Technology

Silicon Photonics Market to Grow by USD 5.24 Billion (2024-2028), Demand for Higher Bandwidth Boosts Revenue, AI Driving Market Evolution – Technavio

Published

3 days ago

November 29, 2024

NEW YORK, Nov. 29, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The global silicon photonics market size is estimated to grow by USD 5.24 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 24.88% during the forecast period. Increasing need for higher bandwidth is driving market growth, with a trend towards emergence of optical data centers. However, lack of global standards and guidelines poses a challenge. Key market players include AIO Core Co. Ltd., ams OSRAM AG, Broadcom Inc., Corning Inc., Hamamatsu Photonics KK, II VI Inc., Infinera Corp., Innolume GmbH, Intel Corp., International Business Machines Corp., IPG Photonics Corp., MACOM Technology Solutions Inc., NKT Photonics AS, Nokia Corp., NVIDIA Corp., OpenLight Photonics Inc., OSCPS Motion Sensing Inc, RANVOUS Inc., Sicoya GmbH, TRUMPF SE Co. KG, and Cisco Systems Inc..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Application (Communications, Consumer electronics, and Others), Component (Lasers, Modulators, and Photo detectors), and Geography (North America, APAC, Europe, South America, and Middle East and Africa)

Region Covered

North America, APAC, Europe, South America, and Middle East and Africa

Key companies profiled

AIO Core Co. Ltd., ams OSRAM AG, Broadcom Inc., Corning Inc., Hamamatsu Photonics KK, II VI Inc., Infinera Corp., Innolume GmbH, Intel Corp., International Business Machines Corp., IPG Photonics Corp., MACOM Technology Solutions Inc., NKT Photonics AS, Nokia Corp., NVIDIA Corp., OpenLight Photonics Inc., OSCPS Motion Sensing Inc, RANVOUS Inc., Sicoya GmbH, TRUMPF SE Co. KG, and Cisco Systems Inc.

Key Market Trends Fueling Growth

The global Silicon Photonics market is experiencing significant growth due to the increasing demand for high-speed data transfer in various industries. With the Internet traffic from cloud computing, 5G technology, IoT, and AI-powered devices, there is a need for more efficient and low-power solutions. Silicon photonics offers this by using integrated circuits (ICs) for optical communications, reducing power consumption compared to electronic technologies. Key components of silicon photonics include transceivers, optical interconnects, lasers, modulators, and photodetectors. These are used in data centers, telecommunication networks, and interconnection networks. The market is also driven by the adoption of 5G network, self-driving cars, and high-speed kits for point-of-care testing and imaging data. Silicon photonics uses optical waveguides, optical modulators, and photodetectors made from silicon, silicon nitride, and other photonic components. These components are more compact and less susceptible to thermal effects compared to traditional fiber-optic solutions. Additionally, the use of high-powered laser sources, thermal stress management, and Liquid-crystal cladding helps mitigate thermal effects and improve performance. The market for silicon photonics is expected to grow in IT & telecommunications and consumer electronics sectors, with applications in broadband services, telecom service providers, and broadband connections. This growth is driven by the need for high-speed data transfer and low power consumption, making silicon photonics a promising solution for the future of optical communications and data storage systems.

Silicon photonics is a game-changing technology for optical data centers, providing enhanced capabilities for data transmission, processing, and storage. By integrating high-speed, high-bandwidth optical interconnects directly onto silicon chips, silicon photonics enables seamless communication between different data center components. This results in faster data transfer rates, lower latency, and increased scalability, making it an ideal solution for modern applications like cloud computing, artificial intelligence, and big data analytics. The continuous growth in cloud-based applications and big data analytics has significantly expanded the scale of data center networks. Silicon photonics, with its advantages over traditional copper-based interconnects, is a crucial technology in addressing the demands for faster and more efficient data center infrastructure.

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Market Challenges

The global silicon photonics market is experiencing significant growth due to increasing demand for high-speed data transfer in various industries. With the Internet traffic from cloud computing, 5G technology, IoT, and AI-powered devices, there is a need for more efficient and low-power optical communications solutions. Silicon photonics offers a promising solution with its integration of photonics and electronic components on a single silicon chip. However, challenges such as thermal effects, power consumption, and thermal stress in high-powered laser sources remain. Transceivers, optical interconnects, and lasers are key components in this market, along with modulators, photodetectors, and optical waveguides. Data centers, telecommunication, and IT & telecommunications are major end-users, with consumer electronics and automotive industries also adopting silicon photonics for high-speed kits in self-driving cars and point-of-care testing. Optical network infrastructure, including fiber-optic and active optical cables, is a significant application area. Silicon photonics is revolutionizing data storage systems, datacom protocols, and interconnection networks, offering an alternative to copper cables. The market is expected to grow further with advancements in silicon nitride, optical multiplexers, attenuators, and other photonic components.The absence of standardized protocols and specifications in the silicon photonics market poses challenges for both manufacturers and customers. Without universally accepted standards, the integration of silicon photonics components into existing optical communication systems and networks becomes complicated. Compatibility issues arise, product development and manufacturing processes are complicated, and implementation costs increase. Furthermore, the lack of clear standards results in inconsistent performance metrics, making it difficult for customers to compare and evaluate different silicon photonics solutions effectively. Standardization is crucial for the widespread adoption of new technologies, and its absence in the silicon photonics market hinders its growth and potential impact on the optical communication industry.

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Segment Overview

This silicon photonics market report extensively covers market segmentation by

Application 1.1 Communications1.2 Consumer electronics1.3 OthersComponent 2.1 Lasers2.2 Modulators2.3 Photo detectorsGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Communications- The communications industry’s growth is driving the demand for silicon photonics due to its ability to transmit wider bandwidth signals with low latency and maintain signal quality during long-distance communication with minimal loss. Silicon photonics is a key technology in optical communication systems, enabling the transfer of large amounts of data at high speeds. Increased bandwidth and low latency requirements have fueled the demand for silicon photonics-based devices such as receivers, transmitters, and modulators. The proliferation of data centers and cloud computing infrastructure is a major factor driving the market’s growth. Vendors like Cisco Systems Inc. And Intel Corp. Offer silicon photonics solutions for high-speed data transmission in data center environments. The evolution of 5G networks is another significant factor, as silicon photonics supports 5G networks with low latency and high capacity at a low cost and power per bit. With the increasing investment in 5G networks, the demand for silicon photonics is also expected to rise, boosting the growth of the global silicon photonics market through the communications segment.

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Research Analysis

Silicon photonics is an innovative technology that merges electronic and optical functionalities on a single silicon chip. This technology is revolutionizing various industries, including telecommunications, data centers, and consumer electronics. With the exponential growth of Internet traffic, cloud computing, and the Internet of Things (IoT), there is a surging demand for high-speed data transfer solutions. Silicon photonics offers a promising solution with its ability to transmit data at unprecedented speeds using light instead of electricity. This technology is not limited to telecommunications but also finds applications in 5G networks, smartphones, AI-powered devices, and networking components. It is a game-changer for data centers, enabling faster and more efficient data processing and storage. Datacom protocols and both optical and copper cables benefit from this technology’s integration with electronic circuits. However, challenges such as thermal effects and the need for advanced photonic components remain. Despite these challenges, silicon photonics continues to gain traction due to its potential to revolutionize electronic technologies and pave the way for a future of high-speed, efficient, and cost-effective data transfer.

Market Research Overview

Silicon photonics is a revolutionary technology that utilizes silicon ICs to transmit data using light waves instead of traditional copper cables. This technology is poised to revolutionize various industries, including telecommunications, data centers, cloud computing, and consumer electronics. With the exponential growth of Internet traffic, the demand for high-speed, low-power, and cost-effective solutions is increasing. Silicon photonics offers a solution by enabling the integration of photonic components such as lasers, modulators, and optical interconnects on a single chip. This technology is also crucial for 5G networks, IoT, self-driving cars, and AI-powered devices, which require high-speed data transfer and low power consumption. Silicon photonics also offers advantages in data storage systems, optical network, and telecom services by reducing thermal effects and power consumption compared to traditional electronic technologies. The market for silicon photonics is expected to grow significantly due to its potential applications in various sectors, including IT & telecommunications, datacom protocols, and consumer electronics. Some of the key components of silicon photonics include optical waveguides, photodetectors, optical modulators, and lasers made from bulk crystalline silicon, silicon nitride, and other photonic materials. The technology also includes thermal effects management using Liquid-crystal cladding and self-driving cars applications using high-speed kits. The market for silicon photonics is expected to grow significantly due to its potential applications in various sectors, including telecommunications, data centers, cloud computing, and consumer electronics. The technology offers advantages such as high-speed data transfer, low power consumption, and cost-effectiveness, making it a promising solution for the future of optical communications.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationCommunicationsConsumer ElectronicsOthersComponentLasersModulatorsPhoto DetectorsGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

Technology

IRIS Software Group Announces Intent to Acquire Dext Software Ltd.

Published

38 minutes ago

December 3, 2024

Acquisition to create an integrated, end-to-end solution, advance partner integrations, and drive product innovation for accountants and businesses globally

LONDON, Dec. 3, 2024 /PRNewswire/ — IRIS Software Group (IRIS), a leading global provider of accountancy, education management, HR and payroll solutions, today announced a definitive agreement to acquire Dext Software Ltd (Dext), a leading bookkeeping automation platform provider. The acquisition will unite two sector-leading cloud-based platforms – Dext’s Bookkeeping Automation Platform and IRIS Elements – to deliver a complementary and fully integrated, end-to-end solution for accountants, bookkeepers, and businesses.

On one side of the accounting value chain, IRIS Elements supports accountants and businesses with practice management and compliance functionality, such as accounts production and tax returns. On the other, Dext simplifies bookkeeping and improves productivity by automating routine tasks with AI. Together, both companies will cover the entire end-to-end accountancy workflow, from data entry and processing to compliance, reporting and advisory services.

Currently, many accountants and businesses face “app fatigue” juggling multiple, disconnected tools to get their daily work done. Through integration, IRIS and Dext’s cloud platforms will connect seamlessly with a secure single sign-on (SSO) and share data effortlessly back and forth across both platforms. This will, effectively, create a single, end-to-end view of the entire accountancy workflow. By expanding the global digital footprint in countries like the UK, Canada, France and Australia, the acquisition will also support accountants in staying ahead of rapidly evolving global regulatory and compliance requirements.

Commenting on the agreement, Elona Mortimer-Zhika, CEO of IRIS Software Group said, “With today’s exciting news, we are bringing together our amazing customers, partners, and employees to drive the future of tech in the accountancy industry. We are doubling down on our promise to build and offer the most compliant cloud solutions that deliver our customers the highest levels of productivity and engagement, giving them back the critical time they need to advise their clients, grow their businesses, and do what they love. Accountancy has been the heartland of IRIS for 46 years; together with Dext we have a shared passion to be the biggest supporters and best champions of accountants, globally.”

The transaction will allow IRIS to accelerate Dext’s product roadmap, infuse additional capital and enhance its partner integration program, which already connects to over 35 bookkeeping software platforms and over 11,500 banks & financial institutions. Both IRIS and Dext share a general ledger (GL)-agnostic strategy, ensuring their platforms can integrate with a wide array of accounting software and every bookkeeping provider – connecting multiple workflow streams and providing customers with unparalleled freedom of choice. Accountants and bookkeepers will have the flexibility to use their preferred bookkeeping tools while enjoying the benefits of a smooth, cohesive user experience.

Sabby Gill, CEO of Dext added, “Joining forces with IRIS marks an exciting new chapter for Dext. This partnership enables us to accelerate our product innovation, deepen our integration program, and deliver a complete, end-to-end solution to our customers. I look forward to working alongside the IRIS team to unlock new opportunities for our customers and offer our team members expanded opportunities for personal and professional growth.”

Upon closing, Sabby Gill will form part of the IRIS Global Executive team. The transaction is subject to customary closing conditions and is expected to be finalised by the end of this calendar year.

Media contact:
IRIS Software Group
news@irisglobal.com

About IRIS Software Group
Founded in 1978, IRIS Software Group is a global provider of mission critical, cloud-hosted software solutions and services to more than 100,000 customers across 135 countries. IRIS is a trusted partner to businesses, finance, HR and payroll teams, educational organisations, and accountancy firms of all sizes, providing innovative operational solutions that streamline complex processes, maintain compliance, and unlock growth. Through simplifying, automating and providing insights on everyday mission critical tasks for organisations of all shapes and sizes, IRIS ensures customers can look forward with certainty and confidence. IRIS is certified as a 2024 Great Place to Work® in the UK, Ireland, India, Romania, Canada and the USA. Follow IRIS on Facebook, Twitter, Instagram and LinkedIn. More information on its award-winning software solutions can be found here.

About Dext
Dext is the leading provider of bookkeeping automation, empowering businesses, accountants, and bookkeepers to thrive through innovative technology that simplifies accounting processes and drives smarter, more timely financial decisions. With financial data extraction accuracy of 99.5%, Dext has been trained on over 1 billion receipts and invoices.

Trusted by 12,000 accounting and bookkeeping firms and 700,00 businesses, Dext seamlessly integrates with most major accounting software and connects to over 11,500 banks, suppliers, and marketplaces worldwide. To date, the company has saved bookkeepers more than 35 million hours of manual data entry. As the global leader in bookkeeping automation, Dext maximizes efficiency and boosts productivity, liberating its customers to focus on what truly maters to them.

Dext was awarded the 2024 Xero Small Business App of the Year in both the UK and the US, plus Best Accounting and Pre-Accounting Specialists 2023 at the Worldwide Finance Awards 2023.

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SOURCE IRIS Software Group

Technology

AC Health makes critical HIV care more accessible to Filipinos with USAID support

Published

38 minutes ago

December 3, 2024

MANILA, Philippines, Dec. 3, 2024 /PRNewswire/ — Ayala Healthcare Holdings, Inc. (AC Health), in partnership with the U.S. Agency for International Development (USAID), is leading the private sector’s efforts to fight the HIV epidemic in the Philippines by improving access to stigma-free care and lifesaving services.

The partnership was sealed in time for World AIDS Day, whose theme “Collective Action: Sustain and Accelerate HIV Progress,” underscores the importance of collaboration to overcome this health challenge.

AC Health will leverage its unique ecosystem to develop, test, and scale approaches to improving and expanding HIV care and prevention services in the Philippines. AC Health will onboard qualified health service providers on the KonsultaMD platform and expand HIV awareness and screening services beyond health facilities. It will also import essential medicines and other lifesaving technologies through units IE Medica and MedEthix and make these commercially available through Generika Drugstore.

An important ally in the Philippines’ fight against HIV, USAID will support community engagement, provide technical assistance to Healthway Medical Network, and introduce private sector models for HIV service delivery. USAID will also train healthcare providers, share research, expand telehealth access through KonsultaMD, and coordinate with partners to provide free HIV self-testing kits.

“Our mission at AC Health is to make quality and affordable healthcare accessible to more Filipinos. Through our partnership with USAID, our dedicated teams at Healthway Medical Network, KonsultaMD, and Generika Drugstore have been equipped with specialized training to serve key populations affected by HIV. This collaboration brings us closer to bridging gaps in HIV prevention and testing, ensuring these critical services reach more communities nationwide,” said AC Health Chairman Fernando Zobel de Ayala.

The partnership is a key initiative to support the Philippines in addressing one of the fastest-growing HIV epidemics in Southeast Asia. AC Health’s participation also highlights its growing role in responding to public health challenges in the country.

AC Health, in partnership with Publicis Groupe Philippines and the People Management Association of the Philippines, is also leading the “Working with Cancer Pledge” in the country. This initiative is a global movement to raise awareness and support for people struggling with cancer in the workplace. Since its launch in 2023, hundreds of companies globally have been transformed into inclusive workplaces for employees dealing with cancer.

AC Health, a wholly-owned subsidiary of Ayala Corporation, aims to provide every Filipino accessible, affordable, and quality healthcare. Its portfolio includes Generika Drugstore, the pioneer in generic retail pharmacies; St. Joseph Drug, a leading retail drugstore chain in North Luzon; IE Medica and MedEthix, a major pharmaceutical importer and distributor; Healthway Medical Network, a network of multi-specialty clinics, ambulatory centers, and full-service hospitals; and KonsultaMD, a healthcare aggregator app that offers online consultations, medicine delivery, and clinic and diagnostic booking. Through its three pillars—pharma, hospitals and clinics, and digital health—AC Health creates a seamless and integrated healthcare ecosystem for the Filipino patient.

About Ayala Corporation

For 190 years, Ayala Corporation has been building businesses that enable people to thrive.

Ayala, currently one of the largest conglomerates in the Philippines, has meaningful presence in real estate, banking, digital solutions, and renewable energy. It likewise has a growing presence in healthcare, mobility, and logistics as well as investments in industrial technologies, education, and other ventures. Ayala manages its corporate social responsibility initiatives through Ayala Foundation.

Visit our website at https://ayala.com and by follow us on LinkedIn to learn more about the company.

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SOURCE Ayala Healthcare Holdings, Inc.

Technology

CLAIRE’S CONTINUES MOMENTUM IN BEAUTY WITH THE INTRODUCTION OF C BY CLAIRE’S

Published

38 minutes ago

December 3, 2024

The exclusive, new collection of luxurious body care and fragrances is inspired by and tailored to Gen Zalpha’s everyday lifestyles

HOFFMAN ESTATES, Ill., Dec. 3, 2024 /PRNewswire/ — Global fashion brand Claire’s is continuing its evolution within the beauty category with the launch of C by Claire’s, an exclusive line of fragrances and body care products designed to help Gen Zalpha feel their most confident. Building on the success of Claire’s existing body care product collection, the new line gives consumers even more bespoke scents to love and furthers Claire’s impact in the category.

The new collection features luxurious foaming moisturisers, bath and body scrubs, fragrances, hair and body mists, and more, meeting consumers’ demands for beauty products that help them feel empowered in the same way that the brand’s signature fashion accessories have for over 50 years. C by Claire’s is crafted with high-quality ingredients in delightful, original scents like Cherry Bliss, Cloudberry Fizz, Watermelon Kiss, and Salted Caramel, with many catering to the growing gourmand scent trend. Each product is presented in vibrant packaging that reflects the bold, expressive spirit of Claire’s and its consumers.

A marquee of this collection, Claire’s is introducing an all-new signature fragrance, aptly titled “Be The Most” in a nod to the brand’s platform rooted in self-expression. The fragrance boasts a delicate blend of pistachio, vanilla musk, silky sandalwood, and Italian citrus, ideal for both everyday wear and special occasions.

“At Claire’s, we continually seek innovative ways to engage with our consumers and provide the products, categories, and experiences that excite them,” said Meghan Hurley, VP of Marketing at Claire’s. “We know beauty is a space that our Gen Zalpha consumers are passionate about, and we’re thrilled to give them another avenue to express themselves through this new collection.”

Supporting the collection is Claire’s CGI-centric Christmas campaign which comes to life across the brand’s retail, digital and social channels spotlighting Claire’s as the ultimate destination for the gift-giving season across jewellery, toys, tech and more. In time for the festive season, the line also includes gift sets and a “7 Days of Claire’s” advent calendar with daily surprises that are sure to delight.

C by Claire’s is the latest launch in Claire’s evolution into a full-fledged Gen Zalpha lifestyle brand. Priced from £12.00 to £25.00, C by Claire’s is now available in stores and online at Claires.com and will further expand with new products to love, offering even more reasons to shop at Claire’s. Follow along @Clairesstores to stay in the know on the latest collections, style tips, and more.

About Claire’s Holdings LLC
Claire’s Holdings LLC is a fully integrated, global fashion brand powerhouse committed to inspiring self-expression through the creation and delivery of exclusive, well-curated products and experiences. For over 50 years, Claire’s has been a destination for the curious, creative and influential and an industry-leader in ear piercing services, delivering a trendsetting assortment of fashion products and accessories that help young people worldwide style and define themselves. Through its global brands, Claire’s® and Icing®, the company delivers an immersive, omnichannel shopping experience with owned and concession stores throughout North America and Europe as well as franchise stores in the Middle East and South Africa. More information regarding Claire’s is available at corporate.claires.com.

MEDIA CONTACTS
Katie Settle, Katie.Settle@claires.com

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