Press release
Silicon Photomultiplier (SiPM) Market: Investment Opportunities for Industry Players in North America and Europe
Silicon photomultiplier can sense a broader range of signal from ultra violet to infrared. It is designed with high detection efficiency. It has a wide range of applications in various industrial verticals such as oil & gas, IT and telecommunication, automotive, aerospace & defense, consumer electronics, healthcare, and other.
Silicon photomultiplier is employed in several applications such as 3D-Ranging, LiDAR, detection of nuclear medicine, high energy physics, medical imaging, novel scintillators for research and industry, aero particle physics, hazard and threat detection, sorting and recycling, biphotonic, and LiDAR & 3D-Ranging.
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Increase in usage of silicon photomultiplier in the automotive industry for advanced driver assistance system is the key factor that drives the global silicon photomultiplier market growth.
Rise in demand for product detection and high imaging is fueling the growth of the market.
Further, need of accurate diagnosis in the healthcare industry is also boosting the growth of the silicon photomultiplier market.
However, technological limitations such as higher noise silicon devices, are limiting the growth of the silicon photomultiplier market.
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The silicon photomultiplier market is highly competitive and the key strategies adopted by the vendors are new product launch, product development, business expansion, merger, and acquisition. For instance, in May 2019, Broadcom launched AFBR-S4N44C013 NUV-HD single silicon photo multiplier.
The major companies profiled in the global silicon photomultiplier industry include, KIP, SIPM, Indico, Cremat Excelitas Technologies Corporation, Sensl Technologies, AdvanSiD, Ludlum Measurements Inc., Broadcom, Philips Healthcare, KETEK GmbH, Radiation Monitoring Devices Inc., and others.
The silicon photomultiplier market is segmented based on device type, vertical, and region.
Based on device type, it is bifurcated into analog silicon photomultiplier and digital silicon photomultiplier. Based on vertical, it is categorized into oil & gas, IT and telecommunication, automotive, aerospace & defense, consumer electronics, healthcare, and others. Based on region, it is analyzed across Europe, Asia pacific, North America, and LAMEA.
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