LONDON, April 26, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the silicon photonics market, growing demand for high-speed broadband services is expected to propel the growth of the silicon photonics market. High-speed broadband services are widely used in mobiles and laptops, smart home applications, online education, virtual private LAN services, interactive gaming, and others. Silicon photonics technology uses a sub-micrometer SOI (silicon on insulator) platform, which is widespread in the field of fiber optic interconnects, which helps with better data transmission both between and within microchips. According to the Organization for Economic Co-operation and Development, Austria, Belgium, Chile, Ireland, Israel, and the United Kingdom all increased their fiber connections by more than 50% in 2020. Additionally, during the COVID-19 pandemic in 2020, in 38 OECD (Organization for Economic Co-operation and Development) countries, the number of new broadband connections stood at a massive 21.15 million. Therefore, the growing demand for high-speed broadband services is driving the growth of the silicon photonics market.
The global silicon photonics market share is expected to grow from $1.20 billion in 2021 to $1.49 billion in 2022 at a compound annual growth rate (CAGR) of 24.13%. The change in the silicon photonics market growth trend is mainly due to the companies' stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic. The market size is expected to reach $3.44 billion in 2026 at a CAGR of 23.23%.
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Technological advancements are a key trend gaining popularity in the silicon photonics market, with companies launching new products with advanced technologies such as high power and optical filtering tolerance. For instance, in September 2021, NeoPhotonics Corp, a US-based designer and manufacturer of silicon photonics, launched a CFP2-DCO module with 0dBm output power for ROADM-based metro, regional, and long-haul networks. This product has a transmission speed of 400 Gbps over a range of 1,500 km. This system contains an ultra-pure Nano tunable laser, as well as a Class 40 coherent receiver and coherent driver modulator that can transmit data at up to 67 Gbaud. This allows for longer-distance transmission while also improving the receiver optical signal-to-noise ratio (rOSNR).
Major players in the silicon photonics market are Acacia Communications, Broadcom Ltd., Cisco Systems, MACOM Technology, Finisar Corporation, Globalfoundries Inc., IBM Corporation, Ii-Vi Incorporated, Inphi, Intel Corporation, Juniper Networks, Mellanox Technologies, NeoPhotonics, Ranovus, Rockley Photonics Ltd., Sicoya, Luxtera, and Reflex Photonics Inc.
TBRC’s global silicon photonics market research is segmented by product into transceivers, variable optical attenuators, switches, cables, sensors; by component into laser, modulator, photodetector, filter, wave guide; by application into data centers and high-performance computing, telecommunication, military, defense and aerospace, medical and life science, others.
Asia Pacific was the largest region in the silicon photonics market in 2021. Asia Pacific is expected to be the fastest-growing region in the global silicon photonics market during the forecast period. The regions covered in the global silicon photonics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Silicon Photonics Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide silicon photonics market overviews, silicon photonics market analyze and forecast market size and growth for the whole market, silicon photonics market segments and geographies, silicon photonics market trends, silicon photonics market drivers, silicon photonics market restraints, silicon photonics market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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