News

Jan 20, 2024

Silicon Photonics Market is Projected to Reach US$ 5.98 Billion in 2028

Stratview Research, a leading market research firm has launched a report on the

Stratview Research, a leading market research firm has launched a report on the Silicon Photonics Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.

What are the Top Market Drivers?

According to the report, the Silicon Photonics market is driven by a host of factors, some of which are noted below:

The surge in demand for high-speed data transmission in data centers, globally.

Data is being transmitted between microchips using optical rays more and more frequently.

The increasing demands for internet traffic, and bandwidth reduction.

The growing applications of silicon photonics in biomedical, autonomous vehicles, data transmission, telecom, and artificial intelligence, among other things.

The report also includes growth rate estimates based on the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.

Silicon Photonics Market Segmentation:

Stratview Research has segmented the market in the following ways which fulfil the market data needs of multiple stakeholders across the industry value chain.

By Product Type (Switch, Transceiver, Cable, Sensor, and Variable Optical Attenuator),

By Application Type (Data Center and High-Performance Computing; Telecommunications; Military, Defense, and Aerospace; Medical and Life Sciences; and Sensing),

By Component Type (Active [Laser, Modulator, and Photodetector] and Passive [Filter and Waveguides]),

By Region (North America, Europe, Asia-Pacific, and the Rest of the World).

Silicon Photonics Market Insights

Market Trends by Product Type

The Transceiver segment held the largest share of the market and is expected to remain dominant during the forecast period.

The market is segmented as a switch, transceiver, cable, sensor, and a variable optical attenuator. The wide use of transceivers in data centers and high-performance computing; telecommunications; and military, defense, and aerospace are driving the growth of this segment.

Market Trends by Application Type

The Data Center and High-Performance Computing segment is expected to remain dominant during the forecast period.

The silicon photonics market is segmented as data center and high-performance computing; telecommunications; military, defense, and aerospace; medical and life sciences; and sensing. With the surge in demand for cloud computing, there is an exponential increase in data traffic; various enterprises are shifting towards Software as a Service (SaaS) applications, which has led to an increase in demand for data centers, globally.

Which region offers the best opportunity and growth?

Asia-Pacific is estimated to be the largest as well as the fastest-growing market for silicon photonics during the forecast period, with China, Japan, India, and Australia being the major countries with lucrative growth opportunities.

The growth of the market is driven by the growth of various end-use industries, such as data centers, telecommunications, military & defense, and others, which is generating huge demand for silicon photonics and the presence of a large number of players in the silicon photonics market in the Asia-Pacific region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

COVID-19 Impact on the Silicon Photonics Market

COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.

Who are the Top Market Players?

After a thorough analysis of the market, the experts have listed a few key players and discussed the company profiles of the below-given players -

Acacia

Broadcoam

Cisco

Finisar

GlobalFoundries

Hamamatsu Photonics

Intel

IBM

Mellanox Technologies

STMicroelectronics.