Market Analysis
The global silicon photonics market will touch USD 2,518.59 million at a 20.71% CAGR in the forecast period (2020- 2027), states the latest Market Research Future’s (MRFR) silicon photonics market forecast report.
Drivers
Growing Need in High-Speed Broadband Services to Boost Market Growth
The growing need for high-speed broadband services is growing significantly with the increasing adoption in government agencies, commercial and other applications will boost market growth over the forecast period.
Opportunities
Emerging Applications of Silicon Photonics to offer Robust Opportunities
Silicon photonics are used in diverse applications including sensors, high performance computing, and more. The significant deployment of the sensors in autonomous vehicles along with the growing efforts for the development of the autonomous vehicles in analyzed to impact the market.
Restraints and Challenges
Complexity in Integration of On-Chip Laser to act as Market Restraint
The complexity in integration of on-chip laser will act as market restraint over the forecast period.
Read more@ https://www.marketresearchfuture.com/reports/silicon-photonics-market-2809
COVID-19 Analysis
The COVID-19 pandemic has impacted the overall production capability of the silicon photonics owing to lack of skilled workforce. The falling semiconductor sector in China has majorly restricted the market growth. The growing work from home scenarios has increased the need for 5G technology and high-speed internet connection. This will boost the need for silicon photonics for delivering high bandwidth & high speed data transfer.
