Electro-Optic Modulators Market Highlights:
The global electro-optic modulators market is mainly driven by the growing demand for telecommunications infrastructure in emerging regions in Asia Pacific.
According to a new research report from Market Research Future (MRFR), the global electro-optic modulators market is expected to exhibit a strong 11% CAGR over the forecast period from 2017 to 2023.
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Leading players in the global electro-optic modulators market include Brimrose Corporation of America, APE Angewandte Physik and Elektronik GmbH, Gooch & Housego plc, Photon LaserOptic GmbH, Newport Corporation, Inrad Optics Inc., GLEAM Optics, QUBIG GmbH, Conoptics Inc., and Thorlabs Inc.
Apart from the leading market players, the role of research institutions is also likely to be important in the global electro-optic modulators market due to the increasing demand for product innovations in the electro-optic modulators market. In March 2019, researchers from the City University of Hong Kong, Harvard, and Nokia Bell Labs developed new on-chip electro-optic modulator made from lithium niobate. The modulator provides faster data transmissions at lower costs, and is projected to be used in 5G base stations, to facilitate smooth fiber data transmission.
The Electro-Optic Modulator Market has been segmented on the basis of type and application.
- Based on type, the global electro-optic modulator market has been segmented into polarization modulators, amplitude modulators, phase modulators, analog modulators, liquid crystal modulators, traveling wave modulators, and thermally compensated modulators. Among these, the liquid crystal modulator segment commands the major share of the global electro-optic modulator market and is likely to remain the leading revenue generator over the forecast period.
- Based on application, the global electro-optic modulator market has been segmented into fiber optic sensors, space and defense, optical telecommunications, instruments and industrial systems.
The global electro-optic modulators market is likely to be dominated by North America over the forecast period due to the growing demand for electro-optic modulators in audiovisual transmission of sports events, multimedia events, and other live shows. Optical telecommunications is a major branch of the telecommunications industry in North America, with subscriber number increasing rapidly due to the increasing interest in TV shows and the increasing disposable income of consumers in the region. This is likely to drive the demand for electro-optic modulators in telecommunication applications over the forecast period. The increasing demand for electro-optic modulators in space and defense applications is also likely to be a major driver for the global electro-optic modulators market, with the U.S. emerging as one of the leading players in the space and aviation industry and thus presenting strong chances for players in the electro-optic modulators market.
Europe is also likely to be a major regional market for electro-optic modulators over the forecast period due to the growing demand for the devices in industrial as well as telecommunications applications. The growing government expenditure on technological advancement in the industrial sector and the increasing private investment in research into microwaves and other areas in optics are also likely to be a key driver for the electro-optic modulators market over the forecast period. Increasing industrial applications of optical microwave technology are likely to drive the demand for electro-optic modulators over the forecast period in Europe.
The increasing demand for fiber optic sensors in North America and Europe is also likely to be a major driver for the global electro-optic modulators market, as the highly developed economies in these regions have emerged as among the leading consumers of fiber optic technology, including fiber optic sensors.
Asia Pacific is likely to be a highly promising market for electro-optic modulators over the forecast period due to the growing demand for telecommunication infrastructure in the developing economies of Southeast Asia. Leading regional players such as India, China, Japan, and South Korea have also made significant investments in the development of telecommunications infrastructure, with audiovisual telecommunications being a top priority in all these countries, where the demand for TV shows and web series is increasing rapidly, driven by the increasing disposable income of youth consumers, leading to excessive consumption of media content on online and TV channels. The growing TV market in this region is likely to drive the demand from the electro-optic modulators market in the optical telecommunications field. Increasing industrial and commercial application of fiber optic sensors is also likely to be a major driver for the electro-optic modulators market over the forecast period.
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