Morgan Stanley: Global AI Optical Module PCB Market CAGR Could Reach 83%, Far Exceeding the Optical Module Growth Rate of 60% in the Same Period

Odaily reports that Morgan Stanley's latest report predicts that as AI cluster scales continue to expand, the demand for data transmission between GPUs is growing exponentially, which will drive a rapid surge in optical module demand. As optical modules upgrade from 400G to 800G, 1.6T, and even 3.2T, the materials, layer count, and manufacturing processes of their internal PCBs will undergo comprehensive upgrades, leading to a significant increase in the value of a single PCB.

Morgan Stanley expects that from 2025 to 2028, the global AI optical module PCB market will grow from $620 million to $3.77 billion, an increase of more than five times in three years, with a compound annual growth rate (CAGR) of 83%, far exceeding the 60% growth rate of optical modules in the same period. The report points out that the total shipments of AI optical modules are expected to be 73 million, 141 million, and 158 million units in 2026, 2027, and 2028, respectively. Among them, the three-year CAGR of 1.6T optical module shipments is approximately 60%, while the growth rate of the circuit board market is as high as 83%. (Jin Shi)