Emerging Need for Energy Efficient Technology Boosts Global Silicon Photonics Market at 18.23%

According to Inkwood Research, the Global Silicon Photonics Market is predicted to register a CAGR of 18.23% during the estimated period, 2019-2028.

"Browse 125 market Data Tables and 86 Figures spread over 364 Pages, along with an in-depth TOC on Global Silicon Photonics Market Forecast 2019-2028."

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Silicon photonics is the learning and application of photonic systems using silicon as an optical medium. It is a developing technology wherein data is transferred among computer chips by optical rays. The optical fiber is used to overcome the limitation of copper in networking and storage area networks to support better connectivity between data centers. The successful implementation of silicon photonics technology would enormously increase the processing speed and power of computers.

Increasing Need for Energy Efficient Technology Drives the Global Market

Energy efficiency is the ultimate goal of any technology. Silicon photonics technology helps in saving a huge amount of energy, and is also cost effective. As per IEA, energy-efficient technologies installed in industries, transport vehicles, and buildings are expected to save the world's total energy by one-third and lead to a reduction in financial cost by 2050. Silicon photonics uses light as a medium of transferring data, it increases the data transfer rate much more than electric signaling. This helps in saving money, time, and human resources. California has been able to save 70%-90% of the energy by adopting the technology. The high level of power efficiency and a significantly increased level of integration with other devices are the major factors steering the market growth.

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Telecommunication is the Dominating Application in terms of Revenue Share

In modern telecommunication networks, there is always a demand for technologies that will help in enhancing the performance of instant connectivity and communications. Silicon photonics is one such technology that has surpassed other technologies in providing faster means of data transfers to the telecom sector. The telecommunication market is growing at a fast pace. Hence, the silicon photonics market is also developing rapidly. Silicon photonics technology is the most reliable method of data transfer. The introduction of silicon photonics in telecommunications has given the advantage of getting higher bandwidth at a low cost. Silicon is the leading material having low power consumption in the field of electronics. Silicon photonics provides faster communication in the telecom and computing industries at a low cost.

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The Region of Asia Pacific is set to project the Highest Growth Rate

The Asia Pacific region is estimated to record the highest CAGR over the forecast period. This is attributed to the fact that the region is central to the world's fastest-developing economies. Government organizations are making continuous efforts to utilize silicon photonics. New companies, together with well-known brands, are establishing their base in this region, owing to favorable policies.

The market is highly intense and competitive, owing to the initiatives taken by the vendors to offer innovative and modernized products, hence directing the market rivalry. The well-known multinational players are involved in frequent acquisitions and mergers to enhance their product portfolio and geographical presence to gain a competitive edge. Some of the prominent players dominating the global market include Hewlett Packard Enterprise, ADVA Optical Networking, Hamamatsu Photonics KK, Intel Corporation, Enablence Technologies Inc, among others.

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