The North America Silicon Photonics Market would witness market growth of 27.9% CAGR during the forecast period (2023-2030).
A growing field of photonics called silicon photonics provides a definite benefit over the electric conductors found in semiconductors utilized in high-speed transmission systems. With firms like Intel, IBM, and Kothura making strides with the technology, it is anticipated that this technology will increase transmission speeds up to 100 Gbps. Additionally, this technology transforms the semiconductor business by enabling high-speed data processing and transfer.
The last few decades have seen an increase in the importance of optical communications for terrestrial systems. Significant increases in data speeds over large distances have been observed in vast-haul fiber networks. As these systems stay at the channel capacity limits, new and more complex technologies have been developed to keep up with the growing demand for big data transfer. These technologies include silicon photonics. There are several opportunities for creating low-cost, high-yield, miniature, and low-power photonic integrated circuits (PICs) using photonic components implemented using well-established silicon fabrication techniques. In addition, the demand for data centers has grown recently due to the extensive use of cloud services.
Due to increasing data rates & bandwidth requirements, businesses are trying to shift to PICs. Future applications might benefit from PICs that use light and photons instead of electricity & electrons, as they could offer a larger bandwidth and higher efficiency. Additionally, PICs have been developing fresh strategies for cutting-edge technologies, like quantum computing. Future data and communications demand in North America are predicted to necessitate larger bandwidths and improved efficiency, promoting the growth of PICs in the region. Additionally anticipated is the geographical growth of the market throughout the forecast period due to the increasing demand for PICs.
The US market dominated the North America Silicon Photonics Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,472.2 million by 2030. The Canada market is poised to grow at a CAGR of 30.8% during (2023 - 2030). Additionally, The Mexico market would witness a CAGR of 29.7% 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 U.S., Mexico, Canada, and Rest of North America.
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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