According to the report by Expert Market Research (EMR), the [FURL=https://shorturl.at/1REx9]silicon photonics market size[/FURL] is assessed to grow at a CAGR of 41.6% in the forecast period of 2024-2032. Aided by the development of advanced modulation formats and technological advancements, the market is estimated to reach a value of around USD 44.50 billion by 2032.Silicon photonics is an innovative technology that uses silicon as an optical medium to transfer data among computer chips and other electronic devices at high speed. It leverages the properties of silicon, traditionally used in semiconductor electronics, to manipulate and transmit light (photons) alongside or instead of electrical signals (electrons). This technology enables the creation of high-speed, high-bandwidth communication systems and various other applications.
The silicon photonics market is characterised by rapid technological advancements and continuous innovation. One of the significant trends is the integration of silicon photonics with complementary metal-oxide-semiconductor (CMOS) technology. This integration enables the production of photonic components using existing semiconductor manufacturing processes, significantly reducing costs and facilitating large-scale production.
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Another notable innovation in the global silicon photonics market is the development of advanced modulation formats and multiplexing techniques. These advancements have enhanced the bandwidth capabilities of silicon photonics, making it a viable solution for high-performance computing and data centre applications. Furthermore, the development of hybrid silicon lasers, which combine the benefits of silicon photonics with other materials like indium phosphide, has improved the efficiency and performance of photonic devices.
Moreover, the rise of 5G technology and the Internet of things (IoT) has further fuelled the demand for silicon photonics. The deployment of 5G networks requires high-speed and low-latency communication infrastructure, which silicon photonics can provide. Similarly, the proliferation of IoT devices, which generate massive amounts of data, necessitates efficient data transfer solutions, thereby driving the adoption of silicon photonics.
The silicon photonics market has witnessed significant investment and funding from both the public and private sectors. Governments across the globe are recognising the potential of silicon photonics and are investing in research and development to drive technological advancements. For instance, the European Union has launched several initiatives to support silicon photonics research as part of its Horizon 2020 program.
Competitive Landscape
Cisco Systems, Inc.
Intel Corporation
IBM Corporation
NeoPhotonics Corporation
Hamamatsu Photonics K.K
STMicroelectronics N.V.
Others
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