Press release
Photonic Integrated Circuit Market Size, Industry Growth, Trends and Report Analysis 2023-2028
Photonic Integrated Circuit Market
A photonic integrated circuit (PIC) is a compact device that consolidates multiple photonic functions, including light generation, manipulation, and detection, onto a single chip. Crafted from materials like indium phosphide, silicon, and silica, it operates across diverse optical wavelength ranges. Thanks to the swift movement of photons, it boasts minimal signal latency, facilitating high-speed data communication. Compared to electronic circuits, it offers cost savings and occupies less physical space due to the amalgamation of various optical components. Furthermore, it exhibits resilience to electromagnetic interference and bolsters energy efficiency by minimizing power dissipation. Capitalizing on the inherent properties of optical signals, it ensures secure data transmission. This technology finds integration in LiDAR systems for autonomous driving applications and plays a pivotal role in enhancing data transmission capabilities within fiber-optic communication systems. Beyond this, it finds utility in medical imaging and a range of sensing applications, including environmental monitoring.
How Big Is the Photonic Integrated Circuit Market?
The global photonic integrated circuit market size reached US$ 9.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 30.4 Billion by 2028, exhibiting a growth rate (CAGR) of 19.6% during 2023-2028.
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Photonic Integrated Circuit Market Trends and Drivers:
The global expansion of telecommunications networks, including the widespread deployment of 5G technology, is a primary driving force behind the growing demand for advanced optical components such as PICs, which are essential for supporting high-speed communications. Furthermore, the increasing consumption of data, particularly in the realms of cloud computing and internet services, is fueling the need for enhanced data processing and transmission capabilities, thereby positively impacting the market. In addition to this, the surging sales of autonomous passenger and commercial vehicles are leading to an increased requirement for advanced sensors like LiDAR, further contributing to market growth. Moreover, the rapid pace of urbanization and industrialization, coupled with the growing adoption of industrial automation, is driving the demand for high-speed control systems and efficient data transfer solutions. Furthermore, PICs find extensive use in satellite communication and various aerospace applications, bolstering the market's favorable outlook. Continuous advancements in design and fabrication technology are making PICs more accessible and versatile, thereby strengthening their market presence. Additionally, the rising reliance of consumers on smartphones, laptops, personal computers (PCs), and other household appliances, along with the escalating demand for high-speed data transfer in consumer electronics, is driving the need for PICs. The development of smart homes and smart cities worldwide is creating a positive market landscape, as these environments require advanced communication infrastructure integrated with PIC technology for seamless communication. Moreover, strategic collaborations between industries and educational institutions are fostering innovation and promoting photonics education. Leading market players are increasingly investing in research and development (R&D) activities within the photonics field to drive breakthroughs in PIC technology. Additionally, government authorities in various countries are taking initiatives, such as offering incentives and implementing regulations to encourage the adoption of advanced technologies, further augmenting market growth.
What Is Included In Market Segmentation?
The report has been segmented the market into following categories:
Breakup by Component:
• Lasers
• MUX/DEMUX
• Optical Amplifiers
• Modulators
• Attenuators
• Detectors
Breakup by Raw Material:
• Indium Phosphide (InP)
• Gallium Arsenide (GaAs)
• Lithium Niobate (LiNbO3)
• Silicon
• Silica-on-Silicon
Breakup by Integration:
• Monolithic Integration
• Hybrid Integration
• Module Integration
Breakup by Application:
• Optical Fiber Communication
• Optical Fiber Sensor
• Biomedical
• Quantum Computing
Breakup by Region:
• North America
o United States
o Canada
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Others
• Latin America
o Brazil
o Mexico
o Others
• Middle East and Africa
The report provides a comprehensive analysis of the industry key players listed below:
Broadcom Inc., ColorChip Ltd., Hamamatsu Photonics K.K., II-VI Incorporated, Infinera Corporation, Intel Corporation, LioniX International, POET Technologies and VLC Photonics S.L. (Hitachi Ltd.).
Ask Analyst for 10% free customized report: https://www.imarcgroup.com/request?type=report&id=5809&flag=C
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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