Global Silicon Photonics Market to Grow at a CAGR of 26.8% During 2024-2032, Aided by the Rising Demand from its Application Sectors

The global market for silicon photonics is witnessing a rapid growth due to its rising demand among the application sectors. The growing demand for live streaming and broadcasting, requiring quick and reliable wireless connectivity, is boosting the global demand for 5G. The market is especially expected to witness a robust growth in the Asia Pacific region due to the thriving consumer electronics industry in the region. The growth in the consumer electronics segments is supported by the rising disposable incomes of the consumers. The availability of affordable electronics, primarily by local manufacturers, along with the growing digitalisation trend in the region aided by several government programmes, is propelling the growth of the market.

In September 2018, Intel Corporation (NASDAQ: INTC), one of the leading key players, launched its silicon photonics products, which are designed to optimise data transmission through computer chips using optical rays, offering the largest cloud and corporate data centre 100 gigabit per second connectivity. Such developments are expected to aid the growth of the company in the industry, wlong with strengthening the overall market.

Market Analysis by Product, Component, Application, and Region:

• The various products in the market include optical multiplexers, active optical cable, fibre optical switches, and transceiver, among others.

• The components of silicon photonics can be divided into photodetectors, laser, and modulators, among others.

• Silicon photonics find wide applications in data centre and high-performance computing, and telecommunications, among others.

• The regional markets for silicon photonics include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The rising trend of miniaturisation of electronic devices, together with the rising demand for efficiency and speed, has led to the robust demand for the product.

• The product is cost-effective and also consumes low power, thus, its market demand is rapidly rising.

• The rising competition among the key players is propelling the industry growth.

• The growing demand for the product in the telecom and data communication sectors is also adding to its market growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for silicon photonics for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the regions.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global silicon photonics market are Cisco Systems, Inc., Intel Corporation, IBM Corporation, NeoPhotonics Corporation, Hamamatsu Photonics K.K, and STMicroelectronics N.V., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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