Optical Waveguide Market size to surpass $15 Bn by 2032

Optical Waveguide Market size is anticipated to reach more than USD 15 billion in revenue by 2032, according to a recent research report announced by Global Market Insights Inc.
 

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.
 

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.
 

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.
 

Browse key industry insights spread across 250 pages with 318 market data tables and 33 figures & charts from the report “Optical Waveguide Market Size By Type (Planar, Channel), By Refractive Index (Step-index, Graded Index), By Mode Structure (Single Mode, Multi-Mode), By Material (Glass, Polymer, Silicon, Semiconductor, Others), By End-Use (BFSI, Telecommunication, Submarine, Aerospace & Defense, Consumer Electronics, Manufacturing, Healthcare, Oil and Gas, Others), COVID-19 Impact Analysis, Growth Potential, Regional Outlook, Competitive Market Share & Forecast, 2023 – 2032”., in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/optical-waveguide-market
 

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.
 

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.