Electro-optic modulators (EOM) are devices capable of controlling the refractive index of optic signals. Delivering fiber optic transmission and expansion of the IT telecommunication sector can drive the market growth. Market Research Future’s (MRFR) report on the electro-optic modulators market outlines the various drivers, obstacles, trends, and opportunities for manufacturers for the forecast period (2020-2027). The COVID-19 outbreak and its effect on the industry have been explored in the report.
Electro-Optic Modulators Market Scope
The global electro-optic modulators market is set to exhibit 11% CAGR from 2017 to 2023.
The market is driven by improvements in fiber-optic communications and development of arsenal in the defense sector. Utilization of EOMs in optical experiments to increase its accuracy and application in Raman spectroscopy research can drive market growth significantly. Stabilization of frequency of EOMs can be used in monitoring applications in verticals of aerospace, surveillance, and telecom.
Emergence of 5G network technology and advances in fiber optic transmission can bode well for the market. Increasing number of internet users and demand for high-volume bandwidth speeds can expedite market demand by a considerable rate. Technological strides in AI, IoT, and LTE can prove to fruitful to the market in the coming years.
High costs of fiber optic technology and spectrum bands can hamper market growth. Limitations of affordability among middle-income groups coupled with lack of qualified personnel for installation, management, and maintenance can negatively affect the electro-optical modulators market.
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Electro-Optic Modulators Market Regional Analysis
North America, Latin America, Europe, Asia-Pacific, and the Middle East Africa (MEA) are major regions covered in the electro-optic modulators market.
North America is estimated to lead in the global market owing to technological advances and growth of semiconductor foundries and fabs in the U.S. Considerable industrialization is expected to drive regional market growth. Investments in 5G infrastructure and initiatives to increase connectivity in public places can provide room for growth to the electro-optic modulators market. Cloud-based solutions can encourage market growth.
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Electro-Optic Modulators Market Segmentation
By type, the market is segmented into phase modulators, travelling wave modulators, polarization modulators, liquid crystal modulators, analog modulators, amplitude modulators, and thermally compensated modulators. Among them, the polarization modulators segment is bound to dominate the market growth owing to rapid industrialization. Electro-optic modulators can control the phase, polarization state, and amplitude of the beam. Stabilization of resonance frequencies and research and development activities of servers and computers can drive the segment growth.
By application, it is segmented into instruments and industrial systems, fiber optic sensors, space and defense, and optical telecommunications. Optical telecommunications can hold the reigning position in the electro-optic modulators market owing to demand for high data transmission rates. Advances in telecommunication protocols and expansion of optical fiber networks can bolster market growth. Use of optical fibers for high speed communication and performance can bode well for the segment. COVID-19 Impact Analysis
The COVID-19 outbreak can boost the market demand significantly owing to investments in digital infrastructure and high capital infusion to cater to large data volumes. Rise of hyperscale computing and communication between servers, electronic devices, and other systems can bolster the electro-optic modulators market.
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Electro-Optic Modulators Market Competition Analysis
Thorlabs Inc., Gooch Housego PLC, Inrad Optics Inc., QUBIG GmbH, APE Angewandte Physik and Elektronik GmbH, Newport Corporation, Conoptics Inc., Brimrose Corporation of America, Photon LaserOptik GmbH, and GLEAM Optics are key players of the electro-optic modulators market. Investments in RD and awareness of improving technology are part of new strategies by these companies to expand their customer base and launch new products.
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