Silicon Photonics Devices Market
A newly evolving technology in the semiconductors and electronics sector, the silicon photonic devices are being accepted in the market at an accelerated rate. The market is experiencing a great clamor due to efficient cloud computing practices and the automation sector in concern with providing safer technologies in vehicles. Recent research done by Emergen Research suggests that the Global Silicon Photonics Devices Market was valued at USD 879.3 Million last year and is growing at an average annual rate of 23.2% with an expectancy to reach USD 4,328.5 Million by the year 2027.
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The Asia Pacific region is experiencing strong growth in data centers, consumer electronics manufacturers, and transport networks. The ever-growing telecommunication sector in the developing countries is also propelling the demand for silicon photonic devices in the region.
Key participants include: Broadcom Limited, Acacia Communications, Inc., Finisar Corporation, Cisco Systems, Inc., Huawei Technologies Co., Ltd., Hamamatsu Photonics K. K., Infinera Corporation, IBM Corporation, Intel Corporation, and Luxtera, among others.
The Silicon Photonics Devices market is substantially driven by the escalating trend in the IoT sector as the need for the number of data points continues to increase. The devices help conserve power while at the same time, initiate a large transfer of data with increased bandwidth. With the growing incorporation of IT sector, they are also being introduced in the healthcare department in the form of refractive sensing and lab-on-chip solutions and as optical cables and multiplexers in the telecommunications department. Moreover, research promotes the upscaling of this industry due to the emerging need for better, reliable, and low-cost economies.
For more information in the analysis of this report, visit: https://www.emergenresearch.com/industry-report/silicon-photonics-devices-market
The Asia Pacific region is observing a huge demand in need for silicon photonic devices and is anticipated to rise globally with an average growth rate of 25.6% by the end of the coming decade. The North American region is currently dominating the market with its soaring growth in the IT sector and state-of-the-art technology and research facilities.
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