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 rising investments in augmented/mixed reality (AR/MR) market, rising number of data centers worldwide, and technological advancements in photonic integrated circuits (PICs).
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Key strategies adopted by the players in the optical waveguide market to uphold their position and ensure long-term growth and market success are product launches, acquisitions, collaborations, and partnerships. For instance:
In November 2022, Corning Incorporated (US) announced a strategic collaboration with Wesco International (US) and Nokia (Finland) to accelerate and simplify last-mile broadband deployment in rural and regional networks. Wesco will be the first distributor to launch a new fiber-to-the-home kit featuring Corning’s award-winning FlexNAP components.
In May 2022, Corning Incorporated (US) announced the expansion of its MiniXtend cable portfolio with the introduction of MiniXtend HD cables for 12 to 72 fibers and MiniXtend XD cables for 192 and 288 fibers. The new MiniXtend HD cables and MiniXtend XD cables deliver high density, duct space efficiency, and reduced carbon footprint.
In May 2022, Prysmian Group (Italy) partnered with Telstra (Australia) to deliver a fiber optic cable for Australia’s national fiber network project. The cable design is combined with Prysmian’s BendBright G.657.A2 low-loss fiber technology. Under this project, the companies will deploy about 20,000 km of new fiber-optic terrestrial cables, boosting inter-capital capacity and capacity for regional areas.
Corning Incorporated (US) is one of the leading manufacturers of specialty glass, ceramics, and optical products. The company offers a wide range of products to the aerospace & defense, consumer electronics, life sciences, architecture & design, communications, automotive, and optics industries. The company has a strong patent portfolio with over 12,150 patents worldwide, of which 4,350 US patents. In addition, Corning Incorporated (US) had 9,050 patent applications in the process as of December 2021. In 2021, Corning was granted over 420 patents in the US and over 1,600 patents in countries outside the US. The company has an operational presence in 44 countries across the world. It has strong manufacturing capabilities with 119 manufacturing plants and processing facilities, ~32% of which are in the US. Corning Incorporated has customers in North America, Asia Pacific, Europe, Latin America, and the Middle East & South Africa.
Sumitomo Electric Industries, Ltd. (Japan) is among the leading suppliers of optical components, fiber optic cables, and supporting equipment. Sumitomo Electric Industries, Ltd. operates about 415 subsidiaries across the world. It has a major presence across Japan, Asia, North America, Latin America, and Europe. The company offers solutions which are targeted for Fiber to the Home (FTTH), Fiber to the Building (FTTB), and Fiber to the Premises (FTTP) applications. The company promotes constant development through intellectual property (IP) activities and reinforces its competitive edge in the global market. As of March 2022, the company had 26,662 patents, utility models, and design rights worldwide, of which 12,433 are in Japan, and 14229 are overseas. The Information & Communications business segment accounted for 2,541 and 3,207 IPs in Japan and overseas, respectively.
Optical Waveguide Market by Type (Planar, Channel), Material (Glass, Polymer, Semiconductor), Propagation (Single-mode, Multi-mode), Refractive Index (Step-index, Graded-index), Interconnect Level, End-user Industry and Region – Global Forecast to 2028
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