
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.