The Asia Pacific Silicon Photonics Market would witness market growth of 29.7% CAGR during the forecast period (2023-2030).
The Internet of Everything (IoE) infrastructure highlights the demand for real-time responsiveness between people and objects. Data processing & traffic management are becoming increasingly dependent on being capable of supporting cognitive computing, cloud computing, and big data analysis, putting pressure on market providers to provide the required speed and capacity to deliver a prompt response. Furthermore, since this technology is compatible with current fabrication procedures and is currently being used to develop ICs (integrated circuits), several organizations in the electronic manufacturing sector are adopting it.
In addition, it is projected that the adoption of 5G technology to give more bandwidth and high-speed data transfer and the growing uptake of smartphones, IoT, and AI-powered devices will fuel market demand over the upcoming years. For autonomous driving to evaluate the distribution of contaminants and chemicals in the environment, the application of LiDAR technology has grown essential. Light-based technologies have advanced technologically to the point where there is an increase in innovation by providing sustainable answers to regional problems. This trend is anticipated to continue in the industry over the ensuing years, and it is consequently functioning as a significant driver in the market.
Japan is becoming increasingly receptive to partnerships. Large firms seek investments to support growth to maintain their position as leaders. The market scale, the new openness, and the vibrant sector may undoubtedly help creative enterprises in Japan, which will ultimately fuel market expansion in Japan. The market is also driven by South Korea's expanding population, rising investments in silicon photonic product development, growing attention from domestic and international players on creating cutting-edge silicon photonic products, and rising R&D efforts to boost the region's data transmission rate. The demand for data processing and information interaction is increasing due to the quick development of artificial intelligence (AI), 5G, the Internet of Things (IoT), virtual reality, and their commercial applications. This would hasten the construction of data centers in the area and cause the market to grow explosively.
The China market dominated the Asia Pacific Silicon Photonics Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $607.3 million by 2030. The Japan market is estimated to grow a CAGR of 28.9% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 30.5% during (2023 - 2030).
Based on Product, the market is segmented into Transceivers, Variable Optical Attenuators, Switches, Cables, and Sensors. Based on Application, the market is segmented into Data Centre & High-Performance Computing, Telecommunications, Military, Defense, & Aerospace, Medical & Life Sciences, 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 Photonics Market is Projected to reach USD 7.5 Billion by 2030, at a CAGR of 28.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cisco Systems, Inc., Intel Corporation, MACOM Technology Solutions Holdings, Inc., IBM Corporation, STMicroelectronics N.V., Fujitsu Limited, Broadcom, Inc., Coherent Corp., GLOBALFOUNDRIES Inc. and Marvell Technology Group Ltd.
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