Silicon Photonics Market Size

Silicon Photonics Market Size

Silicon Photonics Market size exceeded USD 600 million in 2019 and is anticipated to grow at over 30% CAGR between 2020 and 2026. The proliferation of 5G technology and increasing bandwidth demand will add an opportunity for companies to enhance their research initiatives in the photonics industry. In 5G transmission, this new technology will help in routing a large amount of data traffic at a lower cost and efficient transformation of the radio access network.

Silicon photonics technology is also paving its way toward the automotive sector with the growing demand for new safety technologies such as optimal vision in vehicles. Market leaders are continuously focusing on integrating the new technology into LiDAR chips, increasing their growth opportunities in the automotive sector.
 

However, the COVID-19 pandemic has affected the overall production capability of the silicon photonics market due to the lack of a skilled workforce. The declining semiconductor sector in China has majorly impacted the market growth. However, growing work from home scenarios worldwide will increase the demand for high-speed internet connection and 5G technology.