Market Insights
Market Research Future reports say the global Silicon Photonics Market would reach USD 2,518.59 Million of its expected related valuation by 2024, above its former valuation of USD 742.48 Million that was in 2018. The expected rate of growth for the market is calculated to be 22.93% CAGR during the years from 2018 to 2024.
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Market’s Top Drivers & Challenges
The bourgeoning technology of silicon photonics has been one of the prime reasons for the uplift of the global silicon photonics market. In this technology, data is transferred with the help of light rays between different computer chips. The rise in the semiconductor industry has simultaneously given a push to the market of silicon photonics, which strived it towards positive growth prospects. Therefore, the applications of silicon photonics in the industry enable high-volume assembly low-cost, and with supporting 100 gigabits per second transmission on chips. These factors have eventually assisted the market growth and will continue with this in the forecast period.
At the same time, the surge in the telecommunication industry has also been one of the essential factors leading to the global silicon photonics market. The main advancements in silicon photonics in terms of high-density data communication, which is known to be reliable, less energy-consuming, as well as cheaper, are yet more grossing factors leading the market to grow in the forecast period.
In fact, various manufacturers from top-grossing regions such as North America are investing in developing the capability of silicon photonics that will elevate its business, resulting in leading the silicon photonics market growth in the assessment period. Therefore, owing to the rising demand for better high bandwidth and power efficiency, the global silicon market valuation is going to rise higher in the coming years.
Segmentation of Market
The global Silicon Photonics Market is further segmented among end-users, Products, and components.
In terms of end-users: Consumer electronics, IT & telecommunication, commercial, military and defense, healthcare are the segments.
In terms of Product: Active Optical Cable, Transceivers, Variable Optical Attenuators, Optical Multiplexers, Optical Engines are the segments.
In terms of component: Photodetector, Laser, Micro-Optics (Micro Lens, Micromirror, Light Diffuser, Beam Shapers, and Others) Modulator, and Passive Optic Components (Silicon Lens (Hemispherical, Plano-Convex, and Others), Optical Receptacles, AWG Terminals, Optical Isolators, Mux/Demux Modules, and Micro-Optical Filters) are the segments.
Regional Framework
North America, Asia-Pacific, Europe, South America, and Middle East & Africa are the top-grossing regional market for silicon photonics.
Among these, North America has a high possibility of leading the global silicon photonics market during the assessment period. The market growth in this region is due to the developments in the remote surgeries, and remote consultation in the medical and healthcare industries. The study also reveals that as per a report by Cisco, North America leads among all regions with a regular mobile download speed of 34.3 Mbps and upload speed of 15.5 Mbps. In fact, the growing demand for consistent as well as surged network data and information transfer speed are impacting the North America silicon photonics market.
The rapid technological up-gradation is taking place in the Asia-Pacific region, which has motivated the market growth. In fact, other factors that support the growth of the market in this region are the rapidly rising population, urbanization, and mounting demand for data transfer in the Asia Pacific region.
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Key Market Players
The well-known players of the Global Silicon Photonics Market are listed as Cisco Systems Inc. (US), Intel Corporation (US), Infinera Corporation (US), Mellanox Technologies Ltd (Israel), Hamamatsu Photonics K.K (Japan), IBM Corporation(US), Finisar Corporation (US), STMicroelectronics NV (Switzerland), AIO Core Co. Ltd (Japan), IPG Photonics Corporation (US), FLIR Systems (US), SICOYA (Germany), NKT Photonics (Denmark), and DAS Photonics (Spain).
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