The global optical waveguides market is expected to grow at a significant CAGR during the forecast period (2021-2027). An optical waveguide is a physical structure that aids in the transmission of electromagnetic waves in the optical spectrum. Optical waveguides come in a variety of shapes and sizes, including optical fibre, transparent dielectric waveguides constructed of glass, and plastic waveguides. The extraordinary rise in the use of electronic devices is projected to have an impact on the global optical waveguide market.
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Optical waveguides are important components in photonic devices that perform tasks such as demultiplexing and multiplexing optical signals, as well as splitting, switching, coupling, and directing them. Driving electronics, receivers, transmitters, electrooptic components, and passive wavelengths are all combined onto one chip using planar technology. Biocompatibility, electromagnetic noise resistance, dispersed sensing capability, and high bandwidth are the advantages provided by optical waveguides. All of these factors are expected to boost the global optical waveguide market in the coming years.
The global optical waveguide market is primarily driven by the increased use of electronic devices, as well as the increased pace of data traffic and massive volume of data flow. The rising popularity of the internet, combined with the desire for low power usage, is expected to drive demand for the product shortly. In addition, the introduction and growing popularity of high-speed cloud computing solutions is expected to be a significant growth driver for the global optical waveguide market during the forecast period.
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Owing to the increasing usage of electronic devices, data traffic, data centre handling of large amounts of data generated, and high-speed cloud computing, the global optical waveguide market is experiencing the most rapid expansion. Furthermore, increased internet connectivity, bandwidth need, and low power consumption are some of the reasons that are expected to boost optical waveguide demand over the forecast period. However, high installation costs for optical waveguides in data communication sectors like data centres, as well as the tardy introduction of various optical waveguide-related technologies, may limit the market’s growth.
Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered
- Regions Covered- Globally
- Competitive Landscape: Sumitomo Bakelite Co. Ltd., Waveguide Optical Technologies, DigiLens, Inc., Himachal Futuristic Communications Ltd., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Optical Waveguides Market by Segment
By Type
- Planar Waveguide
- Channel Waveguide
By Application
- Tablet PC
- Inspection Devices
- Super High Vision
- Medical Equipment
- Aircraft & Automobiles
- Others (Printers, High-performance Server, Computing, Router)
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