Optical Waveguide Market Set to Grow at the Fastest Rate- Time to Grow your Revenue

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), growing deployment of 5G telecommunication networks, and surging demand for high bandwidth.

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Developments in optical waveguide fabrication processes such as lithography, microreplication, and photo-addressed method has created new revenue streams for the players in the optical waveguide ecosystem. Lithography is a photon-based technique that includes projecting an image into a photosensitive emulsion, i.e., photoresist, which is coated onto a substrate such as a silicon wafer. This technique is used for the fabrication of photonic circuits and circuit elements. Photonic integrated circuits use photons as a medium of transmission instead of electrons. These ICs consist of circuit elements, including waveguides, attenuators, lenses, switches, and wavelength filters. Photonic circuit elements are constructed from optical materials, including silicon, silica, III-V and II-VI semiconductors, and organic polymers. Lithography fabrication uses a complementary metal oxide semiconductor (CMOS) fabrication platform to develop waveguides using these optical materials. The CMOS fabrication processes include spin coating, sputtering, and chemical vapor deposition (CVD), while subtractive processes include focused-ion-beam milling and chemical etching. Various lithography methods such as multiphoton, nanosphere, nanoimprint lithography, and interferometric lithography are used to generate high-quality micro and nanostructures for optical waveguides.

The market for multi-mode segment is expected to grow at a significant during the forecast period. Multi-mode waveguides have less maintenance and consume less power. The primary advantage of multi-mode includes the capability of operating with substantial optical power over moderate distances with cost-effective nature. Also, the relatively large dimensions improve tolerances with-to-respect-to-end effects and optical interconnections. Most multi-mode propagation uses a plastic material, which offers cost-effective performance similar to glass cores for short distances. They are developed based on step-index profiles or graded index profiles, which makes them a preferred choice for deployment in enterprises, data centers, and LAN applications.

The data center & high-performance computing segment will grow at a faster rate in optical waveguide market during the forecast period. Optical waveguide offers high-speed data transfer, quality, and performance advantage in data center networks. It helps transmit data over longer distances; also provides immunity to electromagnetic interference, which helps in accurate data transmission between two points. Optical waveguides help achieve high-speed data transmission with low power consumption, low data losses, and high accuracy across high-performance computing and data center solutions. These benefits drive the optical waveguide-based solutions across the data center & high-performance computing segment.

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In terms of geographic coverage, the optical waveguide market has been segmented into four regions, namely, North America, Europe, Asia Pacific and Rest of the World (RoW). The market in Asia Pacific is expected to record the highest growth rate during the forecast period. The growth is attributed to the presence of prominent optical waveguide market players in the region such as Fujikura Ltd. (Japan), Furukawa Electric Co., Ltd. (Japan), and Sumitomo Electric Industries, Ltd. (Japan). These players are extensively focusing on expansion of their manufacturing facilities to stay competitive in the market. For instance, in October 2022, Fujikura Ltd. (Japan) has announced to build a new optical fiber production plant at Sakura Works (Sakura City, Chiba). With this expansion, the company aims to increase the production of its optical fiber with 12-fiber spider web ribbons by about 30%. The new plant is scheduled to begin operation in 2025. Such significant investments will foster the optical waveguide market growth over the forecast timeframe.

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