[Latest] Optical Waveguide Market Size and Growing Strategies 2023: Developing Trends and Insights by 2032
Polaris Market Research has recently released research report titled Optical Waveguide Market: By Size, Trends, Share, Growth, Segments, Industry Analysis and Forecast, 2032 that examines both current and future market trends related to products and services in the Optical Waveguide Market. This analytical study provides an overview of the market, including its definition, outlook, various segmentations, and other related factors that fall within its purview. The report provides estimates of the Optical Waveguide Market size, share, recent trends, potential sales volume, and key segments within the market. Key participants can benefit from the in-depth study of this report, as it offers valuable insights for establishing a strong presence in the industry.
According to the research report, the global optical waveguide market was valued at USD 5,566.38 million in 2022 and is expected to reach USD 11,434.98 million by 2032, to grow at a CAGR of 7.50% during the forecast period.
Optical waveguides have been widely employed in communication, illumination, and sensing. They have recently drawn more interest in biological applications. In July 2022, researchers at the Vrije Universiteit Amsterdam created an optical fiber micro-endoscope to study the effects of neurological illnesses like Alzheimer’s. An acupuncture needle may readily accommodate the ultra-thin multi-mode fiber optic-based micro-endoscope, which enables real-time imaging of deep tissues.
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Waveguides are the main technology that has made augmented visualization possible in AR/MR. As new technologies are introduced, the market for AR is expanding. For instance, in January 2023, VividQ & Dispelix announced that they are working on a new technology in AR that can display objects with a variable depth of field. This could enhance gaming with transparent augmented reality glasses. The company’s “3D Waveguide Combiner” and software produce convincing augmented reality by fusing natural and artificial light.
Top Key Players:
- Waveguide Optical Technologies
- HFCL Limited
- Corning Incorporated
- Sumitomo Electric Industries Ltd.
- Yangtze Optical Fibre
- LEONI AG
- Fujikura Ltd.
- Sterlite Technologies Limited.
- FURUKAWA ELECTRIC CO. LTD.
- Prysmian Group
- Finisar Corporation
- DigiLens Inc
Due to their large bandwidth and long-distance capabilities, optical waveguides, especially single-mode waveguides, are ideally suited for telecommunications applications. Additionally, technological advancements in optical waveguide technology have improved the performance and reliability of optical waveguides. This is fueling market expansion. For instance, in January 2023, researchers at the University of Bath, UK, fabricated a novel fiber type to increase network resilience. Using topological mathematics, the team has created optical fibers that can shield light. The structure of each changed fiber may be maintained for hundreds of kilometers, which is the best part about these modified fibers.
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Optical Waveguide Market Report Highlights
- Channel segment held the dominant position in global market in 2022, owing to its advantage of low propagation loss.
- The polymer-based segment is expected to grow exhibit the fastest growth during the forecast period. This can be attributed to their wide application in broadband communication.
- Graded index segment held the largest market share. It has larger dimension which removes the limitation of single-mode devices.
- Data center segment is anticipated to exhibit fastest CAGR during the forecast period. Increasing demand for high speed and high bandwidth connections in data center is the reason for this demand.
- Asia-Pacific is expected to grow at a high CAGR over the projected period on account of rising demand for high-speed networks from different industries in this region.
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Polaris Market Research has segmented the Optical Waveguide Market report based on type, material, propagation, refractive index, interconnect level, end-user and region:
Optical Waveguide Market, Type Outlook (Revenue – USD Million, 2019 – 2032)
- Planar Waveguide
- Channel Waveguide
Optical Waveguide Market, Material Outlook (Revenue – USD Million, 2019 – 2032)
- Glass
- Polymer
- Semiconductor
Optical Waveguide Market, Propagation Outlook (Revenue – USD Million, 2019 – 2032)
- Multi-Vendor Environment
- Single Mode
- Multi-Mode
Optical Waveguide Market, Refractive Index Outlook (Revenue – USD Million, 2019 – 2032)
- Step-Index
- Graded-Index
Optical Waveguide Market, Interconnect Level Outlook (Revenue – USD Million, 2019 – 2032)
- Metro and Long-haul Optical Interconnect
- Board-to-board and Rack-level Optical Interconnect
- Chip- and Board-level Optical Interconnect
Optical Waveguide Market, End-user Outlook (Revenue – USD Million, 2019 – 2032)
- Telecommunication
- Data Center & High-Performance Computing (HPC)
- Medical
- Metrology
- Aerospace & Defense
- Consumer Electronics
- Industrial
- Others
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