According to a report recently published by Future Market Insights, the Photonic Integrated Circuit (PIC) Market revenues are expected to reach US$ 1.1 billion in 2021 and are expected to grow at a CAGR of 21.5% between 2022 and 2032. By the end of 2032, the market is anticipated to be worth $9.4 billion.
China has seen rapid growth in photonic integrated circuits (PICs) technology during the past ten years. With an absolute growth opportunity of US$ 710.5 million between 2022 and 2032, it is anticipated that the Chinese market would reach US$ 807,8 million.
Several material platforms and methods have been developed to build photonic integrated devices for a variety of applications focusing on broadband communication, such as optical and wireless networks, optical interconnects, and optical coherent communication.
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Silicon Photonic MEMS, offers outstanding potential for low-power and high-performance photonic devices and creates the framework for efficient integration in very large-scale photonic integrated circuits, as required in programmable and reconfigurable photonic integrated circuits.
These activities have contributed to the development of numerous scientific achievements and innovations, including silicon photonics transceivers, InP-based transceivers, and optical and microwave signal processing systems. Since PICs technology is regarded as one of the crucial enabling technologies for supporting numerous nationally significant projects and strategies, such as broadband communication, supercomputing, and data center, it is likely to be continuously supported over the coming years.
Key Takeaways from the Market Study
- Global Photonic Integrated Circuit Market is expected to reach a market size of US$ 1.3 Bn by 2022.
- The Hybrid Integration segment is expected to have the highest CAGR of 21.5% during the forecast period.
- United States is projected to remain the most dominant market with an absolute dollar growth opportunity of US$ 2.4 Bn during 2022 – 2032.
- The market in China is set to experience the highest CAGR of 23.6% during the 2022-2032 forecast period.
Competitive Landscape
- The market is fiercely competitive, where key players are increasingly focused to obtain a competitive advantage. The key companies in the Photonic Integrated Circuits (PIC) Market are focused on R&D to produce innovative technological solutions.
- In February 2022, Ayar Labs, a photonic chip provider with circuits that carry data between processors significantly faster than typical metal interconnects, announced a “multi-year strategic agreement” with Hewlett Packard Enterprise.
- In October 2020, Sanan IC, the world’s largest LED manufacturer announced that it has inked a US$ 50 Mn Joint Venture Agreement with POET Technologies. Super Photonics Xiamen Co., Ltd, the company’s subsidiary, has also applied for registration. This is expected to offer transceiver module makers, systems vendors, data center operators, and network providers throughout the world a new generation of cost-effective, high-performance optical engines.
- In May 2022, to increase reliability and performance across all operating scenarios, Cisco announced that it has combined new predictive technologies with its comprehensive portfolio of observability, visibility, and intelligence capabilities.
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Photonic Integrated Circuit (PIC) Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in Photonic Integrated Circuits (PIC) Market by Integration Type (Monolithic Integration, Hybrid Integration, Module Integration), By Application (Optical Communications, Sensing, Biophotonics, Optical Signal Processing), By Raw Materials (Indium Phosphide, Gallium Arsenide, Lithium Niobate, Silicon, Silica-on-Insulator, Others), By Components (Lasers, Modulators, Detectors, Attenuators, MUX/DEMUX, Optical Amplifiers) across regions (North America, Europe, Asia Pacific, and RoW).
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Market Segments Covered in Photonic Integrated Circuits (PIC) Market Analysis
By Integration Type:
- Monolithic Integration PIC
- Hybrid Integration PIC
- Module IntegrationPIC
By Application:
- Optical Communications
- Sensing
- Bio-photonics
- Optical Signal Processing
By Raw Materials:
- Indium Phosphide
- Gallium Arsenide
- Lithium Niobate
- Silicon
- Silica-on-Insulator
- Others
By Components:
- Lasers
- Modulators
- Detectors
- Attenuators
- MUX/DEMUX
- Optical Amplifiers
By Region:
- North America
- Europe
- Asia Pacific
- RoW
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About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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