New York, USA , June 07, 2022 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global lithium niobate modulator market is predicted to garner a revenue of $6,542.6 million and grow at a CAGR of 6.74% over the estimated timeframe from 2022 to 2030.
As per our analysts, with the rising demand for lithium niobate modulators from the IT & telecom and aerospace defense sectors to provide enhanced communications with high-speed internet services, the lithium niobate modulator market is expected to experience noteworthy growth during the analysis period. Besides, the increasing use of lithium niobate modulators in advanced radar systems, wireless network equipment, and satellite connectivity is projected to bolster the growth of the market over the forecast period. Moreover, the advancements in the communication sector and the adoption of 5G technology are expected to create extensive growth opportunities for the market during the estimated period. However, the high cost of the lithium niobate modulator may hamper the growth of the market throughout the analysis timeframe.
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Segments of the Lithium Niobate Modulator Market
The report has divided the market into various segments based on type, wavelength window, application, end-use, and region.
Type: 20 GHz Modulator Sub-Segment to be Most Productive
The 20 GHz modulator sub-segment is projected to generate a revenue of $2,235.1 million during the forecast period. The increasing usage of 20 GHz modulators in television broadcasting, microwave devices, and satellite radio services is predicted to fortify the growth of the sub-segment over the estimated period.
Wavelength Window: 1550 NM Sub-Segment to be Most Profitable
The 1550 NM sub-segment is expected to garner a revenue of $2,591.8 million over the forecast period. This is mainly due to the increasing usage of the 1550 NM modulator in digital communication and Rayleigh scattering & infrared absorption. Furthermore, the increasing use of 1550 NM modulators for lighting systems, sideband ROF systems, the phase difference of communication systems, and many more are projected to augment the growth of the lithium niobate modulator market’s sub-segment during the analysis period.
Application: Phase Keyed Optical Communications Sub-Segment to be Most Beneficial
The phase keyed optical communications sub-segment is expected to generate a revenue of $1,622.0 million over the estimated period. The phase keyed optical communication engages a limited number of phases each with its own distinctive form of binary code to send information which is predicted to uplift the growth of the market sub-segment during the analysis period.
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End-Use: IT & telecom Sub-Segment to be Most Lucrative
The IT & telecom sub-segment is predicted to generate a revenue of $2,394.9 million during the forecast period. This is mainly due to the adoption of lithium niobate-based optical fiber modulators in wireless LAN connectivity and mobile network services. In addition, the increasing development of WLAN infrastructure across enterprises to support unpredictable business requirements, such as high bandwidth and low latency, is predicted to propel the growth of the market sub-segment over the estimated period.
Region: North America Region to Have Wide Growth Opportunities
The North America region of the lithium niobate modulator market is expected to garner a revenue of $2,492.7 million during the forecast period. This is mainly because of the rise in the use of lithium niobate modulators in the optical fiber market in this region for higher data rates and good compatibility. Moreover, the excessive supply of lithium niobate modulators in developing and underdeveloped countries of this region for digital communication and transmission and many more is expected to fuel the regional growth of the market over the analysis period.
Covid-19 Impact on the Lithium Niobate Modulator Market
Though the outbreak of the Covid-19 pandemic has devastated several other industries, it has had a positive impact on the lithium niobate modulator market. During the pandemic period, many leading investors started focusing on the internet infrastructure market to enhance the data economic system. In addition, the widespread shift to work-from-home policies has inclined the demand for lithium niobate modulators to strengthen the communication system. All these factors have uplifted the growth of the market during the period of crisis.
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Key Players of the Lithium Niobate Modulator Market
The major players in the lithium niobate modulator market include
- Beijing Panwoo Integrated optoelectronic Inc.
- THORLABS
- Fabrinet Inc.
- Fujitsu Optical Components Ltd
- Lumentum Operations LLC
- Gooch & Housego plc
- EOSPACE, Inc.
- iXblue Group, and many more.
These players are widely working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to procure a leading position in the global industry. – Grab Key Businesses Latest Development strategic report@ https://www.researchdive.com/purchase-enquiry/42
For instance, in February 2022, POET Technologies Inc., a design and development company offering integrated solutions based on the POET Optical Interposer, announced its collaboration with Liobate Technologies, a renowned high-tech enterprise that dedicatedly develops high-end lithium niobate on insulator (LNOI) modulator chips. With this collaboration, the companies aimed to incorporate advanced thin-film lithium niobate (TFLN) modulators onto POET’s Optical Engines. These modulators are energy-efficient and highly beneficial for data center and telecom applications.
In addition, the report also summarizes other crucial aspects including SWORT analysis, the financial performance of the key players, product portfolio, and the latest strategic development.
More about Lithium Niobate Modulator Market:
- Global Lithium Niobate Modulator Market to Reach Newer Heights with Rising Demand for Seamless Communication Networks
- How Lithium Niobate Modulator Helps in Meeting Telecommunication Needs
- The Contribution of Lithium Niobate Modulators in Fiber-optic Communication Systems
