Photonic Integrated Circuits Market Industry Analysis by 2022

Today photonic integration is emerging as a new standard for providing cost effective and high-performance miniaturized and optical systems for a wide range of applications. The use of photonic integrated circuits (PICs) enables system designers and manufacturers to unite various optical devices such as modulators, optical amplifiers, lasers, and multiplexers into a single package, thereby making the overall system compact and reduce its cost.

As cost is a supremely important factor for both manufacturers and end users, this demand for photonic integrated circuits is expected to see a heightened rise over the coming years.

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The photonic integrated circuits market is still in its nascent stage and thus, with growing prospects in the future, the number of players in the market is likely to increase and this will result in a high level of threat from new entrants in the coming years.

Chip manufacturers all over the world are striving to enhance power efficiency by reducing power consumption and to achieve this, the use of PICs in the circuitry. PICs are increasingly being preferred over optical fiber communication systems.

Owing to their benefits such as low power consumption, superior flexibility, and low latency, the application areas of photonic integrated circuits are expected to increase in the future and lead to a stupendous expansion of 25.3% CAGR between 2015 and 2022. In terms of revenue, the global PIC market is expected to rise from US$227.9 mn in 2014 to US$1,338.0 mn by 2022.

On the basis of geography, the global photonic integrated circuits market is expected to be led by North America, and is estimated to reach US$505.8 mn by 2022. The North America market is expected to be driven by factors such as increasing demand for wireless and fixed network devices, which enable users to access information and communicate at high speed data rates anywhere and anytime.

PIC manufacturers in North America are investing heavily in research and development activities, which is another reason why the market is likely to grow in the region. However, Asia Pacific is estimated to expand at the most significant CAGR during the forecast period. Asia Pacific is expected to expand at a 26.5% CAGR between 2015 and 2022.

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In terms of application, the optical communication segment not only led in the past but will continue to do so through 2022. The market for optical communication is expected to reach US$777.2 mn by 2022.

However, the optical signal processing segment is estimated to expand at the maximum CAGR of 26.4% from 2015 to 2022. By integration type, the market is expected to be led by hybrid integration and the market is expected to be worth US$743.8 mn by 2022.

On the other hand, the monolithic integration segment will expand at a 26.5% CAGR from 2015 to 2022. In terms of raw materials, the market is likely to be led by indium phosphide segment. This segment is expected to be worth US$470 mn by 2022.

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