According to a new report, published by KBV research, The Global Silicon Photonics Market size is expected to reach $7.5 billion by 2030, rising at a market growth of 28.8% CAGR during the forecast period.
The Switches segment is showcasing a CAGR of 29% during (2023 - 2030). Due to their increased bandwidth, reduced latency, and lower power consumption, data center operators are increasingly demanding these switches, which is driving the market growth in this segment. This is crucial because data centers are getting more complicated, and a lot more data is being sent among storage & server devices. The switches segment is also growing as 5G technology is widely used. 5G technology needs high-speed, low-latency communication networks to cope with the significant volumes of data created by connected devices.
The Data Centre & High-Performance Computing segment is leading the Global Silicon Photonics Market by Application in 2022 thereby, achieving a market value of $3.3 billion by 2030. As high-performance computing (HPC) applications proliferate and data centers grow, there is an increasing demand for silicon photonics, especially those utilized in high-bandwidth optical transceivers. Through 2021, an increase in data centers due to rising traffic from businesses and consumers may present an important chance for the silicon photonics market. In 2022, the telecommunications segment procured a promising growth rate in the silicon photonics market.
The North America market dominated the Global Silicon Photonics Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2.7 billion by 2030. The Europe market is exhibiting a CAGR of 28.2% during (2023 - 2030). Additionally, The Asia Pacific market would showcase a CAGR of 29.7% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/silicon-photonics-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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