The Europe Silicon Photomultiplier (SiPM) Market would witness market growth of 6.6% CAGR during the forecast period (2021-2027).
The silicon photomultiplier technology is primarily utilized to improve the sensitivity & timing of photodetection applications. Additionally, silicon photomultiplier is gaining popularity across the globe because these silicon photomultipliers provide several advantages in the identification of light wavelengths in near-infrared to the near-ultraviolet range and thus, manufacturers are highly adopting these products.
These silicon photomultipliers provide better efficiency as compared to heavy photomultiplier tubes and also quantify, detect, and calculate the levels of light, due to which the demand for silicon photomultipliers has increased, hence supporting the overall growth of the market. One of the major benefits of silicon photomultipliers is that they can detect a wide spectrum of photons in a host of applications, which is estimated to bolster the growth of the silicon photomultiplier market over the forecast period.
Europe would acquire a significant position and is anticipated to garner a considerable growth rate during the forecast period. The technologically advanced nations of the European region are highly adopting improved silicon photomultiplier for various applications in different industry verticals, which would further augment the growth of the regional market during the forecast period. In addition, there are many companies that are using these sensors and technologies to make their products better.
The presence of various key companies in this region along with the benefits offered by these sensors is estimated to bolster the growth of the regional silicon photomultiplier market during the forecast period. Additionally, the rapidly growing demand for silicon photomultiplier in the automotive sector to use it in ADAS for better performance without producing much sound is fueling the growth of the regional market.
The Germany market dominated the Europe Aerospace Silicon Photomultiplier (SiPM) Market by Country 2020, thereby, achieving a market value of $1,236.4 Thousands by 2027. The UK market is showcasing a CAGR of 6.5% during (2021 - 2027). Additionally, The France market is anticipated to witness a CAGR of 8.1% during (2021 - 2027).
Based on Type, the market is segmented into NUV SiPMs and RGB SiPMs. Based on Device Type, the market is segmented into Analog SiPMs and Digital SiPMs. Based on Application, the market is segmented into Medical Imaging, LiDAR, High Energy Physics, Hazard & Threat Detection and Others. Based on End User, the market is segmented into Healthcare, Automotive, IT & Telecom, Aerospace, Oil & Gas and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Silicon Photomultiplier (SiPM) Market Size will Hit $190.8 Million by 2027, at a CAGR of 7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Broadcom, Inc., Koninklijke Philips N.V., TE Connectivity Ltd., ON Semiconductor Corporation, Hamamatsu Photonics K.K., AdvanSiD, Cremat, Inc., Excelitas Technologies Corp., Ketek GmbH, and Dynasil Corporation of America
By Type
By Device Type
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By End User
By Country
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