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Silicon photonics market to grow 22.1% from 2016 to 2022

July 14, 2016

The silicon photonics market is expected to reach $1.9 billion by 2022, at a CAGR of 22.1 percent between 2016 and 2022, according to a report by Reportlinker, a market research solution.

The major reason for the growth of silicon photonics technology is the increasing demand for high-speed data transfer, data integration and small factor form in various applications such as data communication, telecommunication and consumer electronics. The use of silicon photonics technology in active optical cables, transceivers, multiplexers, lasers, and other devices have increased the scope of the silicon photonics market for different applications.

The demand for silicon photonics technology has increased due to their various functionalities and day-to-day use in data communication and telecommunication applications for high-bandwidth data transmission in small and long networks, the release said. For this, the use of active optical cables in these applications can provide a high-speed data transmission rate of digital information in data centers and networking communication, the release said.

Also, it fulfills the need for data transfer rate for cloud-based services in the corporate sector. Additionally, these cables are used in digital signage and other video transmission devices. These factors are likely to propel the growth of the silicon photonics market for active optical cables, according to the release.

This report covers the market in North America, Europe, Asia-Pacific and the rest of the world. The market in APAC is expected to grow at the highest CAGR between 2016 and 2022. High adoption rates of new technologies and the demand for high bandwidth data transmission in IT infrastructure are some of the factors that have contributed to the growth of the silicon photonics market in the APAC region.