The Asia Pacific Silicon Photomultiplier (SiPM) Market would witness market growth of 7.1% CAGR during the forecast period (2021-2027).
Silicon photomultipliers are majorly utilized in a wide range of applications like recycling, 3D ranging, sorting, and threat detection. In addition, the key reason contributing to the increasing demand for silicon photomultipliers is that they can resist mechanical shocks which make them suitable for a wide range of light detection applications. The key market players of the global silicon photomultiplier market are increasingly aiming at the development of better design and size of sensors, and also providing personalized solutions to their customers.
The high penetration of the LiDAR in the automotive sector of various developing nations like China and Japan would contribute to the regional market growth. In addition, the prevalence of biggest manufacturers like China and the presence of key market players’ headquarters are supporting the continuous development of the latest technologies in the region. The boosting healthcare structure of these developing nations has also created opportunities for the SiPM companies to surge their revenue share.
Moreover, the increasing number of vehicles in numerous developing nations is propelling the demand for the silicon photomultiplier in this region. The range of benefits SiPM offer to manufacturers of automotive is also opening new growth avenues for the regional market. All these factors are together accelerating the demand for the product in this region and further augmenting the regional market growth.
The China market dominated the Asia Pacific Silicon Photomultiplier (SiPM) Digital SiPMs Market by Country 2020, thereby, achieving a market value of $7,512.4 Thousands by 2027. The Japan market is exhibiting a CAGR of 7.2% during (2021 - 2027). Additionally, The India market is poised to grow at a CAGR of 8.5% during (2021 - 2027).
Based on Type, the market is segmented into NUV SiPMs and RGB SiPMs. Based on Device Type, the market is segmented into Analog SiPMs and Digital SiPMs. Based on Application, the market is segmented into Medical Imaging, LiDAR, High Energy Physics, Hazard & Threat Detection and Others. Based on End User, the market is segmented into Healthcare, Automotive, IT & Telecom, Aerospace, Oil & Gas and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Silicon Photomultiplier (SiPM) Market is Projected to reach USD 190.8 Million by 2027, at a CAGR of 7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Broadcom, Inc., Koninklijke Philips N.V., TE Connectivity Ltd., ON Semiconductor Corporation, Hamamatsu Photonics K.K., AdvanSiD, Cremat, Inc., Excelitas Technologies Corp., Ketek GmbH, and Dynasil Corporation of America
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By Device Type
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