According to a new report by Allied Market Research, titled,"Planar lightwave circuit splitter Market by Type and Application: Global Opportunities Analysis and Industry Forecast, 2017 - 2023,"the global planar lightwave circuit splitter market was valued at $778.80 million in 2016, and is projected to reach at $ 1,352.70 million by 2023, growing at a CAGR of 7.80% from 2017 to 2023.
Planar lightwave circuit splitter is a type of optical power management device fabricated using silica optical wave-guide technology to distribute optical signals. Planar lightwave circuit splitter market provides a comprehensive analysis of the industry trends along with the analysis of the entire ecosystem of planar circuit splitter.
In 2016, 1N segment dominated the Planar lightwave circuit splitter market, in terms of revenue, due to increase in investment in IT and telecommunication sector. The 1N optical splitters are deployed in star networks, the use of optical splitters in PON allows the service provider to conserve fibers in the backbone, essentially using one fiber to feed as many as 64 end users. The requirement for star configuration network across various indoor and outdoor cabling applications, drive the growth of the market. The FTTX and telecommunication segments jointly accounted for about 46.8% share in 2016, with the former constituting around 26.5% share.
North America was the highest revenue contributor to the planar lightwave circuit splitter market in 2016, accounting for around 37.41% share, owing to surge in demand for wide operating wavelength across the network fabrication and installation and presence of well-established planar lightwave circuit splitter industry. The planar lightwave circuit splitter is highly used over long distance transmission and measures such as insertion losses as low as 0.5 dB and disturbance values of 1721 dB to achieve minimum loss. Moreover, owing to their smaller space requirement they can be used in application where use of traditional components such as optical fibers, Fused Bi-conical Taper (FBT), self-aligned semiconductor, optical amplifier gate arrays are not possible. Continuous advancements in pertaining to 5G technology can provide better opportunity to vendors to tap into the market potential. The planar lightwave circuit splitters are also being adopted for military surveillance purpose. However, the availability of low-cost fiber optic splitter or beam splitter may act as a restraint to the growth of planar lightwave circuit splitter market.
The report features a competitive scenario of the planar lightwave circuit splitter market and provides a comprehensive analysis of the key growth strategies adopted by major players. The key players in the planar lightwave circuit splitter market are Corning Inc., Exfiber Optical Technologies, Fiberon Technologies, Go Foton, Huihong Technologies, Ntt Electronics, Oemarket, Opto-Link Corporation, Prysmian and other companies include Reliable Photonics, Shenzhen Technologies, and Sun Telecom.
These players have adopted various competitive strategies such as innovation, new product development, acquisition and market expansion to boost the growth of planar lightwave circuit splitter market. For instance, Prysmian acquired General Cable for USD 30.00 per share in cash for enhancing its position in cable industry and increasing its presence in North America and expanding their footprint in Europe and South America.
KEY FINDINGS OF THE STUDY
The 1N segment accounted for the highest share in the planar lightwave circuit splitter market in 2016, growing at a CAGR of 7.70% from 2017 to 2023.
FTTX application generated the highest revenue, accounting for $206.5 million in 2016.
The PON application is expected to grow at a CAGR of 8.8% from 2016 to 2023.
North America is expected to dominate the market, in terms of market share, during the forecast period.
Asia-Pacific and LAMEA are expected to witness significant growth at a CAGR of 10.0% and 9.4% respectively, during the forecast period.