The global silicon photomultiplier market size was US$ 120.33 million in 2021. The global silicon photomultiplier market size is forecast to reach US$ 238.5 million by 2030, growing at a compound annual growth rate (CAGR) of 7.9% during the forecast period from 2022 to 2030.

The silicon photomultiplier (SiPM) is a photodetector, which includes issues of timing, sensing, and analyzing low-light signals. It is usually a better alternative to the photomultiplier tube. Since they combine the low-light capability of a photomultiplier tube with the benefits of a solid-state sensor. Other features of this sensor include insensitivity to magnetic fields, low voltage operation, mechanical strength, and exceptional uniformity of response, which make it suitable for a range of applications, including hazard and threat detection, medical imaging, and LiDAR. Furthermore, silicon photomultiplier photodetection efficiency ranges from 20 to 50%. It depends on wavelength & device, similar to a silicon PMT (photomultiplier tube).

Factors Influencing Market Growth

• Among the factors driving the global silicon photomultiplier market growth are the surge in application in the automotive industry and the increase in demand for detection and imaging applications.
• The silicon photomultiplier market is growing due to the growing demand for product detection and high imaging products.
• The incompatibility of silicon photomultiplier technology may slow down the overall market growth.
• A growing number of applications in the healthcare sector will create lucrative opportunities for the silicon photomultiplier industry.

Impact Analysis of COVID-19

The COVID-19 has significantly affected the electronic and semiconductor industries. A growing number of COVID-19 cases forced businesses and manufacturing units to close in various countries. In addition, the partial or complete lockdown has disrupted the global supply chain, posing challenges for manufacturers to reach their customers. This has adversely affected production. Therefore, these factors have negatively impacted global market growth.

Regional Insights 

North America held dominant dominance and the highest market share in 2021. Among the major markets for silicon photomultipliers in North America are healthcare, automotive, consumer electronics and telecommunications, aerospace, oil and gas, and others.

The Asia Pacific is forecast to grow at the fastest rate during the forecast period. Growing economies in the region, including China, Japan, and India, are contributing to the expansion of the market. In addition to expected growth in China's nuclear industry, a growing number of nuclear power plants in India, the Japanese government's decision to reconsider its nuclear policy, and a growing number of medical imaging equipment deployments in India, the Asia Pacific market is forecast to grow.

Leading Competitors

The leading prominent companies profiled in the global silicon photomultiplier market are:

• AdvanSiD
• Broadcom Incorporated
• Cremat Incorporated
• Excelitas technologies corporation
• Hamamatsu Photonics K.K.
• Ketek GmbH
• on semiconductor
• Philips
• Radiation Monitoring Devices, Incorporated
• TE connectivity
• Other Prominent Players

Scope of the Report

The global silicon photomultiplier market segmentation focuses on Offering, Type, Application, End-Use, and Region.

Segmentation based on Offering

• Near Ultraviolet Silicon Photomultiplier
• Red, Green Blue Silicon Photomultiplier

Segmentation based on Type

• Analog
• Digital

Segmentation based on Application

• LiDAR And 3D Ranging
• BioPhotonics and Medical Imaging
• High Energy Physics
• Radiation Detection & Monitoring
• Flow Cytometry

Segmentation based on End-Use

• Healthcare
• Automotive
• Consumer Electronics and Telecommunications
• Aerospace
• Oil & Gas
• Others

Segmentation based on Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America