Global Optical Waveguide Market Report 2023: Technological Advancements in Photonic Integrated Circuits (PICs) Fuel Growth

DUBLIN, May 24, 2023 /PRNewswire/ -- The "Global Optical Waveguide Market by Type (Planar, Channel), Material (Glass, Polymer, Semiconductor), Propagation (Single-mode, Multi-mode), Refractive Index (Step-index, Graded-index), Interconnect Level, End-user Industry and Region - Forecast to 2028" report has been added to  ResearchAndMarkets.com's offering.

The Optical Waveguide Market is projected to grow from USD 6.6 billion in 2023 and is projected to reach USD 9.5 billion by 2028; it is expected to grow at a CAGR of 7.3% from 2023 to 2028.

The growth of this market is driven by factors such as technological advancements in photonic integrated circuits (PICs), the rising number of data centers worldwide, and surging demand for high bandwidth.

The chip-and board-level optical interconnect segment is projected to grow at a high CAGR during the forecast period.

The chip-and board-level optical interconnect segment is projected to grow at a high CAGR during the forecast period. The increasing requirement for co-packaged optics, processors, and optical transceivers with low power consumption and high data transmission rates drives the market growth.

The increased popularity of parallel computing and the arrival of multicore processors and 3D chips are creating an increased demand for chip-and-board-level optical interconnects. They are becoming crucial to cope with various end-use industries' high computing speed requirements.

North America will be one of the fastest-growing regions in the optical waveguide market during the forecast period

North America is expected to be one of the fastest-growing regions in the optical waveguide market during the forecast period. The proliferation of data center facilities across the US, Canada, and Mexico is expected to boost the optical waveguide market in the region. The data centers are extensively integrated with optical waveguide components such as transceivers, connectors, optical fibers, and amplifiers.

These components help to interconnect two or more data center facilities located over a long distance and transfer large volumes of data with high data transmission speeds. According to Data Center Map, the number of colocation data centers in the US accounted for 1,851 across 50 states, of which 239 were in California, 187 facilities in Texas, and 112 facilities in Florida. The increasing deployment of newer data centers in the region will fuel the optical waveguide market growth during the forecast period.

Market Dynamics

Drivers

• Rising Number of Data Centers Worldwide
• Technological Advancements in Photonic Integrated Circuits (PICs)
• Surging Demand for High Bandwidth

Restraints

• Issues Associated with Designing and Fabricating Optical Waveguides

Opportunities

• Growing Deployment of 5G Telecommunication Networks
• Rising Investments in Augmented/Mixed Reality (AR/MR) Market

Challenges

• Challenges Associated while Embedding Optical Waveguide Components into Small Circuits

Case Study Analysis

• Aim Photonics and Spark Photonics Teamed Up to Develop Hands-On Educational Photonic Integrated Circuit (Pic) Chip
• Alma Telecom Upgraded Its Network Using Fttp Solution Offered by Corning Incorporated
• Commscope Helped E-Fiber Commercialize Fttx Networks in the Netherlands

Companies Mentioned

• Aksh Optifibre
• Art Photonics GmbH
• Asahi Kasei Corporation
• Auxora (Shenzhen), Inc.
• Belden Inc.
• Birla Cable Ltd.
• Cable Joint Stock Limited Company (Yofc)
• Coherent Corp. (Former II-VI Incorporated)
• Commscope Holding Company, Inc.
• Corning Incorporated
• Covesion Ltd.
• Digilens Inc.
• Fujikura Ltd.
• Furukawa Electric Co. Ltd.
• HC Photonics Corp.
• Hfcl
• Holographix LLC
• Ls Cable & System Ltd.
• Mitsubishi Chemical Group Corporation
• Optical Cable Corporation
• Orbis Oy
• Prysmian Group
• Quinstar Technology, Inc.
• Rpg Cables (Division of Kec International Limited)
• Sterlite Technologies Limited
• Sumitomo Electric Industries, Ltd.
• Teem Photonics
• Yangtze Optical Fibre

For more information about this report visit https://www.researchandmarkets.com/r/kio1b9

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