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The global silicon photomultiplier (SiPM) market 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. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
The silicon photomultiplier (SiPM) refers to a solid-state photodetector device with single-photon sensitivity, photon counting capability, and quick response. It is a semiconductor device that generates an output current pulse in response to the absorption of a photon. It is widely used for sensing, timing, and quantifying low-light signals down to the single-photon level. It also offers advantages, such as low-voltage operation, excellent response uniformity, mechanical robustness, insensitivity to magnetic fields, high gain, and temperature stability. In recent years, SiPM has gained traction as an alternative to the traditional photomultiplier tube (PMT) due to its compact size and higher efficiency across numerous industries, including electronics, automotive, healthcare, IT and telecommunication, oil and gas, industrial, and aerospace.
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SiPM is extensively employed in medical imaging, biophotonics, hazard and threat detection, high energy physics, light detection and ranging (LiDAR), and 3D mapping technology. As a result, the increasing product applications and significant growth in the end use sectors represent the primary factors driving the market growth. Additionally, the growing need for accurate diagnosis in the healthcare industry and the rising adoption of LiDAR technology in the aerospace and automotive sectors are augmenting the demand for silicon photomultiplier. Besides this, the widespread usage of the advanced driver assistance system (ADAS) and the surging sales of high-end vehicles are accelerating product adoption rates. Furthermore, the leading players are engaging in research and development (R&D) activities to launch innovative product variants to gain a competitive edge and expand their customer base. Other factors, including the shifting inclination toward semi-autonomous vehicles, the increasing number of nuclear power plants, the growing demand for product detection and imaging, and technological advancements, are also creating a positive market outlook.
IMARC Group provides an analysis of the key trends in each sub-segment of the global silicon photomultiplier (SiPM) market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, device type, application and industry vertical.
Breakup by Type:
Breakup by Device Type:
Breakup by Application:
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Breakup by Industry Vertical:
Breakup by Region:
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The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.
|Base Year of the Analysis||2021|
|Segment Coverage||Type, Device Type, Application, Industry Vertical, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||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.|
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The global silicon photomultiplier (SiPM) market was valued at US$ 120.8 Million in 2021.
We expect the global silicon photomultiplier (SiPM) market to exhibit a CAGR of 6.50% during 2022-
The rising utilization of silicon photomultiplier in medical imaging, hazard and threat detection, light
detection and ranging (LiDAR), 3D mapping technology, etc., is currently driving the global silicon
photomultiplier (SiPM) market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown
regulations across several nations resulting in temporary closure of numerous end-use industries for
Based on the device type, the global silicon photomultiplier (SiPM) market has been segmented into
analog SiPM and digital SiPM. Currently, analog SiPM holds the majority of the total market share.
Based on the industry vertical, the global silicon photomultiplier (SiPM) market can be divided into
automotive, healthcare, IT and telecommunication, aerospace, oil and gas, and others. Among these,
the automotive sector currently exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin
America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global silicon photomultiplier (SiPM) market include 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.
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