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Steady Expansion Forecast for Photonic Integrated Circuit Market, Projected to Reach $34.48 Billion by 2029
Photonic Integrated Circuit Market
Photonic Integrated Circuit Market Size Growth Forecast: What to Expect by 2025?
In the past few years, there has been a substantial expansion in the market size of the photonic integrated circuit. The projections indicate that the market is set to increase from $12.40 billion in 2024 to $15.25 billion in 2025, representing a compound annual growth rate (CAGR) of 23.0%. The significant growth observed during the historic period can be credited to a number of factors including the rising miniaturization of both electronic and photonic apparatus, the escalating demand for compact yet scalable communication systems, the urgent need for data transfer with reduced latency, the growing popularity of IoT and interconnected devices, and the increased application of data-intensive systems.
How Will the Photonic Integrated Circuit Market Size Evolve and Grow by 2029?
Over the coming years, the market size of the photonic integrated circuit is anticipated to surge significantly, reaching an estimated $34.48 billion in 2029. This represents a compound annual growth rate (CAGR) of 22.6%. Factors contributing to this projected growth include the escalating demand for high-bandwidth communication, increased application of fiber optic technology, global internet penetration growth, the burgeoning usage of photonics in the telecommunication sector, and the growing requirement for rapid data transfer within corporate networks. Key trends expected over this forecast period involve advancements in next-generation transceivers, progressing indium phosphide photodiodes, innovations in silicon photonics platforms, the fusion of photonic components with electronic circuits, and improvements in coherent optical modules.
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What Drivers Are Propelling the Growth of Photonic Integrated Circuit Market Forward?
The market growth is being propelled by an increasing necessity for high-speed internet, owing to the proliferation of data-intensive applications.
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What Trends Will Shape the Photonic Integrated Circuit Market Through 2029 and Beyond?
Key players in the photonic integrated circuit market, such as Keysight Technologies Inc., are investing their efforts in creating pioneering solutions like photonic integrated circuits to facilitate more efficient and swift data transmission, as well as upgraded optical communication systems. Photonic integrated circuit is a device that amalgamates several photonic functions, including lasers, modulators, and detectors, into one chip, allowing for the manipulation and transmission of light signals to be used in high-speed optical communication and sensing applications. In March 2025, the US-based manufacturing firm, Keysight Technologies Inc., introduced a Photonic Designer, a definitive tool for designing and simulating photonic integrated circuits. This tool simplifies the photonic circuit design process through precise physics-based simulations and incorporates real-world data, leading to more dependable and faster design to manufacturing workflows. By ensuring design compliance and optimizing models for seamless fabrication, this ultimately reduces development time and lowers risk.
What Are the Key Segments in the Photonic Integrated Circuit Market?
The photonic integrated circuit market covered in this report is segmented
1) By Component: Lasers, Modulators, Detectors, Multiplexers Or De-Multiplexers, Attenuators, Other Components
2) By Integration Type: Hybrid, Monolithic
3) By Material: Indium Phosphide (Inp), Silicon-On-Insulator (Soi), Silicon Photonics, Gallium Arsenide (Gaas), Lithium Niobate, Other Materials
4) By Application: Optical Communication, Sensing, Biophotonics, Optical Signal Processing, Quantum Computing, Other Applications
5) By End Use: Telecommunications, Data Centers, Consumer Electronics, Healthcare And Life Sciences, Defense And Aerospace, Industrial, Automotive, Other End-Users
Subsegments:
1) By Lasers: Distributed Feedback (DFB) Lasers, Distributed Bragg Reflector (DBR) Lasers, Fabry-Perot Lasers
2) By Modulators: Electro-Optic Modulators,Mach-Zehnder Modulators (MZM), Electro-Absorption Modulators (EAM)
3) By Detectors: PIN Photodiodes, Avalanche Photodiodes (APD), Germanium Photodetectors
4) By Multiplexers Or De-Multiplexers: Arrayed Waveguide Gratings (AWG), Planar Lightwave Circuits (PLC), Echelle Gratings
5) By Attenuators: Variable Optical Attenuators (VOA), Fixed Optical Attenuators, Micro-Electro-Mechanical Systems-Based Attenuators
6) By Other Components: Optical Amplifiers (SOA, EDFA), Waveguides, Couplers Or Splitters
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Who Are the Key Players Shaping the Photonic Integrated Circuit Market's Competitive Landscape?
Major companies operating in the photonic integrated circuit market are Huawei Technologies Co. Ltd., Intel Corporation, IBM Corporation, Cisco Systems Inc., Fujitsu Limited, Nokia Corporation, Ciena Corporation, Coherent Corp., Ansys Inc., Lumentum Holdings Inc., Viavi Solutions Inc., Source Photonics Inc., POET Technologies Inc., Acacia Communications Inc., EFFECT Photonics B.V., Lightmatter Inc., ColorChip Ltd., LIGENTEC SA, AEPONYX Inc., Analog Photonics LLC, Bright Photonics BV, Dream Photonics Inc.
What Geographic Markets Are Powering Growth in the Photonic Integrated Circuit Market?
North America was the largest region in the photonic integrated circuit market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in photonic integrated circuit report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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