Silicon photonics market to grow 23.4% in next six years
The silicon photonic market was valued at US$510 million in 2019 and is projected to reach $US2750 million by 2025, at a CAGR of 23.4% during the forecast period.
The new 2019 Global Silicon Photonic Market Report research from ReportsnReports.com intends to offer a fresh outlook on the market and fill in knowledge gaps with the help of processed information and opinions from industry experts.
In this study, 2019 has been considered the base year and 2019 to 2025 as the forecast period to estimate the market size for silicon photonics.
APAC is expected to grow at the highest CAGR for the silicon photonics market during the forecast period due to the increasing use of internet services in data center and telecommunications applications in this region.
Also, major players have their manufacturing plants in APAC, which is fueling the growth of silicon photonics in the region.
The silicon photonics market in APAC is mainly driven by China as the biggest manufacturers have their production facilities in the country.
It is expected that there will be an increase in the use of silicon photonics transceivers for telecommunications applications due the consistent rise in the use of smartphones and internet facilities throughout the area.
Expos and conferences that showcase and promote emerging technologies will also help boost the growth of the silicon photonics market.
This is a top to bottom, expert examination on the present condition of the silicon photonic industry that gives a fundamental review of the market, including definitions, arrangements, applications and industry chain structure.
The silicon photonic industry investigation includes worldwide markets including advancement patterns, focused scene examination, and key districts improvement status.
Improvement strategies and plans are also examined and producing procedures and cost structures are broken down.