Silicon Photonics Market Global Trend, Segmentation and Opportunities Forecast to 2026

Silicon Photonics Market Global Trend, Segmentation and Opportunities Forecast to 2026

The silicon photonics market analysis document represents a detailed collection of prioritized market definitions, industry scope and reach, and pivotal industry insights. Information about the many pitfalls of the market as well as the frequent challenges encountered by core industry players have been summarized in the report. That apart, the document also endorses details about the numerous driving parameters impacting the revenue landscape of this vertical.

The silicon photonics market is expected to register sizable revenue growth owing to rising adoption of innovative technologies like 5G. The advent of 5G technology is likely to intensify the demand for high bandwidth to provide enhanced network communication, supporting the demand for silicon photonics.

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In terms of applications, the industry is majorly classified into medical, telecommunication, and data center & HPC. Among these, the medical sector is estimated to record a compound annual growth rate of more than 30% over the forecast period.

This growth can be contributed to the rising use of photonics biosensors in medical monitoring and diagnostics processes that improves the Point-of-care (POC) diagnostics by providing miniaturization capability and high sensibility in biosensors.

Development of new technologies that utilize silicon photonics and cater to the needs of the medical sector may aid market growth. Taking January 2019 for instance, research and innovation hub in digital technology and nanoelectronics, Imec partnered with Ghent University alongside CARDIS project partners like Medtronic to develop a prototype medical instrument built using silicon photonics. The device would be used for diagnosing cardiovascular diseases like heart failure and arterial stenosis, as well as for screening of arterial stiffness.

Prominent players operating in the silicon photonics market are focusing on developing innovative products by investing in multiple R&D activities geared towards improving the technology’s performance. Companies are also looking to enter into new strategic relationships with an aim to expand their product portfolio and geographical presence.

In March 2017, Luxtera, one of the leading silicon photonics solution providers, inked a strategic partnership deal with TSMC for the manufacturing of next-generation silicon photonics. Together, both the firms would concentrate on developing an advanced silicon photonics technology platform that would offer unparalleled optical link performance.

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Currently, companies like Cisco Systems Inc., Intel Corporation, Hamamatsu Photonics K.K., Global Foundries, Juniper Networks Inc., IBM Corporation, Broadcom, NeoPhotonics Corporation and STMicroelectronics are at the forefront of the global silicon photonics market.

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