Artificial Intelligence
Silicon Photonics Market to Present Revenue Opportunity of $4.90 Billion by 2028 | AI and Autonomous Vehicle to Put Pressure on Silicon Photonics Demand
Westford, USA, Nov. 09, 2022 (GLOBE NEWSWIRE) — As the demand for data continues to grow, so too does the need for efficient and reliable methods of transmitting that data. One promising technology in this area is silicon photonics, which has the potential to revolutionize data transmission by using light instead of electricity to transmit information. SkyQuest has released a new report that analyses the current state of silicon photonics market and its potential future applications. The report highlights the key advantages of silicon photonics over traditional electrical methods, including higher bandwidth, lower power consumption, and improved reliability.
The report also discusses some of the challenges faced by silicon photonics market, such as the high cost of manufacturing devices and the need for further research and development in order to commercialize the technology. Despite these challenges, SkyQuest believes that market has great potential and could play a major role in enabling the continued growth of data traffic.
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What Drives Demand for Silicon Photonics Market over Optical Fiber
In the last few years, there has been an increasing demand for silicon photonics. This is because:
- Silicon photonics offer many advantages over traditional optical technologies, including higher data rates, lower power consumption, and smaller form factors.
- One of the main reasons for the growing demand for silicon photonics is that they offer a much higher data rate than traditional optical technologies. For example, silicon photonics can support data rates of up to 100 Gbps, which is 10 times faster than the best optical fibers.
- Another reason for the growing demand for silicon photonics market is that they consume less power than traditional optical technologies. This is because silicon photonics use less energy to generate light, and they also generate less heat.
- Silicon photonics also have a smaller form factor than traditional optical technologies. This means that they can be used in a wider range of applications, including mobile devices and wearable electronics.
Data Centers are Key Consumers in Global Silicon Photonics Market
SkyQuest’s analysis of the silicon photonics market indicates that the technology is still in its early stages of development and commercialization. Nevertheless, there are already a number of companies actively involved in developing and selling silicon photonics products. The main application for silicon photonics currently is in data center, where it is used to interconnect servers and storage devices within a single facility. Data centers are increasingly looking for ways to improve their performance and efficiency, making them an ideal early adopter market for this technology.
The application of silicon photonics market in data centers can help to reduce energy consumption by 10-15% and improve efficiency by up to 25%. The introduction of silicon photonics can also help to free up space in data centers, which is a valuable commodity.
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Outside of data centers, there are a number of other potential applications for silicon photonics including 5G mobile networks, automotive applications, and medical imaging. However, these markets are still in the early stages of development and are not expected to be major contributors to market growth in the near term.
Looking forward, SkyQuest expects the silicon photonics market to grow at a compound annual growth rate (CAGR) of approximately 30 percent between 2018 and 2025. This growth will be driven primarily by increasing demand from data centers as they look to improve their performance and efficiency.
In the report, our analysts found that the use of silicon photonics technology is becoming increasingly widespread as the need for higher bandwidth and lower power consumption in datacenters grows. While the cost of deploying silicon photonics remains high, “the technology is expected to become increasingly cost-competitive as production volume increases.”
AI and Autonomous Vehicle to Put Pressure on Silicon Photonics Market
Currently, AI is being used in a variety of applications such as image recognition, natural language processing, and machine learning. However, the full potential of AI has yet to be realized due to the limitations of existing computing architectures. This is where silicon photonics can play a significant role in enabling AI to reach its full potential.
SkyQuest recently released a report on the global silicon photonics market detailing the potential lucrative opportunities presented by artificial intelligence (AI) and autonomous vehicles (AVs) for the silicon photonics industry. As detailed in the report, AI and AVs are expected to create a significant demand for data-intensive computing and sensing technologies, which will in turn drive demand for silicon photonics solutions. In particular, we expect that the adoption of AI in AVs will lead to a need for high-performance sensors and rapid data processing capabilities, which will be met by silicon photonics components.
AI and AVs are expected to be major growth sector for silicon photonics market. Data rates for both applications are expected to increase significantly as more data is collected and processed. For example, an autonomous vehicle can generate up to 4 TB of data per day.
Our study also notes that the development of AI and AV technologies presents a unique opportunity for the silicon photonics market to play a major role in enabling these transformative technologies. With its experience in producing innovative optical solutions, SkyQuest believes that the silicon photonics industry is well-positioned to provide the necessary components and expertise to support the growth of AI and AVs.
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Major Players in Global Silicon Photonics Market
- Taiwan Cisco Systems (US)
- Intel (US)
- MACOM Technology (US)
- GlobalFoundries (US)
- NeoPhotonics (US)
- InPhi (US)
- II-VI (US)
- IBM (US)
- STMicroelectronics (Switzerland)
- Rockley Photonics (US)
- Mellanox Technologies (US)
- Sicoya (Germany)
- Lumentum Operations (US)
- RANOVUS (US)
- Broadcom (US)
Related Reports in SkyQuest’s Library:
Global IOT Connected Machines Market
Global Smart Water Metering Market
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