July 04, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Silicon Photonics Market.
It was estimated prior to this unanticipated outbreak that the Silicon Photonics Market is likely to witness an impressive CAGR of 20.5% during the forecast period. The prime factor that is contributing to the growth of the market for silicon photonics is mainly the surge in demand for high-speed data transmission in data centers, globally.
Market Scope & Segmentation
Silicon Photonics are the applications of photonic systems employing silicon as an optical medium. The silicon materials used in such photonic systems are deployed into micro photonic components as they are designed with sub micrometer precision. The silicon photonics system functions at the wavelength of 1.55 micrometer that comes under the infrared spectrum and is most frequently used for optical communications.
Silicon Photonics are of different types, such as switch, transceiver, cable, sensor, and variable optical attenuator, that are used in various end-use industries, such as data center, telecommunications, military & defense, and others.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Based on the product type, the market is segmented as switch, transceiver, cable, sensor, and variable optical attenuator. The transceiver segment held the largest share of the market in 2020, and is expected to remain dominant during the forecast period. The wide use of transceivers in data center and high-performance computing; telecommunications; and military, defense, and aerospace is driving the growth of this segment.
Based on the application type, 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) application, which has led to an increase in demand for data centers, globally. Thus, the data center and high-performance computing segment is expected to remain dominant during the forecast period.
In terms of regions, 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 center, 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.
Key players operating in the global Silicon Photonics market are-
- Hamamatsu Photonics
- Mellanox Technologies
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Silicon Photonics analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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