Worldwide Industry for Silicon Photonics to 2025 - Use in the Oil & Gas Industry Presents Opportunities
DUBLIN, Oct. 22, 2020 /PRNewswire/ -- The "Silicon Photonics Market - Global and Regional Analysis: Focus on Product Types and their Applications, and Countries - Analysis and Forecast, 2020-2025" report has been added to ResearchAndMarkets.com's offering.
The global silicon photonics market accounted for $520.0 million in 2019 and is expected to reach $3.07 billion by 2025. The market is anticipated to grow at a CAGR of 33.95% during the forecast period 2020 to 2025. The rapid expansion of internet and high mobile adoption are some of the major opportunities that the silicon photonics market is lined up within the coming future. Over the years, major players are showing their interest in the silicon photonics market. Players such as Intel Corporation, Cisco Systems, Inc., IBM Corporation and Juniper Networks, Inc. among others are investing to a large extent in the global silicon photonics market in order to improvise their products as well as to capture a major market share.
Exponential growth has been observed in the storage of both structured and non-structured data as the society is transitioning to become a data-centric one. The data storage, computation, and networking are anticipated to bring new possibilities. Organizations are making use of the Big Data to gain agility, identify loopholes, and accordingly work to maximize their potential and transform the businesses. The data centers available today have enormous computational power, processing capacity, and storage facility. However, the increased user requirements and technological innovations have led to the development of new ways of managing and measuring data so that insightful solutions and interpretation can be derived out of the complex pile of big data. Especially during the ongoing situation of COVID-19, when digitalization is one of the most effective tools for sustainability, the requirement of effective data centers and higher speed interconnects have become a necessity.
Silicon photonics is a technology that uses silicon as an optical medium for data transmission. The technology is both cost as well as energy-efficient and majorly helps in resolving problems related to huge data transfer (>100 Gigabyte) and slow internet speed. The problem to transfer huge amount of data swiftly could be resolved through high-density photonic integration with photonics devices.
Some of the strategies adopted by the companies are new product launches, business expansions, and partnerships, and collaborations. Among all the strategies adopted, partnerships and collaborations and product launches have been the leading choices implemented in the competitive landscape. IBM Corporation, II-VI Incorporated, Infinera Corporation, Intel Corporation, and Juniper Networks, Inc. are some of the leading players in the global silicon photonics market. The industry landscape is quite competitive because of the large number of players in the market. Therefore, innovation and development have been the key factors for large scale growth in this market. To increase their overall global footprint, the manufacturers are expanding their businesses and are also entering into strategic partnerships to increase their customer base and overall reach.
Market Report Coverage - Silicon Photonics
Key Companies Profiled
Acacia Communications, Inc., Broadcom Inc., Cisco Systems, Inc., GlobalFoundries, Hamamatsu Photonics K.K., Huawei Technologies Co., Ltd., IBM Corporation, II-VI Incorporated, Infinera Corporation, Intel Corporation, Juniper Networks, Inc., Mellanox Technologies Ltd., Molex Incorporated, NeoPhotonics Corporation, and ST Microelectronics N.V.
Key Questions Answered in this Report:
Key Topics Covered:
6 Research Methodology
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