According to a new report by Emergent Research, the global Silicon Photonics Market is expected to reach USD 4.62 billion by 2027. The rapid adoption of smartphones and internet services has increased the use of silicon photonics transceivers for telecommunications applications and is expected to fuel demand in the silicon photonics market. The government’s influence on the population to shift toward e-banking and internet-based money banking will also drive the silicon photonics market.
Medical and life sciences, military, telecommunications, and data centers, among others, are some of the industries that use silicon photonics, driving demand globally. The increasing adoption of automated manufacturing practices and novel technological developments are expected to boost market growth globally. The current use of silicon in the development of integrated circuits is motivating several companies to adopt silicon photonics technology.
The growing demand for faster data transfer is causing various manufacturers to shift toward this technology to improve data centers’ computational and processing capabilities. As a result, silicon Photonics is expanding at a healthy clip. Many manufacturers are taking initiatives and investing in silicon photonics technology to gain a competitive advantage, which is also driving the market growth. Over the forecast period, the growing demand for low power consumption, high bandwidth, and high data transfer capabilities is expected to boost the silicon photonics market.
Some Key Highlights from the Report
Because of its ability to transmit high data rates over long distances, the Optical Cable segment is expected to dominate the market. The transceivers segment is expected to grow steadily due to its high integration capability, which allows for high-speed data transmission while consuming little power.
Heat and other noise sources can disrupt optical communications in silicon photonics applications, pushing light into frequencies that are normally filtered out. Until those filters are modified, data may be lost or incomplete, and reconstruction may be difficult in the case of streaming data. However, predicting when and how physical processes alter light is not always easy, making the changes more difficult.
Due to the increasing development of tunable lasers and hybrid silicon, the laser segment is expected to dominate the market with a significant share of 33.7% over the forecast timeframe. Because of the wise use of this component in the telecommunications sector, the waveguide segment is expected to grow significantly.
IBM Corporation, Cisco Systems Inc., AIO Core Co. Ltd, Intel Corporation, Infinera Corporation, Mellanox Technologies Ltd, IPG Photonics Corporation, NKT Photonics, STMicroelectronics NV, and Hamamatsu Photonics K.K. are among the key participants.
Emergen Research has segmented the global Silicon Photonics Market based on product, component, end-use, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Optical Attenuators
- Optical Cable
Component Outlook (Revenue, USD Billion; 2017-2027)
End-Use Outlook (Revenue, USD Billion; 2017-2027)
- Consumer Electronics
- Telecommunication & IT
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- the U.S.
- the UK
- Rest of Europe
- the Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
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