Silicon Photomultiplier (SiPM) Market: Top Impacting Factors, Investment Pockets and Winning Strategies 2021–2030
PORTLAND, OR, UNITED STATES, July 7, 2023/EINPresswire.com/ — As per the report by Allied Market Research, the global silicon photomultiplier (SiPM) industry was pegged at $113.7 million in 2020, and is projected to reach $221.0 million by 2030, growing at a CAGR of 6.8% from 2021 to 2030. Rise in use in the automotive industry and surge in demand for detection and imaging application drive the global silicon photomultiplier market.
However, technological incompatibility of SiPMs hampers the market growth. On the contrary, high demand from the Asia-Pacific region is expected to open up new opportunities for the market players in the future.
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Key Benefits For Stakeholders
• This study comprises analytical depiction of the global silicon photomultiplier (SiPM) market size along with the current trends and future estimations to depict the imminent investment pockets.
• The overall silicon photomultiplier market analysis is determined to understand the profitable trends to gain a stronger foothold.
• The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
• The current silicon photomultiplier market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
• Porter’s five forces analysis illustrates the potency of the buyers and the silicon photomultiplier market share of key vendors.
• The report includes the silicon photomultiplier (SiPM) market trends and the market share of key vendors.
The medical imaging segment to manifest the highest CAGR through 2030
By application, the medical imaging segment is estimated to portray the highest CAGR of 8.5% during the forecast period, due to adoption of photonics in life science research. However, the LiDAR segment held the largest share in 2020, contributing to around one-third of the global silicon photomultiplier market, owing to rise in use of LiDAR in the automotive industry for ADAS application with silicon photomultipliers.
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The NUV SiPM segment held the lion’s share
By type, the NUV SiPM segment held the largest share in 2020, accounting for nearly two-thirds of the global silicon photomultiplier market, due to its benefits such as high gain, extremely good timing performance, and low operating voltage. However, the RGB SiPM segment is projected to register the highest CAGR of 7.7% during the forecast period, as they are insensitive to the magnetic field, and have high integration level.
Asia-Pacific held the largest share, North America to grow steadily
By region, the market across Asia-Pacific dominated in 2020, accounting for nearly half of the market. Moreover, the region is projected to manifest the highest CAGR of 7.9% during the forecast period, due to growing economy and advancements in regulatory framework of sensors. The global silicon photomultiplier market across North America is expected to register a CAGR of 5.0% from 2021 to 2030.
Major Market Players:
• AdvanSiD
• Cremat Inc
• Broadcom Inc.
• Hamamatsu Photonics K.K.
• Excelitas Technologies Corporation
• On Semiconductor
• Ketek GMBH
• Radiation Monitoring Devices, Inc.
• Philips
• TE Connectivity
Key Silicon Photomultiplier (SiPM) Market Segments
By Type
• NUV SiPMs
• NUV-HD SiPM Technology
• NUV-HD Cryo SiPM Technology
• RGB SiPMs
• High-cell Count RGB SiPMs
• Low-cell Count RGB SiPMs
By Device Type
• Analog SiPMs
• Digital SiPMs
By Application
• LiDAR
• Medical Imaging
• High Energy Physics
• Hazard & Threat Detection
• Others
By Industry Vertical
• Automotive
• Healthcare
• IT & Telecommunication
• Aerospace
• Oil & Gas
• Others
By Region
• North America
◦ U.S.
◦ Canada
◦ Mexico
• Europe
◦ UK
◦ Germany
◦ France
◦ Italy
◦ Rest of Europe
• Asia-Pacific
◦ China
◦ Japan
◦ India
◦ South Korea
◦ Rest of Asia-Pacific
• LAMEA
◦ Latin America
◦ Middle East
◦ Africa
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