Photonic Integrated Circuit Market Synopsis:
The Photonic Integrated Circuit (PIC) Market is projected to expand at a CAGR of 26% during the forecast period 2018 to 2023
The Photonic Integrated Circuit (PIC) Industry report highlights that he estimated market value is poised to reach USD 1,492.4 Mn towards the end of 2023 up from USD 385.5 Mn in 2017. PIC consists of photonic sensors and other electronic components for converting the light signals into electric form. The developments in sensor technology are anticipated to boost the growth trajectory of the photonic integrated circuit market in the upcoming years.
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The rapid developments in photonics and fiber optics have boosted the growth trajectory of the photonic integrated circuit market in the recent years. The commercialization of 5G is expected to further catapult the market on upward trajectory. On the contrary, the compactness of the PIC is anticipated to hinder the growth of the market in the foreseeable future. The market study indicates that various developments and innovations in the field of photonics and fiber optics have recently boosed the market. moreover, the testing phase of 5G technology is also expected to boost the photonic integrated circuit market. also, PIC has a high demand in quantum computing and optical fiber sensing applcations. It is alos witnessed that the photonic integrated circuits provide the end-users with less energy consumption, and smaller and faster products. The companies operating in the photonic integrated circuit market focus on research and development to make efficient, eco-friendly products. However, the biggest disadvantage of usinfg PIC is their compactness. As the size of PICs gets reduced, its operational performance also degrades.
Photonic Integrated Circuit Market Competitive Dashboard:
The major players of the photonic integrated circuit market are Aifotec AG (Germany), Agilent Technologies, Inc. (US), Alcatel-Lucent SA (France), Ciena Corporation (US), Broadcom Inc. (US), CyOptics Inc. (US), Enablence Technologies Inc. (Canada), EMCORE Corporation (US), Finisar Corporation (US), Infinera Corporation (US), Hewlett-Packard Company (US), Intel Corporation (US), Kaiam Corporation (US), JDS Uniphase Corporation (US), and Mellanox Technologies Ltd (US). Other participants that constitute 30 to 35% of the market share analysis include Luxtera Inc. (US), Oclaro Inc. (US), NeoPhotonics Corp (US), OneChip Photonics Inc. (US), and TE Connectivity (Switzerland).
Photonic Integrated Circuit Market: Industry News
In March 2019, MACOM and GlobalFoundries (GF), the major players in the semiconductor industry, have joined forces to ramp the production of photonic integrated circuits (PICs). The aim is to accelerate applications in hyperscale data centers and 5G networks.
In February 2019, Optoscribe, which supplies 3D glass-based integrated photonics components, has announced the formation of strategic cooperation with Sumitomo Electric Industries, a producer & supplier of optical fiber cable and component manufacturing technology, for providing multicore fiber (MCF) components for telecom and datacom applications.
Photonic Integrated Circuit Market Segmentation:
By integration type, the global photonic integrated circuit market has been segmented into hybrid, monolithic, and module.
By component, the photonic integrated circuit market has been segmented into lasers, modulators, photo detectors, attenuators, and optical amplifiers.
By application, the global photonic integrated circuit market has been segmented into optical fiber communication, optical fiber sensor, biomedical, quantum computing, and others.
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Photonic Integrated Circuit Market Regional Analysis:
The global photonic integrated circuit market, by region, has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America is expected to exhibit rapid developments which are poised to help the regional market to retain the pole position over the forecast period. The U.S. and Canada are anticipated to drive the expansion of the photonic integrated circuit market in the upcoming years. Europe is likely to demonstrate a similar growth pattern and trial closely the market in North America in terms of value. Asia Pacific is also prognosticated to grow significantly over the next couple of years. It is presumed to thrive at a relatively higher CAGR in the years to come. Japan, China, and South Korea are projected to contribute substantially to the development of the regional market.
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