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According to a new report by EMR titled, ‘Global Silicon Photonics Market Report and Forecast 2021-2026’, the global market for silicon photonics is expected to grow at a CAGR of 25% in the forecast period of 2021-2026 to reach a value of USD 4 billion by 2026.
The global market for silicon photonics is witnessing a rapid growth due to its rising demand among the application sectors. The growing demand for live streaming and broadcasting, requiring quick and reliable wireless connectivity, is boosting the global demand for 5G. The market is especially expected to witness a robust growth in the Asia Pacific region due to the thriving consumer electronics industry in the region. The growth in the consumer electronics segments is supported by the rising disposable incomes of the consumers. The availability of affordable electronics, primarily by local manufacturers, along with the growing digitalisation trend in the region aided by several government programmes, is propelling the growth of the market.
In September 2018, Intel Corporation (NASDAQ: INTC), one of the leading key players, launched its silicon photonics products, which are designed to optimise data transmission through computer chips using optical rays, offering the largest cloud and corporate data centre 100 gigabit per second connectivity. Such developments are expected to aid the growth of the company in the industry, wlong with strengthening the overall market.
Market Analysis by Product, Component, Waveguide, Application, and Region:
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The major players in the global silicon photonics market are Cisco Systems, Inc., Intel Corporation, IBM Corporation, NeoPhotonics Corporation, Hamamatsu Photonics K.K, and STMicroelectronics International N.V., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.
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