Market Analysis
The global silicon photonics market will touch USD 2,518.59 million at a 20.71% CAGR in the forecast period (2020- 2027), states the latest Market Research Future’s (MRFR) silicon photonics market forecast report.
Market Segmentation
The silicon photonics market is segmented based on product, component, and end user.
By product, the transceivers segment will lead the market over the forecast period.
By component, the laser segment will dominate the market over the forecast period.
By end users, the IT and telecommunication segment will spearhead the market over the forecast period.
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Drivers
Growing Need in High-Speed Broadband Services to Boost Market Growth
The growing need for high-speed broadband services is growing significantly with the increasing adoption in government agencies, commercial and other applications will boost market growth over the forecast period.
COVID-19 Analysis
The COVID-19 pandemic has impacted the overall production capability of the silicon photonics owing to lack of skilled workforce. The falling semiconductor sector in China has majorly restricted the market growth. The growing work from home scenarios has increased the need for 5G technology and high-speed internet connection. This will boost the need for silicon photonics for delivering high bandwidth & high speed data transfer.
Opportunities
Emerging Applications of Silicon Photonics to offer Robust Opportunities
Silicon photonics are used in diverse applications including sensors, high performance computing, and more. The significant deployment of the sensors in autonomous vehicles along with the growing efforts for the development of the autonomous vehicles in analyzed to impact the market.
Restraints and Challenges
Complexity in Integration of On-Chip Laser to act as Market Restraint
The complexity in integration of on-chip laser will act as market restraint over the forecast period.
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Regional Analysis
North America to Have Lions Share in Silicon Photonics Market
North America will possess the lions share in the market over the forecast period. Development in the remote surgeries and remote consultation in healthcare and medical industries, the region being the hub of many technology companies and research and development establishments resulting in prominent technological advancements and innovations, huge steady flow of monetary investments accessible for research related activities from venture capitalists and governments, growing demand for high performance, customized and low cost components in life sciences, telecommunications, and other sectors, and the significant deployment of 5G in major countries like France, China, and the US are adding to the global silicon photonics market share in the region.
Key Players
Eminent players profiled in the global silicon photonics market report include Infinera Corporation (US), Cisco Systems Inc. (US), Intel Corporation (US), IBM Corporation(US), Mellanox Technologies Ltd (Israel), Hamamatsu Photonics K.K (Japan), STMicroelectronics NV (Switzerland), Finisar Corporation (US), FLIR Systems (US), IPG Photonics Corporation (US), NKT Photonics (Denmark), SICOYA (Germany), AIO Core Co. Ltd (Japan), and DAS Photonics (Spain).
The global silicon photonics market is fragmented and highly competitive for the presence of different international & domestic industry players. These players have encompassed innovative strategies to stay ahead and sufficing the customers & surging requirement that comprises contracts, partnerships, geographic expansions, collaborations, joint ventures, novel product launches, and more.
Industry Updates
Imec and Xanadu have partnered to create photonic chips for quantum computing for fabricating ultra-low loss silicon nitride circuits to generate error corrected qubits. Xanadu’s photonic approach offer the perks of scalability to one million qubits through optical networking, room temperature computation, and the ability of leveraging fabrication research and development centers.
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