Selbyville, Delaware, May 24, 2020 (GLOBE NEWSWIRE) --
According to latest report “Silicon Photonics Market by Product (Transceiver, Variable Optical Attenuator, Switch, Cable, Sensor), Component (Active {Laser, Modulator, Photodetector}, Passive {Filter, Waveguides}), Application (Data Center & HPC, Telecommunication, Medical), Regional Outlook, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of silicon photonics will reach $3 billion by 2026.
The sensor segment is slated to expand 40% in the silicon photonics market till 2026. In the coming years, silicon photonics sensors are likely to experience increased adoption from automotive and consumer electronics industries. Through Silicon photonics technology, companies can miniaturize sensors and electronics components, increasing their adoption in advanced consumer electronics applications.
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The modulator component segment is predicted to witness a growth rate of around 30% from 2020 to 2026. The growing demand for optical transmission in data centers to increase bandwidth and deliver high-speed network communications will propel the demand for modulators.
The medical sector in the silicon photonics market is set to observe over 30% gains through 2026. The growth is attributed to adoption of photonics biosensors in medical diagnostics and monitoring processes. The new technology improves the Point-of-care (POC) diagnostics in the medical sector by offering high sensibility and miniaturization capability in biosensors, creating growth opportunities for the market.
Europe silicon photonics market accounts around 30% revenue share in 2019 and is anticipated to register a CAGR of more than 25% during the forecast period due to rapid increase in regional data center establishments on account of rising requirements for huge data storage and transfer from IT & telecom sectors.
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Some of the key players operating in the market are Intel Corporation, Cisco Systems, Inc., Global Foundries, Hamamatsu Photonics K.K., IBM Corporation, Juniper Networks, Inc., STMicroelectronics, Broadcom, and NeoPhotonics Corporation. Companies are focusing on developing innovative products and investing in R&D activities to improve the performance of Silicon photonics technology and gain a competitive edge in the market.
Some major findings of the silicon photonics market report include:
- Transceiver products will contribute to the growth of the market owing to their capabilities to deliver high-speed data transfer and low-power consumption in data center applications.
- The proliferation of 5G technology will increase the requirement for high bandwidth to deliver improved network communication, driving the demand for silicon photonics technology.
- The silicon photonics market is projected to experience significant growth opportunities from the automotive segment in the coming years with rising concern for vehicle safety applications. Companies are also developing Silicon photonics LiDAR chips for autonomous vehicles to cater to high industry competitiveness.
- COVID-19 pandemic has resulted in the growing demand for high-speed internet connections and 5G deployment worldwide. This will propel the demand for silicon photonics among service providers to deliver high-speed data transmission over the internet.
- Rise in funding by investors to enhance research and development activities will add significant growth opportunities for market growth.
Table of Contents (ToC) of the report:
Chapter 3. Silicon Photonics Market Insights
3.1. Industry segmentation
3.2. Industry landscape, 2016 – 2026
3.3. Impact analysis of corona virus (COVID-19) pandemic on the market
3.3.1. Global outlook
3.3.2. Impact by region
3.3.2.1. North America
3.3.2.2. Europe
3.3.2.3. Asia Pacific
3.3.2.4. Latin America
3.3.2.5. MEA
3.4. Industry ecosystem analysis
3.5. Technology & innovation landscape
3.6. Regulatory landscape
3.7. Industry impact forces
3.7.1. Growth drivers
3.7.2. Industry pitfalls and challenges
3.8. Growth potential analysis
3.9. Porter’s analysis
3.9.1. Industry rivalry
3.9.2. Threat of new entrants
3.9.3. Buyer power
3.9.4. Supplier power
3.9.5. Threat of substitutes
3.10. PESTEL analysis
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/silicon-photonics-market
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.