Silicon Photonics Market Share Growing Rapidly with Recent Trends and Forecast by 2026
The silicon photonics market is poised for robust growth on the back of its significant application scope across the telecommunication sector. In recent years, the telecommunications sector has recorded significant growth with the advent of new technologies such as 4G, 5G, social networking, cloud, and smartphone. The burgeoning internet penetration rate demands a greater bandwidth for offering uninterrupted service to the users. This has led to increasing demand for silicon photonics technology for high-speed connectivity and improved customer experience. On this note, it is expected that the silicon photonics industry will witness significant growth over the forecast period.
As per a study conducted at GMI Inc, the silicon photonics market size is expected to exceed 3 billion through 2026.
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Top 3 trends accelerating the silicon photonics industry growth
Growing demand for data centers across the world
In recent years, the world’s appetite for big data is growing significantly, driven by applications ranging from streaming media platforms, social networks to genomics-driven medicine, and the proliferation of IoT. This has prompted technology companies across the world to deploying data centers worldwide.
In these data centers, fiber-based optical interconnects can be used to offer point-to-point links enabling high-bandwidth data communications. In order to provide for future network scalability, companies have been using silicon photonics technology that is capable of carrying substantially more amount of data in a less amount of time. In addition, silicon photonic devices play a pivotal role in high-bandwidth, multi-channel, and optical communication technology, thereby accelerating the silicon photonics industry over the forecast period.
Accentuating demand across the APAC
APAC silicon photonics market is anticipated to record prominent growth owing to the growing deployment of cloud technologies in the region. Citing an instance to highlight the same, in April 2020, Alibaba announced its plan to invest USD 28.2 billion in the construction of data centers and cloud technologies over the next three years, as it moves ahead with digital transformation efforts in a post-pandemic world.
Therefore, the burgeoning efforts towards the deployment of data centers coupled with the significant deployment of silicon photonics technology for improved customer experience and high-speed connectivity may accelerate the market growth in the region.
Meanwhile, the LAMEA silicon photonics market recorded growth at a rate of 20% in 2019, owing to increasing 5G deployment in the region.
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The strong presence of industry participants
Silicon photonics is anticipated to record prominent growth over the forecast period owing to the strong presence of industry participants. The significant application scope of this technology across numerous high-revenue industries such as automobile, data center, commercial, telecommunication, and medical are encouraging industry participants to explore numerous use cases.
In March 2020, leading silicon photonics chips maker SiLC, raised $12M to offer a LiDAR solution for autonomous vehicles. The company will use the funding to improve operations and R& D to develop its FMCW (frequency modulated continuous wave) silicon photonic 4 D+ vision chip platforms. Aided by initiatives like the aforementioned, it comes as no surprise that silicon photonics will record significant growth over the forecast period.
Table of Contents (ToC) of the report:
Chapter 1. Methodology and Scope
1.1. Methodology
1.1.1. Definition and forecast parameters
1.1.1.1. Definitions
1.1.1.2. Assumptions, methodology and forecast parameters
1.2. Data Sources
1.2.1. Primary
1.2.2. Secondary
Chapter 2. Executive Summary
2.1. Silicon photonics market 3600 synopsis, 2016 - 2026
2.1.1. Business trends
2.1.2. Regional trends
2.1.3. Product trends
2.1.4. Component trends
2.1.5. Application trends
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