IMARC Group’s report titled “Photonic Integrated Circuit Market Report by Component (Lasers, MUX/DEMUX, Optical Amplifiers, Modulators, Attenuators, Detectors), Raw Material (Indium Phosphide (InP), Gallium Arsenide (GaAs), Lithium Niobate (LiNbO3), Silicon, Silica-on-Silicon), Integration (Monolithic Integration, Hybrid Integration, Module Integration), Application (Optical Fiber Communication, Optical Fiber Sensor, Biomedical, Quantum Computing), and Region 2024-2032“. The global photonic integrated circuit market size reached US$ 11.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 51.5 Billion by 2032, exhibiting a growth rate (CAGR) of 17.67% during 2024-2032.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/photonic-integrated-circuit-market/requestsample
Factors Affecting the Growth of the Photonic Integrated Circuit Industry:
- Increasing Demand for High-Speed Data Transmission:
With the proliferation of data-intensive applications and services, such as high-definition (HD) video streaming, online gaming, and cloud computing, there is a need for higher bandwidth. Conventional electronic circuits have limitations in terms of data transmission speed, making them inadequate for addressing the ever-increasing bandwidth requirements. Photonic integrated circuits (PICs) leverage the properties of light to transmit data at much higher speeds, making them a crucial solution for meeting the growing demand. Data centers are the backbone of modern digital infrastructure, as they store, process, and transmit vast amounts of data. PICs enable data centers to achieve faster interconnects and reduce latency, contributing to their scalability and performance.
- Advancements in Photonics Technology:
Photonics research is leading to the discovery and development of advanced materials with unique optical properties. These materials can be integrated into PICs to enhance their performance. In addition, the use of novel materials like silicon photonics is enabling the creation of more efficient and compact PICs, increasing their attractiveness to various industries. Advancements in fabrication techniques, such as lithography and etching processes, are bolstering the growth of the market. These techniques allow for precise and miniaturized manufacturing of PICs, resulting in higher integration levels and improved functionality.
- Energy Efficiency and Reduced Power Consumption:
PICs, which use photons for data transmission, are inherently more energy efficient as compared to traditional electronic circuits. By incorporating PICs into data center infrastructure, companies can significantly reduce the power consumption of data transmission and processing, leading to substantial energy cost savings. Electronic circuits generate heat as a byproduct of their operation, necessitating cooling systems that consume additional energy. PICs generate minimal heat since they rely on optical signals instead of electric currents. This reduces the cooling requirements in data centers and other applications, further contributing to energy efficiency.
Leading Companies Operating in the Global Photonic Integrated Circuit Industry:
- Broadcom Inc.
- ColorChip Ltd.
- Hamamatsu Photonics K.K.
- II-VI Incorporated
- Infinera Corporation
- Intel Corporation
- LioniX International
- POET Technologies
- VLC Photonics S.L. (Hitachi Ltd.)
Photonic Integrated Circuit Market Report Segmentation:
By Component:
- Lasers
- MUX/DEMUX
- Optical Amplifiers
- Modulators
- Attenuators
- Detectors
Lasers represented the largest segment as they are a fundamental component in many PICs.
By Raw Material:
- Indium Phosphide (InP)
- Gallium Arsenide (GaAs)
- Lithium Niobate (LiNbO3)
- Silicon
- Silica-on-Silicon
Indium phosphide (InP) accounted for the largest market share due to its excellent optical properties.
By Integration:
- Monolithic Integration
- Hybrid Integration
- Module Integration
Monolithic Integration exhibits a clear dominance in the market as it offers the advantage of integrating all optical components on a single chip.
By Application:
- Optical Fiber Communication
- Optical Fiber Sensor
- Biomedical
- Quantum Computing
Optical fiber communication holds the biggest market share on account of its well-established and critical application for PICs.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
North America enjoys the leading position in the photonic integrated circuit market due to strong presence of tech companies.
Global Photonic Integrated Circuit Market Trends:
The increasing demand for data storage and processing is leading to the rapid expansion of data centers. PICs are being extensively used in data centers to improve energy efficiency, reduce latency, and enhance data transmission speeds.
The deployment of 5G networks is driving the adoption of PICs in the telecommunication sector. PICs play a crucial role in enabling high-speed, low-latency data transmission for 5G infrastructure.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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.
IMARCs 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.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Contact US:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: [email protected]
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163