Photonic Integration Circuit Market Analysis
The global Photonic Integrated Circuit Market is expected to exhibit a
strong 25.9% CAGR over the forecast period from 2018 to 2023, according to the
latest research report from Market Research Future (MRFR). The global photonic
integrated circuit market was valued at USD 385.5 million in 2017 and is expected
to rise to a valuation of close to USD 1.5 billion by 2023.
The report presents a detailed analysis of the
global photonic integrated circuit market’s historical growth trajectory in
order to illuminate the readers on how the market has progressed over the
historical review period. This database of historical information about the
photonic integrated circuit market is also used to make accurate forecasts
about the global photonic integrated circuit market’s likely growth trajectory
over the forecast period from 2018 to 2023.
Competitive Leaderboard:
Leading players in the global photonic integrated circuit
market include Mellanox Technologies Ltd., Kaiam Corporation, JDS Uniphase
Corporation, Intel Corporation, Infinera Corporation, Hewlett-Packard Company,
Finisar Corporation, Enablence Technologies Inc., EMCORE Corporation, CyOptics
Inc., Ciena Corporation, Broadcom Inc., Alcatel-Lucent SA, Aifotec AG, and
Agilent Technologies Inc.
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Photonic integrated circuits are a combination of
photonic sensors and other electronic components. They use photons (light) to
perform various optical functions. In a photonic integrated circuit, signals
are processed using a combination of visible and infrared radiation. Photonic
sensors are used in PICs to convert the light into an electric signal. Photonic
integrated circuits have become widely popular in various applications,
including nanoelectronics, LIDAR, calorimetry, and various silicon-based
technologies.
The growing use of photonic integrated circuits in
quantum computing is likely to be a major driver for the global photonic
integrated circuit market over the forecast period. Quantum computing has
become a must-have in various crucial applications in recent years due to its
higher processing speed and ability to multi-function easily. Developments in
quantum computing have also come on at a rapid rate in recent years due to the
significant investment made by major tech players in quantum computing. This
has increased the demand from the photonic integrated circuit market in recent
years and is likely to be a major driver for the global photonic integrated
circuit market over the forecast period.
The high speed and high bandwidth provided by
photonic integrated circuits have been the major drivers for the global
photonic integrated circuit market over recent years. Along with their high
speed and bandwidth, photonic integrated circuits also consume less energy than
conventional integrated circuits, making them doubly attractive to end users.
This is likely to remain the major driver for the global photonic integrated
circuit market over the forecast period.
Segmentation:
The global photonic integrated circuit market is
segmented on the basis of integration type, component, application, and region.
By integration type, the global photonic integrated
circuit market is segmented into hybrid, monolithic, and module.
By component, the global photonic integrated circuit
market is segmented into lasers, modulators, photo detectors, attenuators, and
optical amplifiers.
By application, the global photonic integrated
circuit market is segmented into optical fiber communication, optical fiber
sensor, biomedical, quantum computing, and others. The quantum computing
segment is likely to retain an important share in the global photonic
integrated circuit market over the forecast period. Optical fiber communication
is also likely to be an important application segment of the global photonic
integrated circuit market over the forecast period.
Regional Analysis:
North America leads the global photonic integrated
circuit market and is likely to remain in the leading position over the
forecast period. Advanced photonic integrated circuit technology is available
in the region, due to the growing presence of major market players in the
region.
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