Optical Waveguide Market Size share value Trends and Growth Drivers [2023-2028]
Chicago, Oct. 10, 2023 (GLOBE NEWSWIRE) — The Optical Waveguide Market Size is expected to reach USD 9.5 billion by 2028 from USD 6.6 billion in 2023; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.3% from 2023 to 2028. The optical waveguide companies such as Corning Incorporated (US), Sumitomo Electric Industries, Ltd. (Japan), Yangtze Optical Fibre and Cable Joint Stock Limited Company (YOFC) (China), Fujikura Ltd. (Japan), Prysmian Group (Italy), Furukawa Electric Co., Ltd. (Japan), Coherent Corp. (US), CommScope (US), Sterlite Technologies Limited (India), and DigiLens Inc. (US).
Dowload PDF Brochure :
Optical Waveguide Market Size Dynamics
Driver : Technological advancements in photonic integrated circuits (PICs)
A photonic integrated circuit (PIC) is a chip that contains photonic components, which works on the principle of data transmission through photons or light. In PICs, photons travel through optical components such as waveguides, polarizers, and phase shifters, which are equivalent to resistors, transistors, capacitors, and electrical wires. PICs offer high-end features such as miniature footprints, low-loss transmission, large bandwidth, freedom from electric short circuits, and immunity from electromagnetic interference (EMI).
Restraint: Issues associated with designing and fabricating optical waveguides
The major factor restraining the adoption of optical waveguides is issues faced in the design and fabrication process. The designing of optical waveguides requires expertise in physics and engineering as they are designed to meet unique requirements and mainly rely on a specific set of waveguide transmission protocols. The optical waveguides are fragile, expensive, and prone to transmission losses. They are tested and manufactured with the help of customized equipment and require significant capital investment.
Opportunity : Rising investments in augmented/mixed reality (AR/MR) market
Investments in the augmented/mixed reality (AR/MR) market have witnessed massive growth over the past few years. Companies such as Intel Corporation (US), Meta Platforms, Inc. (US), Qualcomm, Inc. (US), Alphabet, Inc. (US), and Samsung Electronics Co., Ltd (South Korea) are heavily investing in AR/MR market. These players are extensively investing in the development of near-eye devices (NEDs) such as smart glasses and head-up displays. In near-eye devices (NEDs), the optical waveguides help bend and combine light to direct it into the eye and create virtual images, which can be observed by the wearer and are overlaid onto the environment. They propagate a light field via the mechanism of total internal reflection, bouncing light between the inner and outer edges of the waveguide layer with minimal light leakage.
Challenge: Challenges associated while embedding optical waveguide components into small circuits
Challenges associated while embedding optical waveguide components into small circuits are expected to impact the market growth. Implanting different waveguide components into nanometer (nm) sized integrated circuits is a critical task. Also, due to the thermal effect, it is a big challenge to embed these components at a nanometer scale. Optical/photonic devices are susceptible to waveguide dimensions, requiring nanometer-scale control over a full wafer and having a considerable variation in a refractive index. It is possible to overcome this challenge with active tuning and temperature control, but this can severely impact the power consumption of the optical links. Thus, embedding waveguide components into smaller circuits pose a major challenge to the growth of the optical waveguide market.
“Browse in-depth TOC on “Optical Waveguide Market Size, share, value, Trends, Growth Drivers“
181 – Tables
78 – Figures
285 – Pages
REQUEST SAMPLE :-
Optical Waveguide Companies – Corning Incorporated (US) and Sumitomo Electric Industries, Ltd. (Japan) are the Key Players
Corning Incorporated (US) is one of the leading manufacturers of specialty glass, ceramics, and optical products. The company offers a wide range of products to the aerospace & defense, consumer electronics, life sciences, architecture & design, communications, automotive, and optics industries. The company has a strong patent portfolio with over 12,150 patents worldwide, of which 4,350 US patents. In addition, Corning Incorporated (US) had 9,050 patent applications in the process as of December 2021. In 2021, Corning was granted over 420 patents in the US and over 1,600 patents in countries outside the US. The company has an operational presence in 44 countries across the world. It has strong manufacturing capabilities with 119 manufacturing plants and processing facilities, ~32% of which are in the US. Corning Incorporated has customers in North America, Asia Pacific, Europe, Latin America, and the Middle East & South Africa.
Sumitomo Electric Industries, Ltd. (Japan) is among the leading suppliers of optical components, fiber optic cables, and supporting equipment. Sumitomo Electric Industries, Ltd. operates about 415 subsidiaries across the world. It has a major presence across Japan, Asia, North America, Latin America, and Europe. The company offers solutions which are targeted for Fiber to the Home (FTTH), Fiber to the Building (FTTB), and Fiber to the Premises (FTTP) applications. The company promotes constant development through intellectual property (IP) activities and reinforces its competitive edge in the global market. As of March 2022, the company had 26,662 patents, utility models, and design rights worldwide, of which 12,433 are in Japan, and 14229 are overseas. The Information & Communications business segment accounted for 2,541 and 3,207 IPs in Japan and overseas, respectively.
Fiber Optics Market by Fiber Type (Glass, Plastic), Cable Type (Single-mode, Multi-mode), Deployment (Underground, Underwater, Aerial), Application, and Region (North America, Europe, APAC, Rest of the World) – Global Forecast to 2027
CONTACT: About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: [email protected]
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. AfternoonHeadlines.com takes no editorial responsibility for the same.