The global Silicon Photonics Market is expected to reach USD 4.62 Billion by 2027, according to a new report by Emergen Research. The rapid growth in the usage of smartphones and internet services has led to the increased use of silicon photonics transceivers for telecommunications applications and is anticipated to fuel demand in the market for silicon photonics. The government's influence on the population to shift towards e-banking and internet-based money banking is also expected to drive the silicon photonics market. Besides, characteristics such as low environmental impact, high interconnectivity capacity, low operating costs, low failure rate, and spectral performance are expected to propel the silicon photonics market demand. The introduction of 5G technology and growing demand for bandwidth will provide an option for corporations to expand their R&D initiatives in the photonics sector. In 5G connectivity, this modern system will help to channel a large volume of data traffic at a low cost and to transform the radio access network efficiently.
Major Players/Manufacturers profiled in the report are:
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. among others.
Some Key Highlights from the Report
The Optical Cable segment is expected to dominate the market due to the capability of transmitting high data rates in the long-range. The transceivers segment is anticipated to experience steady growth due to its high integration capability, which allows high-speed data transmission, as well as the capability to consume low power.
The laser segment is expected to dominate the market with a significant share of 33.7% over the forecast timeframe due to the increasing development of tunable lasers and hybrid silicon. The waveguide segment is projected to grow substantially owing to the wise use of this component in the telecommunication sector.
The telecommunication industry is anticipated to witness the highest market growth rate throughout the forecast period due to the implementation of 5G technologies to deliver higher bandwidth and high-speed data transfer. As a result of developments in remote diagnostics and remote surgery in the medical and healthcare industries, the demand for silicon photonics is expected to expand in the healthcare industry.
North America has the largest market for multiplexer wavelength filters, and silicon optical modulators, become a lucrative destination for businesses to start the silicon photonics market due to government encouragement. The Asia-Pacific is expected to grow significantly due to an increasing population, growth in urbanization, and rising demand for data transmission.