LONDON--(BUSINESS WIRE)--The global optical modulators market size is poised to reach USD 42.88 billion by 2023, according to a new report by Technavio, progressing at a CAGR of more than 7% during the forecast period.
“Optical modulators are increasingly being used in self-driving cars to support automotive sensors. These modulators are scalable and have unlimited bandwidth capacity, which helps in supporting the connectivity of self-driving cars. Thus, the growth in the number of self-driving cars will drive the growth of the market,” says a senior analyst at Technavio. Request Free Sample Pages
The market is driven by the growing demand for optical fibers. In addition, the increased demand for cloud-based storage is anticipated to further boost the optical modulators market during the forecast period.
The demand for optic fibers is increasing significantly, owing to the increase in data transmission by high-performance servers, computers, and network storage systems. Optic fiber cables are superior in quality compared with traditional copper coaxial cable or twisted-pair cable, owing to their physical characteristics. The increasing adoption of optic fibers will increase the demand for optical modulators that are used to modulate a beam of light in an optic fiber. Thus, the rising demand for optic fibers will drive market growth during the forecast period.
The increasing demand for cloud-based storage is another major factor driving the growth of the optical modulators market. The adoption of cloud computing has increased significantly over the past few years, which has resulted in the significant growth of data centers. This in turn has increased the demand for optical modulators that help in offering high-speed data transmission with less energy consumption and low optical losses in data centers.
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The report includes detailed profiles of the leading companies & prominent vendors of the market:
- Agiltron Inc.
- Cisco Systems Inc.
- Fujikura Ltd.
- Gooch & Housego Plc
- IBM Corp.
Market Segmentation by Application:
- The Optical Modulators Market can be broadly categorized into the following:
- Data Centers
Key Regions for the Optical Modulators Market:
Featuring a breakdown of region-wise market shares until 2019.
- North America
- South America
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
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