Experts Predict Stunning Growth for Global Optical Waveguides Market, Reaching USD 14.74 Billion by 2036

Posted  by GoPhotonics

712370

Research and Markets, the world's largest market research store, published a report on, "Global Optical Waveguides Market Outlook 2023-2036". According to the report, the Global Optical Waveguide Market is anticipated to grow with a CAGR of 7.92% over the forecast period, i.e., 2024 - 2036. The market is estimated to garner a revenue of nearly USD 14.74 billion by the end of 2036, up from a revenue of about USD 5.46 billion in the year 2023.

Factors such as the surge in the high demand for FTTH, followed by the rising need for sustainable and green technologies are projected to drive the growth of the market in the coming years. Additionally, the rising advancement in autonomous driving technology is also expected to boost market growth. The market is estimated to garner a revenue of nearly USD 14.74 billion by the end of 2036, up from a revenue of about USD 5.46 billion in the year 2023.

The global optical waveguide market is segmented into numerous segments, which include segmentation by application, material, mode, and region. By mode, the market is segmented into multimode and single mode. By the end of 2036, the multimode segment is anticipated to garner the largest revenue of around USD 9.2 billion, up from a revenue of close to USD 3.49 billion in the year 2023.

On the basis of region, the global optical waveguide market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific, amongst the markets in all the other regions, is anticipated to garner the largest revenue of more than USD 5.74 billion by the end of 2036. Moreover, in the year 2023, the market in the region generated a revenue of over USD 2.03 billion.

Some of the prominent industry leaders in the global optical waveguide market that are included in our report are

Click here to read the report titled, 'Global Optical Waveguides Market Outlook 2023-2036'.