The silicon photomultiplier technology is mainly used to enhance the sensitivity and timing of photo detection applications. In addition, as silicon photomultipliers offer immense benefits in the detection of light wavelengths in near-infrared to the near-ultraviolet range, silicon photomultiplier sensors are growing popularity worldwide. In addition, as silicon photomultiplier offers higher efficiency in comparison with heavy photomultiplier tubes while quantifying, detecting, and timing the different levels of light, the demand for silicon photomultipliers has witnessed consistent growth over the past decade. Another major advantage of silicon photomultipliers is that they have the ability to identify a broad spectrum of photons in a host of applications– a factor that is expected to provide a boost to the global silicon photomultiplier market during the assessment period.
In the current scenario, silicon photomultipliers are increasingly used for an array of applications, including sorting, 3D ranging, recycling, and threat detection. Moreover, as silicon photomultiplier sensors can resist mechanical shocks, silicon photomultiplier sensors are increasingly being used in a range of light detection applications. At present, market players involved in the silicon photomultiplier market are increasingly focusing on the design and size of sensors, and offering customized solutions to their clients.
At the back of these factors, along with consistent progress in technology, the global silicon photomultiplier market is on the course to attain a market value of US$ 167.5 Mn by the end of 2027.
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Silicon Photomultipliers Mark Beginning of New Era in Photo Detection
The rapid progress in modern semi-conductor structures has paved the way for innovations and fast-paced developments in the silicon photomultiplier market. Silicon photomultipliers largely gained popularity, as they addressed various problems in metal resistive semiconductor (MRS) structures. The growing adoption of photonics in life science research is a major factor that is expected to propel the demand for silicon photomultipliers during the assessment period.
In the current scenario, silicon photomultipliers have emerged as a cutting-edge photon detection solution and as per current trends, the demand is expected to witness a further boost in the upcoming years. In addition, as per stakeholders across the current silicon photomultiplier market landscape, silicon photomultipliers could potentially open new avenues for next-generation bio-photonic instruments and techniques. The consistent development in new technologies and research is expected to play an essential role in the development of the global silicon photomultiplier market during the stipulated timeframe of the study.
Growing Adoption of Silicon Photomultipliers in Various Applications to Propel Market
The adoption of silicon photomultipliers in various applications, including quantum optics, quantum information research, two-photon imaging, and medical is expected to provide considerable opportunities for players involved in the current silicon photomultiplier market landscape. In the past few years, quantum technologies have garnered considerable attention, owing to potential benefits of the same in information processing. Furthermore, the photonics field continues to establish itself as an optimal platform for high transmission rates and robustness of optical states against de-coherence effects due to which, the demand for silicon photomultipliers is expected to witness considerable growth. In addition, silicon photomultipliers are increasingly growing in demand due to their low costs, robust build, and compactness.
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In the medical sector, silicon photomultipliers are gradually replacing photomultiplier tubes and avalanche photodiodes, particularly in PET and medical imaging applications. Some of the major medical fields wherein silicon photomultiplier are likely to gain considerable traction include PET/MR and hadron therapy. Over the past few years, 3D-silicon photomultipliers have gained considerable adoption due to advancements in the LiDAR technology, mainly in the automotive industry. Other applications wherein silicon photomultipliers are being extensively used include LiDAR & 3D ranging, analytical instruments, and high energy physics– a major factor expected to boost the market.
Market Growth Likely to Remain Sluggish amid COVID-19 Pandemic
The COVID-19 pandemic is expected to have a negative impact on the overall growth of the silicon photomultiplier market, majorly in 2020. While research activities are likely to continue at a consistent pace, operations on the manufacturing side are likely to face the heat due to stringent lockdown measures and various other restrictions imposed by governments. While the demand from the automotive sector is likely to remain sluggish, market players are anticipated to explore the potential applications of silicon photomultipliers in the medical sector to curb the transmission of the novel coronavirus. While market growth is likely to remain bleak in 2020, the market is expected to show signs of recovery in the last quarter of 2020.
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