Lithium Niobate Modulator Market Predicted to Reach $ 36,711.3 Million by 2026 Growing at a CAGR of 24% - Research Dive
Lithium Niobate Modulator Market Overview 2026:
PUNE, India, Feb. 5, 2020 /PRNewswire/ -- According to a new report published by Research Dive, the global lithium niobate modulator market will be $ 36,711.3 Million by 2026, at a growth rate CAGR of 24.0%, and is increasing from $6,568.0 Million in 2018.
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Lithium Niobate Modulator Market Driving Factor:
The market is mainly driven by the aerospace and defense and IT & Telecom sectors. In IT & Telecom sector, the increase in the demand of lithium niobate modulator based optical fibers for use in LTE & 3G mobile networks and continuous rise in LAN services. The lithium niobate modulators have wide range of advantages in the defense & aerospace for satellite communication devices, radar detection devices and wireless communication systems. In radar detection system, the lithium niobate are utilized to detect unidentified aircrafts and ships. In spite of the wide range of advantages, the high cost of the lithium niobate modulator is expected to hinder the growth rate of the market across the globe and due to high cost the costumers are not willing to use in communication devices. In the telecommunication sector, the technological progressions and the introduction of 5G technology are expected to major factors for investment opportunities in the lithium niobate modulator market.
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The global lithium niobate modulator market is categorized into wavelength window, type, application and end-use. By type, 20 GHz frequency modulator is generated majority of the market share in 2018, is expected to generate $12605.1 million and at a growth rate of 23.8% over forecast period. Along with 20 GHz, the market for 10 GHz frequency modulator is anticipated to account for $11215.2 million by the end of 2026, owing to 10 GHz modulators are used in satellite communication, radar detection systems and wireless computer communication.
On the basis of wavelength window, the 1060 NM wavelength window segment is expected a remarkable growth rate and is account for $4,920.2 million over forecast timeframe, owing to 1060 NM wavelength modulators are widely used in fiber optic communication. The 1550 NM wavelength window segment is generated majority of the lithium niobate modulator market share in 2018, is expected to register for $14,854.6 million by the end of 2026, this is owing to upsurge in demands from digital communication sector.
By end-use, aerospace and defense sector is anticipated to generate a substantial growth, and is estimated to register for $9,100.4 million, growing at a rate of 23.8% during forecast period. This is owing to wide use of these modulators in military communication such as radio frequency and transferring of high secure data. The IT & Telecom sector is held the major market size in 2018, is estimated to generate revenue of $14,070.8 million and at a 25.1% CAGR over forecast timeframe. The extensive use of lithium niobate modulator in IT & Telecom sector for television broadcasting and LAN services.
On the basis of application, interferometric sensing sector will experience significant growth and is projected to account for $8,391.4 million by the end of 2026, at a 26.0% CAGR, owing to increase in the usage of lithium niobate modulators in photo electric field sensors. The market for phase keyed optical communication is accounted for $1,704.3 million in 2018, and is projected to generate a revenue of $9,710.5 million, at a CAGR of 24.3% in the coming years.
North America Lithium Niobate Modulator Market Overview 2026:
Global market is dominated by North America and is accounted for the major lithium niobate modulator market size at $2,364.5 million in 2018, and is expected to grow at a rate of CAGR of 25.3% over forecast timeframe. The upsurge is attributed to rising demands from electric-optical fiber sector.
Asia-Pacific Lithium Niobate Modulator Market Forecast 2026:
The market for Asia-Pacific is expected to register a noteworthy growth during forecast period, and is anticipated to reach $7,856.3 million by the end of 2026. This is mainly due to rapid growth in the communication sector, China, Japan and India are major contributors in the lithium niobate modulator market.
Top Key Players in Lithium Niobate Modulator Market:
- EOSPACE Inc.
- Beijing Panwoo Fabrinet Inc.
- Fujitsu Optical Components Ltd
- Gooch & House plc
- Integrated Optoelectronic Inc.
- Lumentum Operations LLC
- iXblue Group
- THORLABS
The key players are continuously implementing new approaches, increasing investments on research and development activities are some of the strategies. For example, in December 2019, a new product launched by Fujitsu Optical Components Ltd for 5G communication, which is high speed virtual switch for 5G communication.
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