‘Global Silicon Photonics Market SizeShare, Report and Forecast 2023-2028′ by Expert Market Research provides a comprehensive view of the global silicon photonics market, assessing the market on the basis of its segments such as products, components, applications and key regions.
The report studies the latest updates in the market along with their impact on the market. It also analyzes market demand, along with its price and demand indicators. The report also tracks the market based on SWOT and Porter’s Five Forces models.
Highlights of the report include:
Market Overview (2018-2028)
Forecast CAGR (2023-2028): 42.1%
Estimated market size (2028): $7.8 billion
With an increase in demand for high data transfer capabilities and high bandwidth, the silicon photonics market is growing across the globe. There is a growing demand for silicon photonics to create photonic integrated circuits and the use of silicon photonics in expanding into optical data, biomedical, sensing, automotive, aerospace, astronomy, AI and AR/VR applications. The wide range of applications is expected to drive the market growth during the forecast period.
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Photonic integrated circuits extend, assist, and improve data transmission and are likely to use less power and generate less heat than conventional electronic circuits, providing the assurance of energy-efficient bandwidth scaling. This is expected to further increase the demand for silicon photonics in the coming years.
Silicon photonics is useful for the production of complementary metal-oxide-semiconductor electronic semiconductors, which enable the production of photonic integrated circuits based on silicon photonics using known foundry infrastructure. Older complementary metal-oxide-oxide semiconductor nodes are likely to be fully capable of manufacturing and modeling photonic devices and circuits.
The key aspects driving the growth of the silicon photonics market are the increasing awareness regarding the advantages of optoelectronics and the growing popularity of 5G transmission. Other factors driving the market growth are the introduction of various applications of silicon photonics and the increasing penetration of smartphones in the automotive industry.
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Silicon Photonics Industry Definition and Key Segments
Silicon photonics is an advanced technology that involves the application of photonic systems to process, generate, manipulate and then use light for faster data transfer within and between silicon microchips used as an optical medium. Optical beams can carry much more data in less time compared to electrical conductors. The operation is at infrared wavelengths, which are used in fiber optic telecommunication systems.
The market can be broadly categorized on the basis of products into:
Active optical cable
Fiber optic switches
Based on its component, the market can be divided into:
On the basis of application, the market can be divided into:
Data Center and High Performance Computing
By region, the market is divided into:
Middle East and Africa
Silicon Photonics Market Trends
The global silicon photonics market is anticipated to gain momentum over the coming years due to significant increase in demand for faster data transfer technologies such as silicon photonics. This is due to the increase in the number of data centers and rapid digitization.
The use of silicon products significantly increases the processing and computing capabilities of data centers and reduces cost. This is likely to fuel the growth of the silicon photonics market. Silicon photonics products are progressively developing standard solutions for high-speed transmission due to their low power consumption, reliability, cost-effective features and higher integration. They have emerged as ideal alternatives to traditional electronic elements.
Growing application of silicon photonics in various industries such as healthcare, IT, metrology, electronics, and defense, among others, is expected to escalate the growth of the silicon photonics market worldwide. Additionally, the inclusion of silicon photonics in light detection and ranging (Lidar) to assess pollutants and support autonomous driving among autonomous cars is likely to aid new growth opportunities in the market. The growing trend of miniaturization of electronic devices and the increasing development of the semiconductor and electronics industries are expected to boost the sales of silicon photonics products in the coming years.
Geographically, the North American region is projected to register significant growth in silicon photonics market share due to increasing demand for data transfer, initiatives by governments, and early adoption of innovative technologies. Meanwhile, the Asia Pacific region is expected to witness market growth due to growing economies in the region along with significant consumption and production of electronics in China.
Major market players
Key players in the global silicon photonics market report are Cisco Systems, Inc., Intel Corporation, IBM Corporation, NeoPhotonics Corporation, Hamamatsu Photonics KK, and STMicroelectronics NV, among others. The report covers market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other recent developments of these market players.
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