The report "Silicon Photonics Market with COVID-19 Impact Analysis by Product (Transceivers, Switches), Application (Data Center & High-performance Computing, Telecommunication), Waveguide, Component, and Geography - Global Forecast to 2027" The silicon photonics market is expected to grow from USD 1.1 billion in 2021 to USD 4.6 billion by 2027; it is expected to grow at a CAGR of 26.8% during the forecast period. With the outbreak of the COVID-19 pandemic, there has been a spike in internet usage, primarily due to the high acceptance of the work-from-home norm and increased inclination toward television watching and e-learning activities, among many others. However, the surging use of digital services has also led to the lay off of employees or reduction in expenditure by companies. Subsequently, the sale of networking components, such as silicon photonic devices, has declined to a great extent. The 5G network is expected to be one of the fastest-growing applications of silicon photonic solutions. 5G network is in the initial phase of deployment, and COVID-19 has delayed the deployment of 5G network, which, in turn, will affect the growth of the silicon photonics market throughout the FY 2020–2021.

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Transceivers to witness highest CAGR in silicon photonics market during the forecast period

Transceivers are used in a variety of applications, such as high-performance computing, data center, and telecommunication. With major technological advancements in silicon photonics, it is possible to transfer data at a speed of up to 400 Gbps. Intel’s 100G PSM4 QSFP28 optical transceiver is capable of sending data at a speed of 100 Gbps. The rapid spread of the COVID-19 pandemic led to decreased sales of silicon photonic devices, especially in 2020. However, a quick jump is expected in the sales of silicon photonic products in the coming years, primarily to fulfill the pending requirements of 2020.

Lasers to have the largest market size of silicon photonic components during the forecast period

Hybrid silicon lasers (silicon and group III-V semiconductor) are used to overcome mass-production issues in silicon lasers, and it is one of the key reasons for the growing demand for lasers in the silicon photonics market. The hybrid approach takes advantage of the light-emitting properties of III-V semiconductor materials combined with the process maturity of silicon to fabricate electrically driven lasers on a silicon wafer that can be integrated into other silicon photonic devices. Companies in the silicon photonics market are working on the same. For instance, Intel is working on hybrid silicon lasers with indium phosphide-based materials and other compound semiconductor materials.

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