Risen Funding is Surging Global Silicon Photonics Market at 19.70% of CAGR by 2027
“According to a new market research report published by Inkwood Research, the global silicon photonics market is projected to rise at a CAGR of 19.70% throughout the forecasting years of 2019-2027.”
“Browse 34 market Data Tables and 66 Figures spread over 200 Pages, along with an in-depth TOC on Global Silicon Photonics Market Forecast 2019-2027.”
Silicon photonics is the emerging technology in which data is transferred using optical rays among computers. It helps in minimizing time and cost by transferring large data easily in minimum time. It also participates in eliminating the limitations of metal in networking areas and improves the connectivity and performance of the computers and chips. It is based on the combination of silicon and laser technology on a single chip.
The global market is surging due to advanced technology and high-speed data transfer. Another reason behind this proliferation is the risen investment from private, public as well as government entities. For instance, the European Union invested in more than 50 photonic research projects and is anticipated to continue its funding in the future.
Need for Speedy Data Transfer Boosts the Global Silicon Photonics Market
The increasing need for faster data transfer is majorly driving the silicon photonics market globally. One of the prime benefits of installing a silicon photonics chip is it eliminates the issue related to bandwidths. Optical mediums tend to offer comparatively more bandwidth solutions and low problems related to signal integrity as compared to the traditional means. The present bandwidth in the multicore processor is likely to upsurge, owing to the increased similarity in the processor design, which allows computing devices to use throbs of light for faster data transfer. Optical links possess capabilities to transfer data up to the range of 1km.
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Telecommunication to Run the Application Segment During the Forecast Period
The telecommunication market is under the constant burden of technological up-gradation to improve network performance, such as instant connectivity and communications. Silicon photonics is a technology that overtook all other technologies in terms of providing faster data transfer for the telecom sector. In the conventional transfer modes, there was always a threat of data loss or damage, but with the optical technologies, it has been eliminated to a greater extent. Faster development of communication system has increased the challenges for computing and telecom industries in regards to cost and efficiency, etc. This is fueling the need for silicon photonics and electronic integration, which will strengthen the overall market.
North America is the Fastest-Growing Region of the Global Silicon Photonics Market
The silicon photonics market has grown tremendously in North America and is expected to grow further, as the price of silicon photonics technology-based products is likely to see a downturn. Canada holds a small share in the North American market share, but it is believed that it will grow at a significant pace during the forecast period. To meet the ever-growing demand for the optical products, the company’s have started to set their bases in Canada. Although silicon photonics may not affect economic growth, the growing technology will help to sustain and create jobs in the region.
The technological giants have started to focus on silicon photonics to counter its growing demands. This, at the same time, led to an increase in the adoption of new technology over conventional cable technology. Some major producers of optical technology are ADVA, INTEL, Hamamatsu, Cisco, etc. The various strategies adopted by these companies to continue their leadership are a collaboration, product launch, contracts, acquisitions, and mergers. E.g., Cisco acquired Luxtera to build its silicon photonics.
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Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with relevant fact-based research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy; with an objective comprehension that acknowledges the business environments. Our geographical analysis comprises of North & South America, CEE, CIS, Middle East, Europe, Asia, and Africa.