Miniaturization of Electronic Devices Drives Photonic Integrated Circuit Market

The market is being driven by the significant demand for such components from the telecommunications, medicinal, and data center facilities, as well as the growing popularity of autonomous cars, rapid automation in a variety of industries, and downsizing of electronic equipment. The photonic integrated circuit market is set to hit $41,037.7 million value by 2030.

With a CAGR of 20.9% in the upcoming years, the application segment's data centers category is anticipated to increase at the fastest rate. This is because of the introduction of 5G mobile networks, video streaming, and cloud connectivity services, which have been propelling the vast global construction of data centers.

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Monolithic has a bigger share in the photonic integrated circuit market, based on the integration method. This is because photonic ICs are integrated using a single material in a range of both passive and active optical devices, eliminating the problems associated with adapting between different materials.

Furthermore, the commercialization of this method and the implementation of several monolithic photonics platforms in improved CMOS technologies for next-generation integrated systems are predicted to grow the potential for monolithic integration.

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One of the main photonic integrated circuit market drivers is the rapid improvements in photonics IC technology as well as the numerous integration techniques. For example, in October 2021, scientists at the Hong Kong University of Science and Technology developed a monolithic InP on a silicon-on-insulator (SOI) substrate that would pave the way for completely integrated Si-based photonic integrated circuits.

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This release was published on openPR.