NEW YORK, June 12, 2023 /PRNewswire/ — The silicon photonics market will grow at a rate of 27.5% by the end of this decade, to reach USD 8,475.1 million by 2030, according to the recent market research study published by P&S Intelligence.
This is because of the increasing requirement for data centers and high-performance computing, along with the rising need for data transmission at high speeds.
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5G and other advanced network technologies are becoming available to an ever-expanding customer base, which is why the necessity for storing massive volumes of data and accessing it rapidly is gaining momentum. A lower network latency for high-volume internet traffic is a key requirement for effective digital information.
Thus, the telecom category will have a considerable share of the market in 2030. This is because of the rising deployment of 5G technologies for efficient data transfer and better connectivity.Essentially, the increasing acceptance of 5G-enabled smartphones will force telecom firms to make this network technology available to everyone.Similarly, the requirement for better-quality access to high-speed internet and associated network services is continually snowballing. Users of smartphones and other gadgets want to access numerous types of digital information, which is driving the expansion of 5G availability.
Another key driver for the market is the rising number of data centers around the world for enabling digitalization. These spaces house an array of high-performance computing, data storage, and communication systems. Here, silicon photonics helps in catering to these applications and reducing their power consumption.
In 2030, the North American industry will have the largest revenue share, of approximately 40%. This will be due to the existence of cutting-edge manufacturing facilities and the rigorous R&D activities for refining manufacturing and the overall efficacy of silicon photonics.
The U.S. is the major contributor in North America, as stated by P&S Intelligence. This is because it is an advanced nation in terms of the technologies in usage in the activities of daily life. Moreover, silicon photonics has an important role in the country’s defense sector, which is the largest in the world.
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Additionally, the Governments of India is offering support to the semiconductor industry to augment electronic goods production within the nation. Few of the schemes of the Government of India in this regard are PLI, EMC 2.0, and a Scheme for the Promotion of Manufacturing of Electronic Components and Semiconductors.
Under these schemes, around 30% of the expenses for setting up semiconductor manufacturing facilities for silicon photonics and other products would be covered as monetary support. Moreover, Canada, the U.S., and China are promoting manufacturing and R&D for advancing the effectiveness of semiconductors.
Silicon Photonics Market Segmentation Coverage in the Report
Silicon Photonics Market Segmentation by Product
TransceiversVariable Optical AttenuatorsSwitchesCablesSensorsOthers
Silicon Photonics Market Segmentation by Component
Silicon Photonics Market Segmentation by Waveguide
400–1,500 nm1,310–1,550 nm900–7,000 nm
Silicon Photonics Market Segmentation by Application
AutomotiveData CentersTelecommunicationsMilitary & DefenseAerospaceLife Sciences
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