In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
February 9, 2021: Photonics Bretagne in association with iXblue Photonics, announced an agreement, where the latter would distribute portfolio fibers, which include microstructure fibers, such as hollow core, airclad, supercontinuum, and others, along with multicore fibers, produced by Photonics Bretagne.
August 4, 2020: NKT Photonics A/S announced that it has collaborated with ALPhANOV for the distribution of photonic crystal fiber (PCF) manufactured by NKT Photonics. The collaboration is further aimed at providing user-friendly aeroGUIDE photonic crystal fiber large mode area (PCF LMA) fiber delivery solutions, a solution which is made by the combined effort of both the organizations, for the photonics market.
The global photonic crystal fiber (PCF) market is estimated to garner a revenue of USD 109.5 Million by the end of 2030 by growing at a CAGR of 3.8% over the forecast period, i.e., 2021 – 2030. Moreover, in the year 2020, the market registered a revenue of USD 76.2 Million. The growth of the market can primarily be attributed to growing telecommunications industry worldwide and the increasing installations of cellular network towers, backed by the growing internet penetration and the rise in the adoption of smartphones globally. According to the statistics by the International Telecommunication Union (ITU), by the end of 2019, an estimated 4 Billion people, which represented close to 51% of the global population, were known to use the internet. PCFs are widely being used as connectivity cables between the various devices used in the telecommunication industry. With the growing investment in the telecom sector worldwide, along with the rise in the number of connected IoT devices, which is estimated to reach close to 25 Billion by the end of 2030, up from around 8 Billion in the year 2019, are some of the major factors estimated to contribute to the market growth in the coming years.
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Additionally, the increasing adoption of 5G technology, along with the numerous benefits associated with the use of PFCs instead of conventional optical fibers are also expected to boost the market growth in the coming years.
Moreover, the growing trade of optical fibers worldwide is also projected to drive the market growth in the coming years. According to the statistics by the International Trade Center (ITC), the imported value of optical fibers globally increased from USD 1664225 Thousand in the year 2014 to USD 2559937 Million in the year 2018.
Regionally, the global photonic crystal fiber (PCF) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Europe region is anticipated to garner the largest revenue of USD 35.9 Million by the end of 2030, up from a revenue of USD 26.0 Million in the year 2020. The market in the region is further expected to grow with a CAGR of 3.4% during the forecast period. The growth of the market in the region can be attributed to the availability of numerous market players who are working privately or through public-private partnership to advance in the field of photonics and photonic crystal fibers. Besides this, the growing supporting initiatives of the European Commission (EC) to launch at least one 5G network in every member state by the end of 2020, is also expected to contribute to the market growth in the coming years.
The market in the region is further segmented by country into the United Kingdom, Germany, Italy, France, Spain, Russia, Netherlands, and the Rest of Europe. Out of these, the market in Germany is anticipated to grow with a CAGR of 3.0% during the forecast period, and further touch a revenue of USD 6.7 Million by the end of 2030, up from a revenue of USD 5.0 Million in the year 2020.
The study further incorporates Y-O-Y Growth, market opportunities, demand & supply and forecast future opportunity in North America (United States, Canada, Mexico), South America, Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
The global photonic crystal fiber (PCF) market is segmented by core into solid core, and hollow core, out of which, the hollow core segment is expected to grow with the highest CAGR of 4.5% during the forecast period. By transmission mechanism, the market is segmented into index guiding, and bandgap guiding. Out of these, the bandgap guiding segment is anticipated to grow with the highest CAGR during the forecast period, while the index guiding segment is expected to garner the largest revenue by the end of 2030. The market is further segmented by application into sensors, lasers, telecommunications, and others. Out of these, the sensors segment is expected to generate the largest revenue of USD 38.0 Million by the end of 2030, up from a revenue of USD 27.2 Million in the year 2020. By end-use industry, the market is further segmented into optics, biotechnology, astronomy, medicine, and others. Out of these, the optics segment is projected to grow with a CAGR of 3.1% during the forecast period and garner the largest revenue of USD 31.7 Million by the end of 2030.
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global photonic crystal fiber (PCF) market that are included in our report are NKT Photonics A/S, Photonics Bretagne, Glophotonics, SelenOptics, Flexilicate, and others.
Ans: The numerous benefits of photonic crystal fibers (PCF) over conventional optical fibers, and the rising investment in the telecommunication sector, are some of the major factors anticipated to drive the market growth.
Ans: The market is anticipated to attain a CAGR of 3.8% over the forecast period, i.e., 2021 – 2030.
Ans: The high cost of photonic crystal fiber (PCF) is one of the estimated to hamper the market growth.
Ans: The market in Europe region is anticipated to garner the largest revenue of USD 35.9 Million by the end of 2030 and display significant business opportunities.
Ans: The major players in the market are NKT Photonics A/S, Photonics Bretagne, Glophotonics, SelenOptics, Flexilicate, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by core, transmission mechanism, application, end-use industry, and by region.
Ans: The sensors segment is expected to generate the largest revenue of USD 38.0 Million by the end of 2030 and display significant growth opportunities.