Silicon Photomultiplier Market

Report Scope & Overview:

Silicon Photomultiplier Market Size was valued at USD 132.17 million in 2022 and is expected to reach USD 242.84 million by 2030, growing at a CAGR of 7.9% over the forecast period 2023-2030.

Silicon photomultiplier (SiPM) is a photodetector, which meets the problem of counting time, sensor, and measuring low light signals to a single image level. In general, silicon photomultiplier offers another excellent photomultiplier tube that combines the low light detection power of a photomultiplier tube with all the advantages of a solid-state sensor.

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MARKET DYNAMICS:

KEY DRIVERS:

• SiPMs are becoming more popular in LiDAR and 3D mapping technology.

• In medical imaging, there is an increasing demand for silicon photomultipliers.

RESTRAINTS:

• In a number of regions, SiPM technology has a low penetration rate.

OPPORTUNITIES:

• SiPMs' ability to replace existing technologies.

• Growing demand for SiPMs for radiation detection and monitoring.

CHALLENGES:

• Acute silicon scarcity as a result of supply chain disruption during the COVID-19 pandemic. 

IMPACT OF COVID-19:

The advent of COVID-19 has significantly affected the electronics and semiconductor sector. Business and production units in various countries were closed, due to an increase in the number of cases of COVID-19. In addition, the partial or complete lockdown has disrupted a global supply chain that creates challenges for manufacturers to reach customers. The COVID-19 epidemic is affecting society and the economy as a whole. The impact of this outbreak is growing day by day and is affecting businesses around the world. This problem creates uncertainty in the stock market, declining business confidence, a sharp decline in purchasing power, and increased panic among customer segments. Asian and European countries under the Lockdowns have severely lost business and revenue, due to the closure of production units in the region. The performance of the production and manufacturing industries has had a significant impact on the outbreak of COVID-19, leading to a significant growth in the silicon photomultiplier market revenue. The COVID-19 epidemic has had an impact on the electronics sector as the manufacturing sector has stagnated, which is also in high demand for industrial and semiconductor products in the industry. Its major impacts include major production disruptions throughout Europe, and disruptions in China's export sectors, which could disrupt the silicon photomultiplier market.

Based on Type, the silicon photomultiplier market is segmented into Analog Silicon Photomultiplier and Digital Silicon Photomultiplier.

The analog silicon photomultipliers have a large collection capacity and high-resolution detection capabilities, making them suitable for applications such as Cherenkov imaging, and Near Infra-Red Spectroscopy (NIRS). They are also used in other applications from medical thinking to flow cytometry. Most photodetectors have a higher signal-to-noise (SNR) signal than are required for flow cytometry applications. This excessive noise can limit cell filtration during histogram processing.

Based on End-User, the silicon photomultiplier market is segmented into Healthcare, Consumer Electronics and Telecommunications, Oil & Gas, Automotive, Aerospace, and Others.

The Consumer Electronics and Telecommunications industry has been growing rapidly over the past few years. During the COVID-19 epidemic, consumer electronics prices soared that it caused a shortage of silicon reserves. Silicon photomultipliers are used in various analytical tools such as scintillation detectors and fluorescence detectors. Increased demand for silicon photomultipliers for scintillation detectors for radiation and monitoring and the growing demand for SiPMs for underwater optical connections is expected to further market growth in this segment.

MARKET SEGMENTATION:

BY OFFERING

• Near Ultraviolet Silicon Photomultiplier

• Near Ultraviolet -HD Silicon Photomultiplier Technology

• Near Ultraviolet -HD Cryo Silicon Photomultiplier Technology

• Red, Green Blue Silicon Photomultiplier

• Low-cell Count Red, Green Blue Silicon Photomultiplier

• High-cell Count Red, Green Blue Silicon Photomultiplier

BY TYPE

• Analog Silicon Photomultiplier

• Digital Silicon Photomultiplier

BY APPLICATION

• LiDAR And 3D Ranging

• High Energy Physics

• Flow Cytometry

• BioPhotonics and Medical Imaging

• Radiation Detection & Monitoring

BY END USER

• Healthcare

• Consumer Electronics and Telecommunications

• Oil & Gas

• Automotive

• Aerospace

• Others

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REGIONAL ANALYSIS:

North America holds the largest share of the silicon photomultiplier market. North America presents a wide range of silicon photomultipliers to all verticals in the industry such as healthcare, automotive, consumer electronics and communications, aerospace, oil and gas, and more. Currently, the US has the largest market share of silicon photomultipliers in North America; this practice is expected to continue during the forecast period. Silicon photomultipliers are important components of imaging equipment such as PET scanners, X-ray machines, and MRI scanners. The rising cost of healthcare is causing great demand for healthcare equipment, and as a result, silicon photomultipliers are high in demand.

REGIONAL COVERAGE:

• North America

  • USA

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Rest of Europe

• Asia-Pacific

  • Japan

  • South Korea

  • China

  • India

  • Australia

  • Rest of Asia-Pacific

• The Middle East & Africa

  • Israel

  • UAE

  • South Africa

  • Rest of the Middle East & Africa

• Latin America

  • Brazil

  • Argentina

  • Rest of Latin America

COMPETITIVE LANDSCAPE:

The key players in the Silicon Photomultiplier market are ON Semiconductor, Hamamatsu Photonics, KETEK, Cremat, Philips, TE connectivity, Broadcom, First Sensor, AdvanSiD, Excelitas Technologies, Radiation Monitoring Devices & Other Players