Silicon Photonics Market to USD 10.16 billion from 2022 to 2027, Market driven by increasing need for higher bandwidth - Technavio

NEW YORK, Sept. 22, 2023 /PRNewswire/ -- The "Silicon Photonics Market by application (Communications, Consumer electronics, and Others), component (Lasers, Modulators, and Photodetectors), component (lasers, modulators, and photo detectors) and geography (North America, APAC, Europe, South America, and Middle East and Africa) - Forecast and Analysis 2023-2027" report has been added to technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the silicon photonics market between 2022 and 2027 is USD 10.16 billion. The increasing need for higher bandwidth is notably driving the growth of the market. The growth of internet bandwidth is propelled by two key factors such as the increasing utilization of mobile computing devices like smartphones, tablets, and advanced wearables, coupled with the rise of disruptive technologies reshaping how users connect to the network. In addition to this, telecom companies have a significant opportunity to tap into less developed regions with slower internet speeds, creating new markets. Moreover, the adoption of silicon photonics has already showcased rapid data transmission rates and holds the potential for achieving even faster speeds at a reduced cost in the future. As a result, silicon photonics is seeing widespread adoption, and the target market is expected to experience substantial growth during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

Market Challenge

The lack of global standards and guidelines affects the growth of the market. Market participants employ their own techniques to chart customer traffic, monitor performance, and identify or resolve disruptions. In networks operated by a single entity using equipment from a sole provider, standardization issues are not encountered. However, as networks expand, develop, and interconnect, standardization challenges have emerged. Additionally, the absence of standardized error detection and warning indicators means that errors cannot propagate to other network sections or cross operator boundaries, resulting in a loophole where consumers complain about signal issues, and operators remain unaware of the faults. This challenge's impact is expected to diminish as the market matures and establishes standards during the forecast period.

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The silicon photonics market is segmented by application (Communications, Consumer electronics, and Others), component (Lasers, Modulators, and Photodetectors), and geography (North America, APAC, Europe, South America, and Middle East and Africa). 

• The market share growth by the communications segment will be significant during the forecast period. Communication, a vital global sector encompassing the transmission of messages, texts, images, videos, documents, and more via optical systems, relies significantly on silicon photonics for ultra-fast data transmission. The surging demand for silicon photonic devices like receivers, transmitters, and modulators is primarily driven by the escalating requirements for greater bandwidth and reduced latency. A pivotal catalyst in the growth of the global silicon photonics market is the advancement of fifth-generation (5G) networks in the communications sector. The evolution of 4G networks and the emergence of 5G technology are set to expand the utilization of silicon photonics in the field of communication. Leading market players have responded to the increasing need for enhanced bandwidth and reduced latency by introducing silicon photonic products. Silicon photonics, offering low latency and high capacity at a cost-effective and energy-efficient rate per bit, is well-positioned to support 5G networks. Consequently, the growing demand for 5G networks is expected to drive the demand for silicon photonics during the forecast period.                                                                                                       
• North America is estimated to account for 41% of the global market during the forecast period. 

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Key Companies in the silicon photonics market:

AIO Core Co. Ltd., ams OSRAM AG, Ayar Labs Inc., Cisco Systems Inc., Corning Inc., Hamamatsu Photonics KK, II VI Inc., Infinera Corp., Innolume GmbH, Intel Corp., International Business Machines Corp., IPG Photonics Corp., MACOM Technology Solutions Inc., NKT Photonics AS, Nokia Corp., NVIDIA Corp., OSCPS Motion Sensing Inc, RANVOUS Inc., Sicoya GmbH, and TRUMPF SE Co. KG 

Related Reports:

The Photonics Market size is estimated to grow at a CAGR of 6.11% between 2022 and 2027. The market size is forecast to increase by USD 287.13 billion.

The silicon carbide market for semiconductor application market size is estimated to grow at a CAGR of 22.1% between 2022 and 2027.

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Application 

Market Segmentation by Component 

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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