Silicon Photonics Market: By Product, Application, Waveguide, Component, and region
Global Silicon Photonics market is valued at USD 1.08 Billion in 2021 and is projected to attain a value of USD 3.59 Billion by 2028 at a CAGR of 25.8% during the forecast period, 2022–2028. Silicon Photonics is an enabling technology that provides high performance in data transfer speed and distance, which leads to cost-saving for optical system architectures. The main benefits of Silicon Photonics are: 1) High bandwidth; 2) Low power; 3) Large transmission distance; 4) Cost savings. These benefits make it possible to integrate various functions in information processing like functionalities for optical transceiver modules (OTM), wavelength selective switch (WSS), transparent optical crossconnect (OXC), wavelength monitor (WM), optical Ethernet switch/router, coherent receiver module, etc. Therefore, the demand for Silicon Photonics has been increasing recently because the diverse application areas have increased significantly.
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Growing focus on Reducing Power Consumption to Drive Growth of Silicon Photonics
Power consumption has increased drastically with the size of data centers. To reduce power consumption, telecommunication companies are now looking at parallelization and optical interconnections to minimize the usage of copper cables.
Global Silicon Photonics market is segmented by Product (Transceivers, Switches), Application (Data Center & High-performance Computing, Telecommunication), Waveguide, Component, and Region.
Some of the key players in the global Silicon Photonics market are Intel (US), Cisco Systems (US), GlobalFoundries (US), MACOM Technology (US), NeoPhotonics (US), II-VI (US), IBM (US), InPhi (US), Rockley Photonics (US), and STMicroelectronics (Switzerland).
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