Silicon Photonics Market Worth 1,078.9 Million USD by 2022

PUNE, India, June 29, 2016 /PRNewswire/ --

According to the new market research report "Silicon Photonics Market by Component (Optical Waveguides, Optical Modulators, Photo Detectors, WDM, Lasers), Product (Transceivers, Active Optical Cables, Multiplexers, and Attenuators), Application, and Geography - Global Forecast to 2022", published by MarketsandMarkets,  this market is expected to be worth USD 1,078.9 Million by 2022, at a CAGR of 22.1% between 2016 and 2022.

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Browse 89 market data Tables and 58 Figures spread through 193 Pages and in-depth TOC on "Silicon Photonics Market".

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The major driver for the growth of the silicon photonics market is the increasing use in data communication applications.

High demand for active components and active optical cables expected to drive the silicon photonics market 

The market for active components is expected to grow at the highest CAGR between 2016 and 2022. Active components include optical modulators, photo detectors, wavelength-division multiplexing filters, switches, and lasers integrated within a single device, providing a smaller form factor with the help of silicon photonics. The advancements in silicon photonics-based networking services would lead the silicon photonics market. The demand for the installation of silicon as an optical medium in photonics device for high-speed data transmission with low cost is growing. Therefore, the demand for active components in silicon photonics is high.

Data communication application expected to witness the highest growth between 2016 and 2022 

The market for the data communication application is expected to grow at the highest CAGR between 2016 and 2022. The demand for high-speed data transfer in data centers is expected to boost the market for silicon photonics technology. In this application, silicon photonics enhances performance in terms of computation, communication, and measurement to fulfill the needs of consumers and enterprise cloud services. This would drive the growth of the Silicon Photonics Market for the data communication application.