Report Forecasts Growth of Global Silicon Photonics Market for the Next 9 years

Posted  by GoPhotonics

712370

Polaris Market Research recently published a research report on "Silicon Photonics Market Share, Size, Trends, Industry Analysis Report, By Product, By Component, By Waveguide, By Application; By Region; Segment Forecast, 2022 - 2030" in its research database.

According to a recent research study published by Polaris Market Research, the global silicon photonics market size and share are expected to register a CAGR of 27.4% growth and industry revenue is expected to increase from USD 1.08 Billion in 2021 to reach USD 9.14 Billion by 2030.

What is Silicon Photonics? How Big is Silicon Photonics Market?

Silicon photonics holds a huge potential to study the photonic system using silicon as an optical medium. Silicon Photonics is used to process, manipulate, generate and transmit data among computer chips.  Photonics-based computing promises less energy consumption and faster data transmission than conventional approaches. Silicon photonics technology is also used to create a new generation of miniaturized with low-cost photonic components.

Medical & life sciences, military, telecommunication, and data center, among others, are some of the sectors that incorporate applications of silicon photonics, thus driving the demand worldwide. The growing adoption of automated manufacturing practices and novel technological developments is the factor expected to favor the market growth worldwide. The current use of silicon for the development of integrated circuits is encouraging various companies to adopt silicon photonics technology.

Top Companies in Silicon Photonics Market Are:

Silicon Photonics Market: Growth Drivers

The growing requirement for faster data transfer is enabling various manufacturers to move towards this technology to enhance the computational and processing capabilities of data centers. Therefore, silicon Photonics is experiencing a healthy growth rate. Many manufacturers are taking initiatives in the development of silicon photonics technology and investing in this technology to gain a competitive edge, which is also driving the market growth. The growing need for low power consumption, high bandwidth, and high data transfer capabilities is expected to bolster the silicon photonics market over the forecast period.

The wide range of applications of silicon photonics, including telecom, datacom, data centers, commercial videos, meteorology and sensors, aerospace, as well as other applications such as connecting laptops, PCs, and HDTVs are supporting the growth of the global market. silicon photonics can enhance the processing need of data centers and computation, which is also a key factor driving the growth of the silicon photonics market.

Silicon Photonics Market: Report Segmentation

Insight by Component

Based on components, the market is segmented into lasers, modulators, and photodetectors. The lasers segment held the largest market share in 2020 and is anticipated to continue its dominance over the forecast period. This segment growth can be attributed to the rising demand for hybrid silicon lasers used to curb mass production problems in silicon lasers.

The modulators segment is expected to grow at a faster pace in the projected time period. Modulators alter or change the characteristics such as optical power or the phase of light beams. An optical modulator is used to modify various beam parameters and contains types including phase, polarization, and amplitude modulators.

Insight by Product

Based on product, the market is bifurcated into, transceiver, variable optical attenuator, switch, cable, and sensor. The transceiver segment is generated the largest share in the Silicon Photonics Market. These are small in size and are used to provide high-speed performance in an optical communication system.

Geographic Overview: Silicon Photonics Market

Geographically, Asia Pacific dominated the market with the largest revenue share in the global Silicon Photonics Market. the key factors contributing to this regional growth include rising demand for high-speed internet networks and higher penetration of mobile devices across the region. Increasing developments in the technological sector are supporting the growth of the Silicon Photonics Market in the region. In addition, beneficial government activities and the prevalence of low-cost workforce/labor are expected to boost the market growth.

Moreover, North America is expected to favor the silicon photonics market with a progressive CAGR over the projected years owing to the rising use of high-speed broadband networks. Also, the availability of the leading market players such as Intel, IBM, and Cisco, among others in the United States is projected to create huge market growth opportunities in the market.

Click here to read the report titled "Silicon Photonics Market Share, Size, Trends, Industry Analysis Report, By Product, By Component, By Waveguide, By Application; By Region; Segment Forecast, 2022 - 2030".