With 28.5% CAGR, Silicon Photonics Market Growth to Surpass USD 5.0 billion

The silicon photonics market was valued at USD 1.3 billion in 2022 and is projected to reach USD 5.0 billion by 2028, growing at a CAGR of 28.5% from 2023 to 2028. The growing deployment of 5G networks is one of the major opportunities in the market.  

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The silicon photonics market for data centers and high-performance computing is expected to see the highest growth rate during the forecast period. Silicon photonics technology has gained significant attention, especially in the data center and high-performance computing markets. Silicon photonics enables high-speed data transmission over long distances while consuming less power than traditional copper-based interconnects, which makes it an attractive solution for data centers and high-performance computing. The growth is attributed to the increasing demand for high-speed data transfer and low-power consumption in data centers and high-performance computing.

In Europe, Germany holds the largest market share of silicon photonics and is expected to retain its position during the forecast period. Germany is an automotive hub, and silicon photonics-based automotive LiDAR is expected to be the major application in the coming years. Whereas the silicon photonics market in the UK is likely to increase since the UK is home to key automotive players who can generate prominent growth opportunities for this market in the coming years.

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Key players in the silicon photonics market availed opportunities like indulging in partnerships and acquisitions. Product development and expansion were a few other strategies adopted by companies to strengthen their market position.

News also Covered: https://www.prnewswire.com/news-releases/silicon-photonics-market-worth-5-0-billion-by-2028---exclusive-report-by-marketsandmarkets-301824371.html

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