Plasmonic Chip: Introduction
- Plasmonic chip is a combination of electronics and photonics that has led to remarkable data processing and transport capabilities.
- Plasmonic chips are majorly used to speed up data transmission in fiber optic networks.
- The various applications of plasmonic chips are in consumer electronics, aerospace, telecommunications, automotive, and others.
Rise in Demand in Consumer Electronics
- Consumer electronics is likely to be the fastest growing segment of the global plasmonic chip market during the forecast period.
- Plasmonic chips are majorly used in various consumer electronic devices. Increasing adoption of IoT in home electronics such as smart TV sets, washing machines, and home appliances, rising adoption of wearable devices, increase in the demand for application-specific microcontroller units, and flexible SoC type architecture are the major factors that propel the consumer electronics segment of plasmonic chips.
- The unique optical properties of plasmonics and tremendous synergy attained by integrating plasmonic, electronic, and conventional dielectric photonic devices on the same chip creates huge advantage, which propels the growth of the global plasmonic chip market
- Some of the restraints of the plasmonic chip market are high cost and disruptions in the supply chain due to COVID-19.
Asia Pacific to Lead the Plasmonic Chip Market
- In terms of region, the global plasmonic chip market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- Asia Pacific is expected to see fastest growth in the plasmonic chip market during the forecast period due to increasing demand from countries such as Japan, China, Taiwan, South Korea, and India.
- Moreover, Asia Pacific is the biggest hub for consumer electronics. Rising number of data centers, growing IoT technology in the region, and the adoption of automation by many industries is likely to create lucrative opportunities for the growth of the plasmonic chip market during the forecast period.
- Europe follows Asia Pacific in terms of share of the plasmonic chip market, since most of the electronics manufacturing companies operate in the region.
- The plasmonic chip market in North America is expected to expand at a substantial rate during the forecast period due to the rise in industrial automation. On the other hand, the market in Middle East & Africa and South America is estimated to expand at a moderate pace during the forecast period.
Key Players Operating in the Global Plasmonic Chip Market
The global plasmonic chip market was highly fragmented in 2019. Major players operating in the global market are focusing on technological advancements and expansion to meet the rising demand for plasmonic chips. Moreover, manufacturers are undertaking mergers and acquisitions for the development of innovative products.
Key players operating in the global plasmonic chip market include:
- NXP Semiconductors N.V
- Huawei Technologies
- Texas Instruments Incorporated
- Avago Technologies
- Intel Corporation
- STMicroelectronics N.V.
Global Plasmonic Chip Market: Research Scope
Global Plasmonic Chip Market, by Application
- Consumer Electronics