Photonic Integrated Circuit (PIC) Market Size, Share, Opportunities, And Trends By Integration (Hybrid Photonic Integration, Monolithic Photonic Integration), By Raw Material (Gallium Arsenide, Indium Phosphide, Silica On Silicon, Silicon On Insulator, Lithium Niobate), By End-User (Military And Defense, Aerospace, Communication And Technology, Telecommunication, Energy And Power, Healthcare, Others), And By Geography - Forecasts From 2023 To 2028
- Published : Feb 2023
- Report Code : KSI061611157
- Pages : 114
The global photonic integrated circuit (PIC) market is valued at US$496.09 million in 2017 and is estimated to reach US$1716.3 million by 2022 exhibiting a CAGR of 28.18% during the forecast period. PIC is contemplated to grow as one of the most reliable and promising solutions for optoelectronic devices owing to its higher efficiency, low energy consumption, and higher operational speed. It is a notable competitor of the systems based entirely on electronic devices as it offers higher bandwidth. Photonic integrated circuits will prove to be a revolution in the future in its sector owing to its technological advancement. Unlike other systems that use electrons, it uses protons as data carriers. Integration of several functionalities can be done in a single chip owing to the development of the integrated indium phosphide-based PIC at a modest cost. One of its major markets is the optical sensors market which finds its application in industries such as energy, defense, aerospace, and healthcare among others. However, rising investments in research and development on photonic integrated circuits are still being made in order to fully integrate electronics and optics on a single circuit.
On the basis of end-users, the photonic integrated circuit market is segmented as military and defense, aerospace, telecommunications, communication and technology, energy and power, healthcare, and others. Sectors like telecommunications, communication, and technology will experience the highest demand owing to their ability to process huge quantities of data at enormous speeds which makes them a significant contributor to intensifying the transmission capacity of optical fiber communications. It is a groundbreaking technology that not only improves performance but is also reliable in providing features such as a reduction in power consumption and heat dissipation.
On the basis of geography, the photonic integrated market is segmented as North America, Europe, the Middle East and Africa, Asia-Pacific, and South America. Currently, North America holds the maximum share of the PIC market owing to the increasing usage in data centers and WAN applications of optical fiber communication systems. However, the Asia-Pacific region is expected to account for the largest market share at the end of the forecast year due to rapid economic growth in the region leading to high demand for photonic integrated circuits.
The photonic integrated circuit market is highly competitive due to the presence of well-diversified international, regional, and local players. However, some big international players dominate the market share owing to their brand image market reach. With a high market growth rate and increase in demand, this sector is attracting more players to enter the market resulting in a more competitive photonic integrated circuit market. The competitive landscape provides the strategy and investment details in order to boost their presence.
Some of the leading players in the photonic integrated circuit market include Infinera Corporation, Huawei Global, Intel, NeoPhotonics, OneChip Photonics, Avago Technologies, Ciena, Oclaro Inc, and JDS Uniphase Inc.
The photonic integrated circuit market has been segmented on the basis of integration, raw materials, end-users, and geography.
- By Integration
- Hybrid Photonic Integration
- Monolithic Photonic Integration
- By Raw Material
- Gallium Arsenide
- Indium Phosphide
- Silica on silicon
- Silicon on insulator
- Lithium Niobate
- By End-User
- Military and Defense
- Communication and Technology
- Energy and Power
- By Geography
- North America
- South America
- Middle East & Africa
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