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.
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Planar lightwave circuit splitter is a type of optical power management device fabricated using silica optical wave-guide technology to distribute optical signals.
In 2016, 1N segment dominated the market, in terms of revenue, due to increase in investment in IT and telecommunication sector.
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.
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 global 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, and market expansion to boost the growth of the market.
Key Findings of the Planar Lightwave Circuit Splitter Market:
- The 1N segment accounted for the highest share 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.
- North America is expected to dominate the market, in terms of market share, during the forecast period.