The North America Silicon Photomultiplier (SiPM) Market would witness market growth of 6.8% CAGR during the forecast period (2021-2027).
SiPM is basically a solid-state electronic sensor that creates a current pulse during the absorption of a photon. Some key parameters, which characterize a SiPM, are photon detection efficiency, breakdown voltage, gain versus overvoltage relation, after pulsing probability, dark count rate, and crosstalk probability. Additionally, some features like photodetection efficiency make these sensors differ from conventional silicon PMT.
Aspects like the growing need for precise diagnosis in the healthcare sector and rising demand for advanced driver assistance systems are estimated to propel the growth of the silicon photomultiplier market during the forecast period. In addition, silicon photomultipliers are majorly utilized in a wide variety of applications like recycling, threat detection, and 3D ranging. Though, there are various technological barriers like more noise in silicon devices, which are anticipated to hamper the growth of the silicon photomultiplier (SiPM) market over the forecast period. The increasing usage of these sensors in the healthcare industry is projected to open new growth avenues for the silicon photomultiplier market.
The high adoption rate of the technology-advanced solutions across this region is supporting the regional growth of the silicon photomultipliers market. Several automotive players are highly adopting this LiDAR with SiPMs for better and improved Advanced Driver Assistance Systems (ADAS). This would further support the growth of the regional market. In addition, the strong healthcare structure of this region is motivating healthcare companies to improve various therapies and technologies for proper diagnosis, which would further augment the growth of the regional market.
Moreover, the increasing usage of silicon photomultipliers in various verticals, especially in the automotive sector along the evolving silicon photomultiplier technology would open new growth prospects for the regional market. Further, all these determinants are collaborating in pushing the silicon photomultiplier market forward in North America.
The US market dominated the North America Silicon Photomultiplier (SiPM) RGB SiPMs Market by Country 2020, thereby, achieving a market value of $11,836.5 Thousands by 2027. The Canada market is experiencing a CAGR of 11.9% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 11% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Silicon Photomultiplier (SiPM) Market is Estimated 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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