The North America Optical Waveguide Market would witness market growth of 6.4% CAGR during the forecast period (2023-2029).
Optical waveguides have many potential properties, including biocompatibility, dispersed sensing capability, immunity to electromagnetic noise, and high bandwidth. These features are predicted to support the expansion of the optical waveguide market in the upcoming years. The market for optical waveguides is primarily driven by the quick increase in the use of electronic devices, as well as by the massive volume of data flow and increased data traffic. Furthermore, in the near future, there will likely be a demand for optical waveguides due to the rising popularity of the internet and the desire for low power usage.
In addition, the development and growing use of fast cloud computing methods propel the market for optical waveguides. Because optical connections can convert signals from electrical to optical with low frequency-dependent loss and high bandwidth, it is a major factor driving the demand for optical waveguides. Also, the optical waveguide can help manage the sizeable volume of data produced from data centers and cloud computing. The acceptance of this product is supported by its distinctive qualities, such as biocompatibility, dispersed sensing, and resistance to electromagnetic disturbances like those from motors and radios.
Businesses are attempting to transition toward PICs due to rising data rates & bandwidth requirements. Future applications may benefit from PICs that operate with light and photons rather than electricity and electrons because they could provide a wider bandwidth and greater efficiency. In addition, PICs have been coming up with new approaches to advance technology, like quantum computing. In North America, more bandwidths and greater efficiency are anticipated to be needed for data & communications in the future, which will encourage the development of PICs in the region. Throughout the forecast period, it is also projected that the rising demand for PICs will promote regional market growth in North America.
The US market dominated the North America Optical Waveguide Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $2,083.3 million by 2029. The Canada market is poise to grow at a CAGR of 8.8% during (2023 - 2029). Additionally, The Mexico market would witness a CAGR of 7.8% during (2023 - 2029).
Based on Type, the market is segmented into Channel Waveguide and Planar Waveguide. Based on Interconnect Level, the market is segmented into Board-to-board & Rack-level Optical Interconnect, Chip- & Board-level Optical Interconnect and Metro & Long-haul Optical Interconnect. Based on Material, the market is segmented into Glass, Polymer and Semiconductor. Based on Propagation, the market is segmented into Single-mode and Multi-mode. Based on Industry, the market is segmented into Telecommunication, Data Center & High-Performance Computing (HPC), Industrial & Metrology, Medical, Aerospace & Defense, Consumer Electronics and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Optical Waveguide Market is Projected to reach USD 9.9 Billion by 2029, at a CAGR of 7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Corning Incorporated, Sumitomo Electric Industries, Ltd., Yangtze Optical Fibre and Cable Joint Stock Limited Company, Fujikura Ltd., Prysmian Group, Furukawa Electric Co., Ltd., CommScope Holding Company, Inc., Sterlite Technologies Limited, Coherent Corp. and DigiLens Inc.
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By Interconnect Level
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