Northbrook, IL -- (SBWire) -- 11/22/2021 --According to a research report "Silicon Photonics Market with COVID-19 Impact Analysis by Product (Transceivers, Switches), Application (Data Center & High-performance Computing, Telecommunication), Waveguide, Component, and Geography - Global Forecast to 2027", published by MarketsandMarkets™, the Silicon Photonics Market is expected to grow from USD 1.1 billion in 2021 to USD 4.6 billion by 2027; it is expected to grow at a CAGR of 26.8% during the forecast period. With the outbreak of the COVID-19 pandemic, there has been a spike in internet usage, primarily due to the high acceptance of the work-from-home norm and increased inclination toward television watching and e-learning activities, among many others. However, the surging use of digital services has also led to the lay off of employees or reduction in expenditure by companies. Subsequently, the sale of networking components, such as silicon photonic devices, has declined to a great extent. The 5G network is expected to be one of the fastest-growing applications of silicon photonic solutions. 5G network is in the initial phase of deployment, and COVID-19 has delayed the deployment of 5G network, which, in turn, will affect the growth of the silicon photonics market throughout the FY 2020–2021.

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Datacenter and high-performance computing application to have highest CAGR in silicon photonics market for variable optical attenuators market during the forecast period.

The variable optical attenuators segment is expected to witness constant growth in the coming years due to the rising adoption of broadband internet in developing countries, testing and deployment of 5G in the telecommunications industry, and escalating demand for high-speed internet connectivity in commercial and industrial applications. For instance, several US-based telecommunication companies such as AT&T and T-Mobile already rolled out 5G networks in 2019, which provide faster data transfer and communication across multiple cities and towns of the US.

Modulators to grow at significant CAGR in silicon photonics component market during the forecast period.

An optical modulator is a device that can modulate or alter the fundamental characteristics of a light beam that propagates in free space or in an optical waveguide. Modulators change/modify properties such as optical power or phase of light beams. An optical modulator can alter different beam parameters; optical modulators can be categorized into amplitude, phase, and polarization modulators. These are mainly used to manipulate the property of light of an optical beam, e.g., a laser beam. Silicon optical modulators are divided into absorptive and refractive modulators. Owing to the increasing demand for high-speed optical networks, the market for silicon modulators is likely to witness a high growth rate during 2021–2027.

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North America accounts for the largest share of the silicon photonics market during the forecast period.

North America is dominating the silicon photonics market owing to the presence of major players providing silicon photonics technology-based devices in the US and the high adoption of electronic products. The US is leading the silicon photonics market in North America. There exists huge potential for data center applications in the US owing to the presence of data centers of major technology giants such as Microsoft, Facebook, and Amazon in this country.

The report profiles key players in the silicon photonics market and analyzes their market shares. Players profiled in this report are Cisco Systems (US), Intel (US), MACOM Technology (US), GlobalFoundries (US), NeoPhotonics (US), InPhi (US), II-VI (US), IBM (US), STMicroelectronics (Switzerland), Rockley Photonics (US), Mellanox Technologies (Israel), Sicoya (Germany), Lumentum Operations (US), RANOVUS (Canada), Broadcom (US), Hamamatsu Photonics (Japan), Molex (US), Fujitsu (Japan), Chiral Photonics (US), EFFECT Photonics (Netherlands), AIO Core (Japan), NKTPhotonics (Denmark), IPG Photonics (US), DAS Photonics (Spain) and TDK Corporations ( Japan)

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