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Silicon Photonics Device Market is Expected to Grow at a CAGR of 24.38%

The problem associated with the transfer of heavy data sets, especially over 100 Gigabyte can now be resolved with the help of photonics devices integrated with high density photonics. Silicon photonics technology refers to the use of silicon as a medium for data transmission. This technology is both energy efficient and cost effective at the same time, as it can enable the transfer of data more than 100 Gigabyte even at a slow internet speed. Development of wavelength converters, optical amplifiers and optical lasers has helped in optimizing the performance of the silicon photonics technology. According to a market intelligence report published by the BIS Research, titled ‘Global Market for Silicon Photonics Devices – Analysis and Forecast (2018 – 2024)’, the market is expected to grow at a CAGR of 24.38% during the forecast period. 

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Silicon photonics technology is a novel technology and even though it is at a nascent stage, it is growing significantly and has resulted in the growth of electronics and semiconductor industry steadily. Growth of the global silicon photonics devices market is associated with factors such as increasing bandwidth requirement for large data transfer, funding landscape of the silicon photonics devices market and efficiency in power consumption with the help of silicon photonics devices. Also, with further drop in the price the demand for the silicon photonics technology has increased tremendously across verticals including defense, telecommunications, and healthcare among others. Integration of silicon-based chips with silicon photonics devices has made is easier to transfer huge amount of data even from a long distance owing to the strong signal strength.

Additionally, as per the report published by the BIS Research, the silicon photonics market segmented by product can be further categorized into attenuators, multiplexers, optical cables, transceivers, and radio frequency. In 2017, out of the total market share, transceivers acquired the maximum share of the market followed by optical cables. Based on the segmentation of the market by application the market is further categorized by data communication, healthcare, defense, telecommunication, and consumer electronics. Telecommunications accounted for the maximum share of in the market in 2017 and consumer electronics accounted for the lowest share.

For further queries, please write to us at sales@bisresearch.com or call us at: +1-510-404-8135.

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