Press release
Photonic Integrated Circuits (ICs) Market - Nearly Half of all Global Revenues to be Generated by North America till 2022
On the flip side, the low level of digitization across the world may limit the application of photonic ICs significantly in the near future. The complex designs of these ICs are also anticipated to hamper their demand in the years to come.
The global photonic ICs market is expected to rise at an exponential CAGR of 25.30% during the period from 2015 to 2022, increasing from US$0.2 bn in 2014 to an estimated value of US$1.3 bn by 2022. The market is projected to gain significant impetus from the emergence of photonic integration in the years to come.
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North America to Generate Nearly Half of all Global Revenues in Photonic ICs Market by 2022
The market for photonic ICs can be segmented into Asia Pacific, Europe, North America, and the Rest of the World, which includes Latin America, and the Middle East and Africa. North America emerged the leader in 2014 with a share of 38.9% in the overall revenue generated in this market.
Analysts expect the region to remain leading over the coming years due to the rising penetration of photonic products in the field of fiber optic communication, particularly data center applications and wireless access networks. Asia Pacific, however, is expected to present most attractive growth prospects for photonic ICs on account of the immense rise in the field of biophotonics.
The revenue generated by photonic ICs in North America is likely to notch the US$505.8-mn mark by 2022. The Asia Pacific market for photonic ICs, on the other hand, is expected to expand at a CAGR of 26.50% between 2015 and 2022.
Optical Communication Sector to Remain Key Consumer of Photonic ICs
Photonic ICs find widespread application in optical communication, optical signal processing, sensing, biophotonics, and optical signal processing. Among these, optical communication surfaced as the key consumer of these integrated circuits in 2014 with a share of more than 58% in the overall revenue generated in this market. The segment is expected to remain the key application area for photonic ICs in the near future due to their increasing demand in data centers.
Other segments are also anticipated to register a steady rise in the demand for photonic ICs over the years to come. The opportunity for photonic ICs in optical communication is estimated to increase to US$777.2 mn by 2022.
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The global market for photonic ICs is led by Huawei Technologies Co. Ltd., Infinera Corp., Ciena Corp., and Alcatel-Lucent S.A. Kaiam Corp., Agilent Technologies, Enablence Technologies Inc., TE Connectivity Ltd., HP, Oclaro Inc., Intel Corp., Aifotec AG, Avago Technologies, NeoPhotonics Corp., JDS Uniphase Corp., Finisar Corp., Luxtera Inc., and Mellanox Technologies Ltd. are other major participants in this market.
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