New York, USA, March 26, 2020 (GLOBE NEWSWIRE) -- The global lithium niobate modulator market forecast will be $36.711 Billion by 2026, at a 24.0% CAGR, increasing from $6.568 Billion in 2018, according to a new report published by Research Dive. Lithium niobate modulator is an electro-optic device that uses a signal-controlled element which exhibits an electro-optic effect to modulate an optical beam. The basic knowledge behind these modulators is to modify the electric-optical properties of a material such as amplitude, phase, position, and frequency. Lithium modulators are developed for the use in optical computing, digital and analog signal processing and communications.
Driving Factors
Due to the widespread use of these modulators in telecommunications and digital communications networks, the global lithium niobate modulation industry is primarily powered by IT & Telecom. For wireless networking devices, satellite networking, and radar detection systems; lithium niobate modulators are also employed for Defense & Aerospace sectors. Such modulators are used to track unknown aircraft and ships in the radar detection system. Due to the high price the customers turn towards alternative modulators, the costs of the lithium niobate modulatory devices maintain the world market growth. The technological advancements and implementation in the telecommunications field of 5G network technology are also expected to be significant investments in the lithium niobate modulator industry.
Cost of the modulator is restraining the growth of Lithium Niobate Modulator Market: Download Sample Report
Segment Overview
The global lithium niobate modulator market is categorized based on type, wavelength window, application, end-use, and geographical segments. Based on segmentation by type, the market is divided into 10 GHz, 20 GHz, 40 GHz, and Others. By Wavelength Window, the market is shared between 800 NM, 1060 NM, 1300 NM, 1550 NM, and Others. By application, the market is classified into Phase Keyed Optical Communications, Coherent Communication Links, Spectrum Broadening, Interferometric Sensing, Quantum Key Distribution, and Others types. By End-use, the market is used in IT, and Telecom, Aerospace, and Defense, Industrial uses, Research, among Others use. The market also covers the geographical Scope in North America, Europe, Asia-Pacific, LAMEA and the Key Countries included in the report are U.S., Canada, Mexico, Germany, UK, Italy, Spain, Russia, Japan, China, India, South Korea, Australia, Brazil, South Africa, and Saudi Arabia
Future Opportunities
The development of the lithium niobate modulator market will be significantly enhanced by the telecommunications industry developments of technologies and 5G technology. Furthermore, lithium niobate modulators have increased their usage in many sectors such as IT & Telecom, Manufacturing, Aerospace & Defense, etc., because of technological advances and rapid industrialization in the lithium niobate modulatory industry. Besides that, these modulators are very well adapted for connectivity advancements such as 5G technology and wireless networking in order to provide uninterrupted Internet service.
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Regional Outlook
The demand in Asia-Pacific is projected to hit $7,856.3 million over the forecast period. This is increased from $1,379.3 million in 2018. It is primarily attributable to the growing demand for wireless LAN and 3 G & LTE networks from the IT & Telecom field. The rapidly developing economies and significant players in Asia-Pacific are China, India, and Japan. In addition, the growth of lithium niobate modulator markets in the Asia-Pacific was expected for the increase in R+D activities, the introduction of new technologies, and cost minimization methods for lithium niobate modulator.
Top Key players & Key Strategies
iXblue Group, Gooch & House plc, Fujitsu Optical Components Ltd, THORLABS, Beijing Panwoo Integrated Optoelectronic Inc., Fabrinet Inc., Lumentum Operations LLC, and EOSPACE, Inc. are among many other leading players on the global market. These businesses are focused mainly on such approaches for growing the company's international market share, including emerging technology, mergers, acquisitions, new consumer launch, and international expansions. For example, the latest "Integrated Bridge and Navigation System (IBNS)" navigation system for the US Navy was introduced by iXblue Photo Nics in September 2019. Innovative approaches for sailing, subsea imaging, and positioning of ships in oceans are provided with this advanced device.