High-internet traffic congestion and surge in demand for higher bandwidth is expected to drive the global waveguide optical products market through 2026
According to TechSci Research report, “Optical Waveguide Product Market - Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2016-2026”, the global waveguide optical products market is expected to grow at steady rate during the forecast period. High-end investments and rise in demand of the telecommunication industry due to increase in subscriber base, enhanced internet connectivity and surge in demand of IoT devices is driving the global waveguide optical products market.
High bandwidth requirements, bulk data generation by plethora of data centers established around the globe and increase in internet traffic data congestion are the other factors influencing the global waveguide optical products market growth.
However, technological advancements implementation sluggishness and high cost for installation of data centers may hinder the market growth in the coming next five years.
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Global optical waveguide product market is segmented based on type, material type, fabrication process, optical interconnection, application, and region. Based on type market is divided into planar waveguide and channel waveguide. Planar segment is to register highest growth in terms of revenue due to increase in use of sensing applications. In terms of application, market is bifurcate into IT & telecommunication, defense, BFSI, oil & gas, industrial, medical and others. Medical segment is to witness highest growth due to the rising demand in health monitoring, diagnosis, and therapy. Based on optical interconnection market is categorized by board-to-board optical interconnection, optical backplane, on-chip optical interconnection, interboard, chip-to-chip optical interconnection, and others.
On-chip interconnection will play a major role to drive the global waveguide optical products market based on high carrier frequency, less power consumption and attenuation. According to regional analysis, North America is leading the global waveguide product market due to presence of key players in the region and huge investments in the telecom industry. Europe and Asia-pacific is also expected to register significant growth during the forecast period depending on the government initiatives, rising consumer awareness and higher internet penetration.
Waveguide Optical Technologies LLC, Himachal Futuristic Communications Ltd., Leoni, Fiber Optics GmbH, Yangtze Optical Fiber and Cable Co. Ltd., Fujikura Limited, Sumitomo Bakelite Co., Ltd., DigiLens, Inc., Corning Incorporated, Prysmian S.p.A., Sterlite Technologies Limited and others are some of the leading players operating in global waveguide optical products market. Companies operating in the market are using strategies such as joint ventures, product launches, mergers, and research collaborations to boost their share and increase their geographic reach.
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“Emerging of the video technology and the rising need for higher quality video streaming and wider bandwidth is driving the growth of the global waveguide optical products market. Demand for communication and residential appliances owing to higher living standards is propelling the global waveguide product market growth.
Long-term evolution and LTE-Advanced technology implementation in addition of roll-out of 5G technology will further boost the market growth till 2026 ” said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.
“Optical Waveguide Product Market - Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2016-2026 Segmented By Type (Planar Waveguide, Channel Waveguide), By Material Type (Semiconductor Waveguides, Electro-optic Waveguides, Glass Waveguides, Silicon Waveguides, Polymers Waveguides, Others), By Fabrication Process (Lithography Method, Microreplication Method, and Photo-Address Method), By Optical Interconnection (Board-To-Board Optical Interconnection, Optical Backplane, On-Chip Optical Interconnection, Interboard, Chip-To-Chip Optical Interconnection, and Others), By Application (IT & Telecommunication, Defense, BFSI, Oil & Gas, Industrial, Medical, Others), By Region”, has evaluated the future growth potential of global waveguide optical products market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global waveguide optical products market.
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