Research Dive Predicts, Lithium Niobate Modulator Market Growing at CAGR of 24%Download Sample Reports Overview
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 market driver: The global lithium niobate modulator market is majorly driven by the IT & Telecom sector, owing to extensive use of these modulators in the telecommunication and digital communication services. In defense & aerospace sector, lithium niobate modulators are used for wireless communication devices, satellite communication and radar detection system. In radar detection system, these modulators are used in detection of unknown ships and aircrafts. The price of the lithium niobate modulator devices is retaining the global lithium niobate modulator market growth, owing to high price the clients are shifting to the alternative modulators. Technical improvements and implementation of 5G network technology in the telecommunication sector are further projected to be key investment opportunities in the lithium niobate modulator market.
The global lithium niobate modulator market is classified into wavelength window, type, application and end use. By type, 20 GHz segment is accounted the highest market size and is anticipated to register for $12,605.1 million and at a growth rate of 23.8% over forecast timeframe, owing to the 20 GHz frequency modulators use in microwave devices, radio and TV broadcasting services. The market for 10 GHz is expected noteworthy growth rate of 25.4% and estimated to account for $11,215.2 million during forecast period.
Based on wavelength window, 1550 NM modulator held the highest market share in 2018 and registered for $2,721.6 million and is anticipated to register for $14,854.6 million by 2026, at a 23.6% CAGR, owing to the use of 1550 NM wavelength modulator in the digital communication devices and both Infrared absorbance and Rayleigh scattering are falling in the 1500-1650 NM wavelength range. Besides 1550 NM modulator, the market for 1060 NM will experience substantial growth and is estimated to reach $4,920.2 million and at a 25.4% CAGR over forecast timeframe.
Based on end use, the lithium niobate modulator market for IT & Telecom sector is registered key market size and projected to generate $14,070.8 million by the end of 2026, and at a 25.1% CAGR, owing to increase in the consumption of these modulators in the digital communication and cable & TV broadcasting services. The aerospace & defense sector is projected to account for $9,100.4 million and at a CAGR of 23.8%, owing to the extensive use of lithium niobate modulators for military communication and radio frequency (RF) security.
Based on application, the phase keyed optical communication held the majority of the market size and is expected to reach $9,710.5 by 2026, at a 24.3% CAGR. This is owing to extensive use of these modulators in airplane to ground level communication. Interferometric sensing sector is expected to account for $8,391.4 million, increasing at a highest growth rate of 26.0% over forecast period.
The market for Asia-Pacific is anticipated to experience remarkable growth during the forecast period, owing to the increase in the usage of these modulators in telecommunication sector for providing high speed internet services and continuous rising in the wireless LAN services from households. North America market held highest lithium niobate modulator market share in 2018, and anticipated to account for $14,394.7 million, at a growth rate of 25.3% during forecast timeframe. This is owing to the presence of developed countries, therefore the utilization of lithium niobate modulators in electric-optical fiber sector for high speed mobile networks.
Fujitsu Optical Components Ltd, Lumentum Operations LLC, Integrated Optoelectronic Inc., Gooch & House plc, EOSPACE Inc., THORLABS, Beijing Panwoo Fabrinet Inc., and iXblue Group are some of the major participants in the global market. These participants are continuously increasing their efforts on R&D activities, mergers & acquisitions and new products launches in order to increase their lithium niobate modulator market size in the global market. For example, in December 2019, Fujitsu Optical Components Ltd launched new product “PRIMERGY RX2530 M4p” for 5G communication in JAPAN. This model has features such as high-speed virtual switch optimized for 5G communications.