According to the research report titled ‘Silicon Photonics Market Size By Product, By Component, By Application Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026’ available with Market Study Report, global silicon photonics market is predicted to expand significantly during 2020-2026.
 

The widespread applications of silicon photonics across various high-revenue verticals such medical, commercial, data center, and telecommunication are responsible for the rapid growth of global silicon photonics market.
 

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For the record, silicon photonics is an evolving technology that uses optical rays for data transmission between computer chips. The technology transfers the data into light pulses using with the help of lasers.
 

The process involves a multiplexer compressing the pulses into a single signal which is sent to a silicon receiver which subsequently divides the signal back into different channels using a de-multiplexer.
 

Rising integration of silicon-based photonic devices with silicon lasers & amplifiers due to their low cost as well as compact properties is further fostering the expansion of the market.
 

Additionally, effective implementation of lasers in silicon photonics to enhance processing speed & power of computers along with increasing utilization of optical fibers in order to support faster connections among data centers are further stimulating the market outlook.
 

Based on the product terrain, the report states that the switch product segment is anticipated to grow substantially over the forecast period, due to rising adoption of the product in data centers for high bisection bandwidth.
 

With regards to component, the photodetector component is expected to witness considerable growth through 2026. Features such as high efficiency & bandwidth as well as low dark current levels of photodetectors have fueled its adoption rates in photonics integrated circuits, which in turn is driving the growth of the segment.
 

Moving on to the application spectrum of global silicon photonics market, the others segment accounted for around 5% of the market share in the year 2019, primarily due to increasing R&D activities directed towards integrating silicon photonics in automotive applications.
 

As per the regional analysis of the report, silicon photonics market in Latin America and Middle East & Africa registered 20% CAGR in 2019 and are expected to be major revenue throughout the forecast period. Rising deployment of 5G infrastructure in the two regions is fostering the expansion of the two markets
 

The key players of worldwide silicon photonics market include STMicroelectronics, Sicoya GmbH, Ranovus Inc., NeoPhotonics Corporation, Mellanox Technologies Ltd (NVIDIA Corporation), Lumentum Operations LLC, Juniper Networks, Inc., Intel Corporation, IBM Corporation, GlobalFoundries, Cisco Systems, Inc., Ciena Corporation, and Broadcom Inc among others.