Selbyville, Delaware, United States, November 5 2020 (Wiredrelease) Global Market Insights, Inc –:The silicon photonics market is expected to register sizable revenue growth owing to rising adoption of innovative technologies like 5G. The advent of 5G technology is likely to intensify the demand for high bandwidth to provide enhanced network communication, supporting the demand for silicon photonics.
Due to the ongoing COVID-19 pandemic, telecom operators are witnessing a heavy demand for high-speed internet connections around the world. This might also boost the use of silicon photonics as it helps in transmitting high-speed data over the internet.
Considering the benefits of silicon photonics, various investors have begun to pour in funds to expedite new innovation and development activities. Citing an instance, in March 2020, SiLC Technologies revealed that it has secured USD 12 million funding from Dell Technologies Capital. With the help of this funding, SiLC would enhance its operations and research & development process for the development of Frequency Modulated Continuous Wave (FMCW) silicon photonics vision chip system for self-driving vehicles.
Based on such advancements, Global Market Insights, projects that the silicon photonics market might touch USD 3 billion by the year 2026.
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In terms of applications, the industry is majorly classified into medical, telecommunication, and data center & HPC. Among these, the medical sector is estimated to record a compound annual growth rate of more than 30% over the forecast period.
This growth can be contributed to the rising use of photonics biosensors in medical monitoring and diagnostics processes that improves the Point-of-care (POC) diagnostics by providing miniaturization capability and high sensibility in biosensors.
Development of new technologies that utilize silicon photonics and cater to the needs of the medical sector may aid market growth. Taking January 2019 for instance, research and innovation hub in digital technology and nanoelectronics, Imec partnered with Ghent University alongside CARDIS project partners like Medtronic to develop a prototype medical instrument built using silicon photonics. The device would be used for diagnosing cardiovascular diseases like heart failure and arterial stenosis, as well as for screening of arterial stiffness.
Prominent players operating in the silicon photonics market are focusing on developing innovative products by investing in multiple R&D activities geared towards improving the technology’s performance. Companies are also looking to enter into new strategic relationships with an aim to expand their product portfolio and geographical presence.
In March 2017, Luxtera, one of the leading silicon photonics solution providers, inked a strategic partnership deal with TSMC for the manufacturing of next-generation silicon photonics. Together, both the firms would concentrate on developing an advanced silicon photonics technology platform that would offer unparalleled optical link performance.
Currently, companies like Cisco Systems Inc., Intel Corporation, Hamamatsu Photonics K.K., Global Foundries, Juniper Networks Inc., IBM Corporation, Broadcom, NeoPhotonics Corporation and STMicroelectronics are at the forefront of the global silicon photonics market.
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Table Of Content:
Chapter 5. Silicon Photonics Market, By Product
5.1. Key trends, by product
5.2.1. Market estimates and forecast, 2016 – 2026
5.3. Variable optical attenuator
5.3.1. Market estimates and forecast, 2016 – 2026
5.4.1. Market estimates and forecast, 2016 – 2026
5.5.1. Market estimates and forecast, 2016 – 2026
5.6.1. Market estimates and forecast, 2016 – 2026
Chapter 6. Silicon Photonics Market, By Component
6.1. Key trends, by component
6.2.1. Market estimates and forecast, 2016 – 2026
220.127.116.11. Market estimates and forecast, 2016 – 2026
18.104.22.168. Market estimates and forecast, 2016 – 2026
22.214.171.124. Market estimates and forecast, 2016 – 2026
126.96.36.199. Market estimates and forecast, 2016 – 2026
6.3.1. Market estimates and forecast, 2016 – 2026
188.8.131.52. Market estimates and forecast, 2016 – 2026
184.108.40.206. Market estimates and forecast, 2016 – 2026
Chapter 7. Silicon Photonics Market, By Application
7.1. Key trends, by application
7.2. Data center and HPC
7.2.1. Market estimates and forecast, 2016 – 2026
7.3.1. Market estimates and forecast, 2016 – 2026
7.4.1. Market estimates and forecast, 2016 – 2026
7.5.1. Market estimates and forecast, 2016 – 2026
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