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Global Photonic Integrated Circuit (IC) Market: Growth, Trends, and Key Developments from 2023 to 2031

05-29-2024 08:08 AM CET | IT, New Media & Software

Press release from: DataM Intelligence 4market Research LLP

global photonic integrated circuit (IC) market, valued at US$ 3.2 billion in 2023, is projected to soar to US$ 31.7 billion by 203

global photonic integrated circuit (IC) market, valued at US$ 3.2 billion in 2023, is projected to soar to US$ 31.7 billion by 203

Market Overview

The global photonic integrated circuit (IC) market, valued at US$ 3.2 billion in 2023, is projected to soar to US$ 31.7 billion by 2031, exhibiting a robust compound annual growth rate (CAGR) of 33.2% from 2024 to 2031. This rapid expansion is primarily driven by the escalating demand for high-speed data transport and communication systems, which are vital for applications in data centers, 5G networks, telecommunications, and high-performance computing. Photonic ICs, leveraging optical signals for data transmission, are instrumental in meeting the ever-increasing need for bandwidth to support data-intensive applications.

The launch of innovative products by key industry players is a significant factor fueling market growth. For instance, Freedom Photonics introduced 2.5-watt diffraction-limited 1550 nm semiconductor lasers and amplifiers on September 28, 2021, showcasing advancements in optical power and efficiency.

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Market Dynamics

Increasing Demand for High-Speed Data Communication and Internet Connectivity

The surge in internet traffic is compelling data center operators to expand their infrastructure to accommodate digital applications such as social networking, cloud computing, streaming video, e-commerce, and online services. Silicon photonics technology facilitates high-speed optical interconnects, switches, and transceivers, ensuring efficient data transfer within and between data center buildings. The growing adoption of cloud computing services is further propelling the demand for scalable and high-performance data communication solutions.

The proliferation of mobile internet usage, with over 60% of global website traffic originating from mobile devices, and the rapid adoption of 5G networks, which are expected to reach over 1 billion connections by 2025, are also major drivers of the photonic IC market.

Segment Analysis
The global photonic IC market is segmented by component, raw material, integration, application, end-user, and region. Among these, the biophotonics application segment is poised to capture the largest market share, driven by advancements in nanotechnology and supportive government initiatives.

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Geographical Insights

North America: A Dominant Market
North America leads the global photonic IC market, underpinned by a strong ecosystem of universities, research centers, and collaborative efforts between industry and academia. This region benefits from significant investments and technological innovations. For example, Enosemi's commercial agreement with Luminous Computing on October 16, 2022, to license and sell silicon photonics design IP, underscores the region's focus on advancing photonic technologies.

Competitive Landscape
Key players in the market include Intel Corporation, Cisco Systems, Inc., Infinera Corporation, Polariton Technologies AG, and Lumentum Holdings Inc., among others. These companies are actively engaged in product launches, strategic collaborations, and research and development initiatives to strengthen their market positions.

Recent Developments
December 14, 2022: OpenLight introduced the first 800G DR8 Photonic Integrated Circuit Design for the global datacenter interconnect industry.
October 02, 2023: DustPhotonics launched the industry's first merchant 800G silicon photonics chip, designed for hyperscale data centers and AI applications.
October 20, 2023: The Indian Institute of Technology Madras, in collaboration with the Ministry of Electronics & Information Technology, launched the Centre of Excellence for Silicon Photonics.

Market Segmentation
By Component: Optical Laser, Modulator, Detector, Transceivers, Attenuators, Others
By Raw Material: Lithium Niobate, Indium Phosphide, Silica-on-Silicon, Gallium Arsenide, Silicon, Quantum Dots, Silicon-on-Insulator, Others
By Integration: Hybrid, Monolithic, Module
By Application: Optical Communications, Sensing, Optical Signal Processing, Biophotonics
By End-User: Telecommunications, Biomedical, Data Centers, Others

Related Report:
https://www.datamintelligence.com/research-report/photonics-market
https://www.datamintelligence.com/research-report/biophotonics-market
https://www.datamintelligence.com/research-report/nanophotonics-market

Contact Us -
Company Name: DataM Intelligence
Contact Person: Sai Kiran
Email: Sai.k@datamintelligence.com
Phone: +1 877 441 4866

DataM Intelligence 4Market Research is a market intelligence platform that gives access to syndicated, customized reports and consulting to its clients in one place. As a firm with rich experience in research and consulting across multiple domains, we are a one-stop solution that will cater to the needs of clients in key business areas. DataM Intelligence has an online platform whose industries such as chemicals and materials, agriculture, health care services, animal feed, and food & beverages, among others. Our platform has Insights on markets that uncover the latest market research data that are distinct from the competition. With coverage across 10 major industries in the marketplace research, DataM Intelligence benefits thousands of companies by helping them take their innovations early to the market by providing a complete view of the market with statistical forecasts. Our strategy-centric framework and value-added services will let individuals and corporations ease access and custom personalization to research and markets.

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