The latest research study “Silicon Photomultiplier (SiPM) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global silicon photomultiplier market size reached a value of US$ 120.8 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 179.2 Million by 2027 exhibiting a CAGR of 6.50% during 2022-2027.
A silicon photomultiplier (SiPM), also known as a multi-pixel photon counter (MPPC), is a solid-state photodetector device with single-photon sensitivity, quick response, and photon counting capability. Some commonly used SiPM devices include time-of-flight positron emission tomography (TOF-PET), 3D ranging, biophotonics, lifetime fluorescence spectroscopy, high energy physics (HEP), and medical imaging. They are used for timing, sensing, and quantifying low-light signals down to the single-photon level. They also provide various benefits, such as excellent response uniformity, low-voltage operation, mechanical robustness, temperature stability, and insensitivity to magnetic fields. As a result, SiPM is preferred over traditional photomultiplier tube (PMT) owing to its compact size and higher efficiency across healthcare, aerospace, information technology (IT), telecommunication, oil and gas, industrial, electronics, and automotive industries.
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Silicon Photomultiplier (SiPM) Market Trends and Drivers:
The market is primarily driven by the extensive adoption of SiPM in light detection and ranging (LiDAR), 3D mapping technology, hazard detection, and other technologies. In addition, the surging need for accurate diagnosis in the healthcare industry and the rising adoption of LiDAR technology in the aerospace and automotive sectors are accelerating product demand across the globe.
Moreover, the increasing utilization of the advanced driver assistance system (ADAS) and the surging sales of high-end vehicles are providing a positive thrust to the market growth.
Apart from this, the leading market players are engaging in research and development (R&D) activities to introduce innovative product variants, gain a competitive edge, and expand their customer base. This, coupled with the shifting inclination toward semi-autonomous vehicles and the increasing number of nuclear power plants, is anticipated to propel the market growth in the coming years.
Global Silicon Photomultiplier (SiPM) Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Silicon Photomultiplier (SiPM) Companies:
AdvanSiD, Berkeley Nucleonics Corporation, Broadcom Inc., Cremat Inc, Dynasil Corporation, Excelitas Technologies Corp., First Sensor AG (TE Connectivity), Hamamatsu Photonics K.K., John Caunt Scientific ltd., PicoQuant and Semiconductor Components Industries LLC.
The report has segmented the market on the basis of region, type, device type, application and industry vertical.
Breakup by Type:
- NUV SiPM
- RGB SiPM
Breakup by Device Type:
- Analog SiPM
- Digital SiPM
Breakup by Application:
- Medical Imaging
- High Energy Physics
- Hazard and Threat Detection
Breakup by Industry Vertical:
- IT and Telecommunication
- Oil and Gas
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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