Analyst: Silicon photonics market to hit $410.78M by 2020

MarketsandMarkets has released a report that predicted strong growth for the silicon photonics market. According to the market analyst, the total market is expected to reach $410.78 million by 2020, growing at a CAGR of 24.5 percent 2013 to 2020.

The global silicon photonics market revenue is expected to reach $88.6 million by the end of 2013. This growth is heralded by the telecom and datacom application markets for silicon photonics products. The silicon photonics datacom applications sector is expected to grow rapidly in the coming seven years.

When geographical markets of North America, Europe, Asia Pacific and the rest of the world are considered, North America has the major share in the market with expected revenue of roughly $47.1 million in 2013. The CAGR of the market's primary based in North America, for the period 2013 to 2020 is calculated to be 22.7 percent. APAC and Europe are the fastest growing regions, with expected CAGRs of 27.4 percent and 26.1 percent, respectively from 2013 to 2020, due to the major growth spurts expected in the datacom application sector.

The key players in this market include Mellanox Technologies (Israel), Intel (U.S.), Luxtera Inc. (U.S.), IBM (U.S.) and Molex Inc. (U.S.) and so on.