Sivers IMA Holding AB (Nasdaq First North Growth Market: SIVE) today announced that its subsidiary, CST Global, will change the name of its Fiber business area to Photonics, to reflect strong demand and rising opportunities in new market verticals.
CST Global has during the last year experienced excellent traction outside its traditional high-growth optical fiber communications market. The new verticals are within the Photonics area optical sensors/sensing and optical wireless communications.
CST Global’s customer demand is driven by high growth in many vertical, photonics markets including:
- The optical communications market (including “old” fiber vertical), set to grow from $1.385bn today to $3.397bn by 2024.*
- Optical sensors/sensing: Lidar for the Automotive Industry. Biometrics, security, Hazard & Meteorology sensors/sensing for consumer electronics. Where the total Lidar market in cars est. to reach $18bn by 2032 according to Yole Develeopment and Woodside Capital Partners April 2018 ”The automotive LiDAR Market”
- Optical wireless communications technology (Li-Fi), where the overall system market is expected to reach USD 75 billion by 2023, at a CAGR of 97 percent between 2018 and 2023, according to Market and Markets report Sept 2018
Additionally, it is announced semiconductor industry authority, William McLaughlin recently was been appointed Managing Director of CST Global, demonstrating the company’s commitment to achieving high growth in these market sectors. William has more than 25 years’ experience within the Semiconductor Industry, having moved from advanced, display platform start-up, SmartKem, where he was COO. He previously held Senior Management and Executive roles at semiconductor industry giants GlobalFoundries, Teledyne e2V and Motorola and board-level roles at industry start-ups SmartKem and Silecs.
William McLaughlin said, “CST Global’s market opportunities are expanding quickly. We are seeing increased demand from new, large customers in every vertical market, enabled by our state-of-the-art, photonics devices. The new name, Photonics, encompasses CST Global’s new and existing business.”
“William is a fantastic addition to the team and has a tremendous amount of knowledge key to driving the Photonics business into the volume phase that is in front of us,” said Anders Storm, CEO of Sivers IMA. “The photonics market is exploding, and III-V compound semiconductors will be a critical technology in consumer electronics and in many other products over the next 10 years. We have many new potential customers in these new verticals requesting discussions. Updating our business area name to Photonics from Fiber best reflects future market demand”.
CST Global is a wholly owned subsidiary to Sivers IMA Holding AB and is Great Britain’s leading, independentI II-IV optical semiconductor supplier.
*Yole Développement (Yole). Edge Emitting Laser (EEL) 2019 – Market and Technology Trends.
For more information, please contact:
Anders Storm, CEO
Tel: +46 70 262 6390
Erik Penser Bank is appointed Sivers IMA Holding AB’s Certified Advisor at Nasdaq First North Growth Market.
Tel: +46 8 463 80 00
Sivers IMA Holding AB is a leading and internationally renowned supplier, publicly traded under SIVE at Nasdaq First North Growth Market Stockholm. The wholly owned subsidiaries Sivers IMA and CST Global develop, manufacture and sell cutting-edge chips, components, modules and subsystems based on proprietary advanced semiconductor technology in microwave, millimeter wave and optical semiconductors. Headquarters in Stockholm, Sweden. Learn more at https://siversima.com.