Silicon Photomultiplier Market 2022 - Market Size & Forecast, Industry Trends, Manufacturers Analysis, & Opportunities 2030

Introduction: -

Silicon photomultipliers (SiPMs) are photodetector sensors that deal with the problem of sensing, timing, and quantifying low-light signals to the single-photon level. They are typically solid-state single-photon-sensitive devices built on Single-photon avalanche diode (SPAD) and are integrated on a common silicon substrate. These devices are designed with high efficiency and can sense a wide range of signals from infrared to UV. They offer features such as high mechanical strength, excellent uniformity of response, insensitivity to magnetic fields, and low-voltage operation. They are capable of being used in various applications, such as high energy physics, novel scintillators for research and industry, hazard & threat detection, 3D-Ranging, detection of nuclear medicine, LiDAR, medical imaging, and sorting and recycling, etc. The global silicon photomultiplier market is anticipated to witness growth at a compounded annual growth rate (CAGR) of 7.2% during the forecast period of 2022-2030.

 

Growth Drivers:

In recent years, silicon photomultipliers have been finding an increasing number of applications in the global medical sector. They are being highly considered for PET/MR and hadron therapies and are also seen to be replacing avalanche photodiodes and photomultiplier tubes, specifically in PET and medical imaging applications. This is creating ample growth opportunities for the global silicon photomultiplier market.

Moreover, the major market players operating in the global silicon photomultiplier market are allocating huge amounts of funds to develop and launch technologically advanced silicon photomultipliers into the market. They are currently focusing on introducing cost-effective products & solutions for different industrial applications and improving the size and design of sensors. All these advancements are slated to propel the growth of the global silicon photomultiplier market during the forecast period.

The augmenting popularity of silicon photomultipliers across the globe, the proliferating need for accurate diagnosis in the healthcare industry, the rising demand for advanced driver assistance systems, and the escalating advancements in technology are among other factors primarily driving the growth of the global silicon photomultiplier market during the forecast period.

On the other hand, several technological limitations, including higher noise and the restricted penetration of SiPM technology in various regions, are expected to hamper the growth of the global silicon photomultiplier market during the forecast period.

Silicon Photomultiplier Market Segmentation:

By Offering:

·         Near Ultraviolet Silicon Photomultiplier

·         Red, Green Blue Silicon Photomultiplier

 

By Type:

·         Analog Silicon Photomultiplier

·         Digital Silicon Photomultiplier

 

By Application:

·         LiDAR And 3D Ranging

·         Bio Photonics and Medical Imaging

·         High Energy Physics

·         Radiation Detection & Monitoring

·         Flow Cytometry

 

By End User:

·         Healthcare

·         Automotive

·         Consumer Electronics & Telecommunications

·         Aerospace

·         Oil & Gas

·         Others

 

By Region:

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa

 

Silicon Photomultiplier Market: Offering Review:

Based on offering, the global silicon photomultiplier market is categorized into near ultraviolet silicon photomultiplier and red, green, blue silicon photomultiplier. The near ultraviolet silicon photomultiplier segment is predicted to achieve the highest growth in the market during the forecast period of 2022-2030. This can be attributed to hospitals' surging demand for near ultraviolet silicon photomultipliers for medical imaging applications.

 

Silicon Photomultiplier Market: Type Review:

Based on type, the global silicon photomultiplier market is segmented into analog silicon photomultiplier and digital silicon photomultiplier. The analog silicon photomultiplier segment held the largest market share in 2021. The segment’s dominance is expected to continue over the forecast period of 2022-2030. This can be attributed to the high adoption of analog silicon photomultipliers in radiation detection and flow cytometry due to their extensive collection areas, and high peak detection efficiency is the major factor driving the growth of this segment. However, the digital silicon photomultiplier segment is projected to register the highest CAGR in the market during the forecast period of 2022-2030.

 

Silicon Photomultiplier Market: End User Review:

Based on end user, the global silicon photomultiplier market is classified into healthcare, automotive, consumer electronics and telecommunications, aerospace, oil & gas, and others. The healthcare segment captured the largest share of the market in 2021. The trend is expected to continue over the forecast period of 2022-2030, mainly due to the high demand for medical imaging devices such as X-ray machines, PET scanners, and MRI machines worldwide. However, the consumer electronics & telecommunication segment is predicted to attain the highest CAGR in the market during the forecast period of 2022-2030. The burgeoning demand for consumer electronics along with the growing need for SiPMs for underwater optical communication, are among the predominant factors anticipated to fuel the growth of this segment during the forecast period.

 

Regional Outlook:

The silicon photomultiplier research report offers detailed analysis and forecasts for five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

 

The North American region commanded the largest share of the global silicon photomultiplier market in 2021, followed by the Asia Pacific. The region is predicted to remain dominant throughout the forecast period of 2022-2030. The large share of the region can be well ascribed to factors such as the presence of a well-established medical imaging infrastructure in hospitals in the region, the rapidly rising healthcare expenditure, the increasing penetration of LiDAR technology, and the high adoption & demand for silicon photomultipliers across several industry verticals in the region. The U.S. holds the majority of the market share in the region.

 

The Asia Pacific region is projected to experience the highest growth in the silicon photomultiplier market during the forecast period of 2022-2030. The growth of the market in the region can be primarily attributed to a host of contributing factors, including the rising demand for various medical imaging devices in hospitals and clinics, the expansion of the nuclear power industry, especially in China, coupled with the growing number of nuclear power plants in India, the surging patient & population base and the increasing number of silicon photomultiplier vendors in the majority of the emerging countries present in the region. India, China, and Japan are among the leading contributors to the growth of the market in the region.

 

The report also identifies the country market outlook for silicon photomultiplier, covering country-wise market size, growth rate, market share, segmentation, leading players, current trends, and opportunities.

 

Key Companies in Silicon Photomultiplier Market:

The research report offers a competitive analysis of prominent companies operating in the global silicon photomultiplier market. Some of the leading players profiled in the market research report include:

·         Philips

·         Dyansil

·         AdvanSiD

·         Broadcom Inc.

·         Cremat Inc

·         Excelitas technologies corporation

·         Hamamatsu Photonics K.K.

·         Ketek GMBH

·         ON Semiconductor

·         First Sensor AG

·         Other Players