New York, Oct. 06, 2023 (GLOBE NEWSWIRE) -- As per the research report “Global Electro-Optic Modulator Market” published by Consegic Business Intelligence, the market was worth USD 21.84 Billion in 2022, projected to grow by USD 22.94 Billion in 2023, and is anticipated to reach over USD 39.42 Billion by the year 2031, growing at a CAGR of 7.0%.
Electro-optic modulators are devices that are designed for controlling the power, phase, or polarization of light by utilizing an electrical control signal. The characteristics of electro-optic modulator including low dielectric loss tangent, high optical quality and transmission, low dielectric constant, high-speed data transmission, and others make it ideal for utilization in IT & telecommunication, military & defense, laser printing, and other sectors.
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The increasing utilization of electro-optic modulator in IT & telecommunication industry is among the key factors driving the market growth. Additionally, the growing demand for wireless communication, increasing need for high-speed communication and data transfer solutions, and rising penetration of 5G networks are vital factors driving the adoption of electro-optic modulators. For instance, according to the GSM Association, total 5G connections in China is estimated to reach up to 1.6 billion by 2030, representing a third of the global total. Hence, the increasing penetration of 5G connections is driving the utilization of electro-optic modulators in telecommunication base stations and fiber optic communication systems, thereby, driving the growth of the market.
Additionally, the rising investments in the development of data centers is projected to promote potential opportunities for the growth of the electro-optic modulator market. Electro-optic modulators are often utilized in data centers in in fiber optic systems for transmitting data at high speeds over long distances. Moreover, the benefits of electro-optic modulators including low power consumption, high-speed data transmission, and high bandwidth are primary determinants for increasing its utilization in data centers. However, limitations and operational challenges associated with electro-optic modulators are constraining the growth of the market.
| Report Attributes | Report Details |
| Market Size By 2031 | USD 39.42 Billion |
| Forecast Period | 2023-2031 |
| CAGR (2023-2031) | 7.0% |
| Base Year | 2022 |
| Study Timeline | 2017-2031 |
| Key Players | Thorlabs Inc., Coherent Corp., APE GmbH, Lightwave Logic Inc., Newport Corporation, Conoptics Inc., QUBIG GMBH, Versawave Technologies Inc., IXBlue, Hamamatsu Photonics K.K. |
| By Type | Polarization Modulator, Amplitude/Intensity Modulator, Phase Modulator, and Others |
| By End-User | IT & Telecommunication, Military & Defense, Laser Printing, and Others |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more |
| By Region | North America, Europe, Asia-Pacific, Latin America, Middle East & Africa |
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Electro-Optic Modulator Market Growth Drivers:
- Rising utilization of electro-optic modulator in IT & telecommunication industry is driving the market growth.
- Growing military & defense sector is spurring the market growth.
Restraints
- Limitations and operational challenges associated with electro-optic modulators are restraining the market growth.
Opportunities
- Rising investments in data centers is expected to promote potential opportunities for market growth.
Global Electro-Optic Modulator Market Segmentation Details:
Based on type, the polarization modulator segment contributed the largest shares to the market growth in 2022. The benefits of polarization modulators including high bandwidth, high-speed data transmission, low power consumption, and higher modulation speed are key aspects driving the growth of the segment. Further, the increasing utilization of polarization modulators in IT & telecommunication, and others sectors is driving the growth of the polarization modulator segment.
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Based on end-user, the IT & telecommunication segment accounted for the maximum revenue share in the year 2022. Electro-optic modulators are primarily used in the IT & telecommunication sector for application in fiber optic communication systems and base stations for providing high speed data transmission over long distances. Factors including the growing demand for wireless communication, increasing need for high-speed communication and data transfer solutions, and rising penetration of 5G networks are among the key prospects fostering the growth of the IT & telecommunication segment.
Based on region, North American region accounted for the largest revenue share in the year 2022. The growth of multiple industries including IT & telecommunication, military & defense, and other sectors is driving the growth of electro-optic modulator market in North America. Further, the rising investments in military & defense are further projected to boost the market growth in North America during the forecast period.
Key Market Highlights
- Globally, electro-optic modulator market is divided based on the type into polarization modulator, amplitude/intensity modulator, phase modulator, and others.
- In the context of end-user, the market is separated into IT & telecommunication, military & defense, laser printing, and others.
- The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
- North America and Asia-Pacific are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on advancements in electro-optic modulator market.
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List of Major Global Electro-Optic Modulator Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
• Thorlabs Inc.
• Coherent Corp.
• APE GmbH
• Lightwave Logic Inc.
• Newport Corporation
• Conoptics Inc.
• QUBIG GMBH
• Versawave Technologies Inc.
• IXBlue
• Hamamatsu Photonics K.K.
Global Electro-Optic Modulator Market Segmentation:
- By Type
- Polarization Modulator
- Amplitude or Intensity Modulator
- Phase Modulator
- Others
- By End-User
- IT & Telecommunication
- Military & Defense
- Laser Printing
- Others
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Key Questions Covered in the Electro-Optic Modulator Market Report
- What is electro-optic modulator?
- Electro-optic modulators refers to optical devices that utilizes a signal-controlled element displaying an electro-optic effect for modulating a beam of light. The modulation are often imposed on the amplitude, frequency, polarization, or phase of the beam.
- What is the dominating segment in the electro-optic modulator market by type?
- In 2022, the polarization modulator segment accounted for the highest market in the overall electro-optic modulator market.
- Based on current market trends and future predictions, which geographical region will have the largest impact on the electro-optic modulator growth in the coming years?
- North America accounted for the largest revenue share in the year 2022. The increasing demand for electro-optic modulators from IT & telecommunication and military & defense sectors among others is driving the growth of the regional market.
- Which region/country is anticipated to witness the highest CAGR during the forecast period, 2023-2031?
- Asia-Pacific is anticipated to register fastest CAGR growth during the forecast period due to rapid pace of industrialization and growth of multiple industries such as military & defense, telecommunication, laser printing, and others.
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