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silicon photomultiplier market

Silicon Photomultiplier Market Share, Size, Trends, Industry Analysis Report, By Offering; By Type; By Application; By End-User (Healthcare, Automotive, Consumer Electronics and Telecommunications, Aerospace, Oil & Gas, Others); By Region; Segment Forecast, 2022 - 2030

  • Published Date: Mar 2022
  • Pages: 118
  • Format: PDF
  • Report ID: PM2336
  • Base Year: 2021
  • Historical Data: 2018 - 2020

Report Summary

The global silicon photomultiplier market was valued at USD 120.33 million in 2021 and is expected to grow at a CAGR of 7.9% during the forecast period. The silicon photomultiplier (SiPM) is a photodetector that deals with the problem of timing, sensing, and measuring low-light signals at the single-photon level.

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Typically, a silicon photomultiplier is a better replacement for a tube as it blends its low-light identification capabilities with all the benefits of a solid-state detector. It also has advantages such as magnetic field insensitivity, low-voltage functioning, mechanical strength, and outstanding response homogeneity, making it suited for various applications such as hazard and threat detection, diagnostic imaging, and LiDAR.

Also, the market revenue is expected to expand significantly during the forecast period due to increased demand for precise diagnosis in the healthcare industry and sophisticated driver assistance systems. In addition, silicon photomultipliers are widely employed in various applications such as threat detection, reprocessing, and 3D ranging.

Furthermore, due to the global weapon and the illegal trade of nuclear materials, many countries construct their radiation detection equipment and border crossings and seaports worldwide. The U.S. authorized a USD 60.8 million budget in 2021 to provide forces across its southern borders with radiation detectors.

Silicon photomultipliers play a vital role in scintillation detectors. They are combined with detector crystals of various wavelengths only within different wavelengths to create perfect monitoring equipment. Scintillation detectors employing silicon photomultipliers detect X-rays, gamma rays, and neutron decay radiation. As a result, as the need for radiation detectors develops, so will the desire for silicon photomultipliers.

However, the limited penetration of SiPM technology in several regions is restraining the market growth. While SiPMs have developed rapidly in North America, Europe, and Asia Pacific, they remain largely unknown in emerging economies like Southeast Asia, Latin America, and the Middle East, where they have little silicon photomultiplier market penetration. This condition would persist until new possible uses for silicon photomultipliers are investigated, and manufacturers, distributors, and resellers establish a viable supply chain to launch this technology in different world regions. This could impede silicon photomultiplier market expansion in the early years.

 

Industry Dynamics

Growth Drivers
Product launches have enabled the silicon photomultiplier market growth forward. For instance, in March 2021, ON Semiconductor implemented a new RDM-Series silicon photomultiplier (SiPM) range, which adds LiDAR sensor functionalities to the company's product portfolio of advanced sensing products.

The ArrayRDM-0112A20-QFN is the market's first SiPM product, equipped to meet the demands of LiDAR applications in the automotive sector and even beyond. The SiPM's high internal gain permits sensitivity down to the single-photon level, which, when combined with the high PDE, enables detection of the lightest return signals. As a result, also with low, reflecting targets, the range can be extended to higher distances.

Further, in April 2021, Broadcom Inc. and Google Cloud established a strategic partnership to implement and deepen cloud services integration across Broadcom's major software businesses. Broadcom will distribute its security and corporate operations software portfolio on Google Cloud as part of this relationship, allowing companies to implement Broadcom solutions in security, DevOps, and other areas on Google Cloud's trusted, worldwide infrastructure. Broadcom's expansion strategy has been accelerated available on Google Cloud. Broadcom has transitioned many cloud cyber security solutions, including Symantec Web Security Service (WSS) and Cloud Access Security Broker (CASB), to Google Cloud.

Also, in April 2021, Hamamatsu Photonics created a novel profile sensor with inbuilt computing capabilities. The S15366-256 sensor is explicitly designed to compute signals from the incident light point within its processor chip and provide incident light location information. This profile detector also boasts features such as high-speed reading and automatic light spot tracking, which are willing to open up a variety of applications in industrial automation. Thus, the major players' collaborations for various vertical product launches boost market growth during the forecast period.

Report Segmentation

The market is primarily segmented based on offering, type, application, end-user, and region.

By Offering

By Type

By Application

By End-User

By Region

  • Near Ultraviolet Silicon Photomultiplier
  • Red, Green Blue Silicon Photomultiplier
  • Analog
  • Digital
  • LiDAR And 3D Ranging
  • BioPhotonics and Medical Imaging
  • High Energy Physics
  • Radiation Detection & Monitoring
  • Flow Cytometry
  • Healthcare
  • Automotive
  • Consumer Electronics and Telecommunications
  • Aerospace
  • Oil & Gas
  • Others
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Netherlands, Spain, Austria)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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Insight by End-User

Based on the end-user segment, the healthcare segment held the most significant revenue contributor in the global market in 2021 and is expected to retain its dominance in the foreseen period. Healthcare is one of the only industries that grew dramatically during the COVID-19 epidemic.

Medical devices, imaging devices, medical services, healthcare providers, and medicines grew rapidly. Medical imaging is a critical operating area within the healthcare industry that has seen significant expansion before the COVID-19 pandemic. During the pandemic, the increased need for diagnostic testing saw a jump in the availability of medical imaging technologies, including PET scanners, X-ray machines, and MRI machines.

Geographic Overview

In terms of geography, North America dominated with the highest share in 2021. North America has a large market for silicon photomultipliers in healthcare, automotive, consumer electronics and telecommunications, aerospace, oil and gas, and others. The United States now maintains the highest share of the market; this pattern is projected to continue over the forecast period.

Moreover, Asia Pacific is projected to register the highest growth rate. The expanding market potential in the region is primarily attributable to the expansion of developing nations such as China, Japan, and India. The Asia-Pacific market is predicted to increase due to expected growth in China's nuclear power industry, a growing proportion of nuclear power plants in India, the Japanese government's decision to reconsider its nuclear power process, and growing deployments of medical imaging equipment in India.

Competitive Insight

Some of the major players operating in the global silicon photomultiplier market include Ketek GMBH, Excelitas Technologies Corporation, On Semiconductor, Radiation Monitoring Devices, Inc., Broadcom Inc., Hamamatsu Photonics K.K., and Cremat Inc., among others.

Silicon Photomultiplier Market Report Scope

Report Attributes

Details

Market size value in 2021

USD 120.33 million

Revenue forecast in 2030

USD 232.38 million

CAGR

7.9% from 2022 - 2030

Base year

2021

Historical data

2018 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD million and CAGR from 2022 to 2030

Segments covered

By Offering, By Type, By Application, By End-Use, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Key Companies

Ketek GMBH, Excelitas Technologies Corporation, On Semiconductor, Radiation Monitoring Devices, Inc., Broadcom Inc., Hamamatsu Photonics K.K., and Cremat Inc., among others.

Key Take-Away
Polaris Market Research
Silicon Photomultiplier Market Size Global Report, 2022 - 2030