Silicon Photonics Market To Reach $1078.9 Million By 2022
The report cites the major reason for the growth of the silicon photonics technology as the increasing demand for high-speed data transfer, data integration, and small factor form in various applications such as data communication, telecommunication and consumer electronics. The forecast also indicates that the use of silicon photonics technology in active optical cables, transceivers, multiplexers, lasers, and other devices have increased the scope of the silicon photonics market for different applications.
Active optical cables to hold a large market share
The demand for silicon photonics technology has increased according to Reportbuyer because of their various functionalities and day-to-day use in both data communication and telecommunication applications for high bandwidth data transmission in small and long networks. For this, the use of active optical cables in these applications is high to provide high-speed data transmission rate of digital information in data centres and networking communication. Also, it fulfills the need for data transfer rate for cloud-based services in the corporate sector. Also, these cables are used in digital signage and other video transmission devices. These factors are likely to propel the growth of the silicon photonics market for active optical cables.
APAC expected to be the fastest-growing market
This report covers the said market in North America, Europe, Asia-Pacific, and Rest of the World (RoW). The market in APAC is expected to grow at the highest CAGR between 2016 and 2022. The high adoption rates of new technologies demand for high bandwidth data transmission in IT infrastructure are some of the important factors that have contributed to the growth of the silicon photonics market in the APAC region.