The latest research study “Silicon Photonics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” by IMARC Group, finds that the global silicon photonics market size reached US$ 1.34 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.80 Billion by 2028, exhibiting a growth rate (CAGR) of 27.2% during 2023-2028.
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Silicon photonics (SiPh) refers to an optical medium in the design and manufacturing of photonic devices. It is an advanced technology that facilitates significant improvements in density, performance, and economics to make next-generation optical communications networks a reality. SiPh usually involves the usage of optical rays to transmit data within computer chips. It is widely used in high-performance computing, sensors, biomedical, optical datacom, astronomy, data centers, virtual reality, and AI-based applications. Silicon photonics transfers more information while consuming less power without any signal degradation. In addition to this, it also enables high bandwidth and offers optical data storage. Consequently, silicon photonics finds extensive applications across various sectors, such as healthcare, telecommunications, automotive, consumer electronics, defense, etc.
Silicon Photonics Market Trends and Drivers:
The escalating demand for SiPh in high-bandwidth optical transceivers to support data centers and high-performance computing (HPC) applications is among the primary factors driving the silicon photonics market. Besides this, the increasing need for advanced safety technologies, including optimal vision, in automobiles is further augmenting the market growth. Moreover, key market players are focusing on the development of advanced transceivers integrated with light detection and ranging (LIDAR), which is also catalyzing the global market. Apart from this, the widespread adoption of automated manufacturing practices and the growing number of data centers are acting as significant growth-inducing factors. Furthermore, the inflating popularity of SiPh, as it is highly efficient and allows increased signal transmission via optical fiber than electrical indications sent through copper, the rising usage of cloud computing, and the introduction of 5G technology are anticipated to propel the silicon photonics market over the forecasted period.
Silicon Photonics Market 2023-2028 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Who are the key players in the Silicon Photonics Market?
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The report has segmented the market on the basis of
Product Insights:
The report has provided a detailed breakup and analysis of the silicon photonics market based on the product. This includes transceivers, active optical cables, optical multiplexers, optical attenuators, and others. According to the report, transceivers represented the largest segment.
Component Insights:
The report has provided a detailed breakup and analysis of the silicon photonics market based on the component. This includes optical waveguides, optical modulators, photodetectors, wavelength-division multiplexing (WDM) filters, and laser. According to the report, laser represented the largest segment.
Application Insights:
The report has provided a detailed breakup and analysis of the silicon photonics market based on the application. This includes IT and telecommunications, consumer electronics, healthcare and life sciences, commercial, defense and security, and others. According to the report, IT and telecommunications represented the largest segment.
Breakup by Region:
Key highlights of the report:
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