Market Research Report
Global Silicon Photonics Market Forecast 2019-2028
|Global Silicon Photonics Market Forecast 2019-2028|
Published: June 30, 2020
Content info: 364 Pages
Delivery time: 2-3 business days
The global silicon photonics market is estimated to grow at a CAGR of 18.23% during the forecast period, 2019-2028. The factors boosting global market growth are rising need for energy-efficient technology, the requirement for high-speed data transfer, surging investments in the market, increasing internet connectivity, and a rise in smartphone use.
Silicon photonics is a progressing technology that can carry a large amount of data in less time than electric conductors. Silicon photonics helps in saving a huge amount of energy, and also leads to a decrease in financial cost. Since silicon photonics use light as a medium of transferring data, it transfers data much faster than electrical signaling. This helps in saving time, money, and human resources.
Silicon photonics technology generates excessive heat, which can destroy the lives of flora and fauna, and is not considered eco-friendly. The market is highly intense and extremely competitive, due to the initiatives taken by the companies to offer developed and innovative products. Silicon photonics is one such technology that has surpassed other technologies in providing faster means of data transfers to the telecom sector.
The geographical analysis of the global silicon photonics market depends on the market regions of North America, Europe, Asia Pacific, and the Rest of the World. As of 2019, the region of North America captured the largest revenue share, owing to its developed industrial infrastructure investments for dedicated R&D facilities, and the presence of several prominent players.
The major players are involved in frequent acquisitions and coalitions to increase their portfolio, and to gain a competitive edge in expanding their global presence. Some of the well-known multinational players include Intel Corporation, ADVA Optical Networking, Hewlett Packard Enterprise Company, Hamamatsu Photonics, Okmetic OY, among many others.
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