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.
View the Free Sample Report for insights into the contribution of all the segments and regional opportunities in the report.
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.
Silicon Photonics Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 42.81% |
Market growth 2023-2027 |
USD 10.16 billion |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
32.45 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 41% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
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 |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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
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