According to the market research report on "Silicon
Photonics Market by Product (Transceiver, Switch, Variable Optical
Attenuator, Cable, Sensor), Application (Data Center, Telecommunications,
Military & Defense, Medical and Life Sciences, Sensing), Component, and
Geography - Global Forecast to 2023", the silicon photonics market,
the overall market is estimated to be worth USD 774.1 Million in 2018 and is
expected to reach USD 1,988.2 Million by 2023, at a CAGR of 20.8% between 2018
and 2023. Rising demand for silicon photonics in data centers, reduction in
power consumption with use of silicon photonics based transceivers, and the
growing requirement of high bandwidth and high data transfer capabilities are
the key factors driving the silicon photonics market.
Transceivers to hold major share of silicon photonics
market during forecast period
Transceivers are used in a variety of applications, such as
data center and high-performance computing; telecommunications; and military,
defense, and aerospace. Transceiver modules, which possess high performance and
compact package, and consume low power, are used in high-speed optical
communication systems. Owing to these features, these devices are significantly
used in data center and high-performance computing, and telecommunications
applications.
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Silicon photonics market for data center and
high-performance computing to grow at highest CAGR during forecast period
Data centers are experiencing an exponential increase in
data traffic due to the rise of cloud computing. Owing to technological
advancements in high-performance computing, there would be an increasing
adoption and integration of optics using silicon photonics.
North America to hold major share of silicon photonics
market between 2018 and 2023
North America is expected to hold the largest share of the
silicon photonics market during the forecast period. The US is expected to be a
major contributor to the market in North America between 2018 and 2023. This is
due to the high demand for silicon photonics in data centers in the country.
Also, major players such as Microsoft and Amazon have their data centers in the
US. Also, major silicon photonics players such as Intel, Luxtera, Acacia, Cisco,
IBM, and Finisar have their presence in the US, which fuels the silicon
photonics market in this region.
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Major players in the silicon photonics market are Acacia
(US), Luxtera (US), Intel (US), Cisco (US), Mellanox (Israel/US), Finisar
(US), STMicroelectronics (Switzerland), Hamamatsu (Japan), IBM (US), Juniper
(US), GlobalFoundries (US), Broadcom (US), Oclaro (US), NeoPhotonics (US), and
Ciena (US).
