The silicon
photonics market is projected to grow from USD 1.0
billion in 2020 to USD 3.0 billion by 2025, at a CAGR of 23.4%. The silicon
photonics market has been segmented based on product, component, application,
and geography. Factors accelerating the growth of the silicon photonics market
are the rising demand for CMOS-integrated silicon photonics technology in data
centers, the growing focus on reducing power consumption using silicon photonic
transceivers, the increasing requirement for high bandwidth and high data
transfer capabilities, and the surging demand for high-speed broadband
services. Increasing government and stakeholder funding, growing deployment of
5G networks, emerging applications of silicon photonics, and surging utilization
of silicon photonics technology in short-reach communication provide lucrative
opportunities to the silicon photonics market.
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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. Microsoft Azure is using Intel’s silicon photonics for silicon
photonics-based optical I/O modules that would target data communication at
high speeds. The silicon photonics market is growing at a faster rate because
the technology finds several applications in the computing industry across
several countries. This market is expected to witness high growth owing to the increasing
R&D investment by silicon photonic companies toward the development of this
technology and the growing demand for MXC connectors, photonic-integrated
circuits, silicon optics, etc. across the world.
Silicon photonic
transceivers are expected to be the fastest-growing products during 2020–2025,
primarily due to the reduced power consumption and high integration density of
these transceivers, which enable high-speed data transmission. Further, these
transceivers can be upgraded to handle higher capacity bandwidth, thereby
enabling optical modules to handle the data center network speed of up to 100
Gbps, 400 Gbps, and beyond.
Optical
interconnects developed using silicon photonics technology have been widely
recognized as potential solutions to transmit data at high rates. Higher data
transfer rates and higher interconnection densities with lower system-level
power dissipations could be obtained using photons as the medium to detect,
process, and transmit information. This high data transfer rate and high
interconnection densities of lasers in silicon photonics are propelling the
growth of the market for laser components.
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The market in North
America is further segmented into the US, Canada, and Mexico. North America is
expected to continue to command the silicon photonics market in the coming
years by accounting for the largest market share because it is the hub of many
technology companies and R&D establishments, thereby leading to prominent
innovations and technological advancements; also, there is a huge and steady
flow of monetary investment available for research-related activities from
governments and venture capitalists.
