Global Photonic Integrated Circuits (PIC) Market was valued US$ XX Mn in 2018 and is expected to reach US$ XX Mn by 2026, at a CAGR of around XX % during a forecast period.
Proliferation of information and communication technology, reduction of telecommunication and network devices, and increasing demand for high bandwidth transmitting devices are major factors driving growth of global photonic integrated circuit market. Furthermore, increasing adoption of photonic integrated circuits in optoelectronic devices, on account of low energy consumption, higher efficiency, and higher operational speed, is another factor anticipated to boost growth of the global market to a significant extent throughout the forecast period. Also, rising adoption of optical fiber technology has further boosted demand for photonic integrated circuits in the global market.
Lack of processing and fabrication standards is a key factor hindering growth of global photonic integrated circuit market. Additionally, lack of digitalization in some emerging and underdeveloped countries is another factor restraining growth of the global market to a certain extent currently. Increasing data volumes has led rising demand for data centers, this factor is anticipated to create lucrative business opportunities for major manufactures in global market during the forecast period.
By raw material, the indium phosphide segment accounts for maximum revenue share in the global market and is anticipated to witness significant growth in the global market throughout the forecast period.
Geographically, North America market accounts for significant revenue share in global photonic integrated circuit market and is anticipated witness substantial growth in the global market throughout the forecast period. Presence of advance IT and telecommunication infrastructure coupled with early adoption of advance technologies are major factors driving growth of the North America photonic integrated circuit market. The Europe photonic integrated circuit market is anticipated to witness significant revenue growth and is anticipated to register a CAGR of XX% over the forecast period.
The Asia Pacific photonic integrated circuit market is projected to witness highest growth in terms of revenue in the global market throughout the forecast period. Presence of major electronics component manufacturers coupled with rapid development in telecom infrastructure in countries of this region are major factors driving growth of Asia Pacific photonic integrated circuit market.
Exhaustive primary and secondary research has been led to learn about the key market trends, competitive landscape, the impact of restraints, and growth prospects in photonic integrated circuits market. Market share of service providers has been evaluated on the basis of product, service, and solution using secondary research. This data was further cross-validated through primary interactions. End-use industry area survey has been performed to analyze the demand trends and revenue generated from each industry. Regional economic growth has also been considered while devising the report on the photonic integrated circuits market.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global photonic integrated circuits (PIC) market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global photonic integrated circuits (PIC) market.
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Scope of Global Photonic Integrated Circuits (PIC) Market
Global Photonic Integrated Circuits (PIC) Market, By Integration
• Monolithic Integration
• Hybrid Integration
• Module Integration
Global Photonic Integrated Circuits (PIC) Market, By Raw Material
• Gallium Arsenide
• Indium Phosphide
• Silica On Silicon
• Silicon On Insulator
• Lithium Niobate
Global Photonic Integrated Circuits (PIC) Market, By Application
• Optical Fiber Communication
• Optical Fiber Sensors
• Quantum Computing
Global Photonic Integrated Circuits (PIC) Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating in Global Photonic Integrated Circuits (PIC) Market
• Infinera Corporation
• NeoPhotonics Corporation
• Huawei Technologies Co., Ltd.
• OneChip Photonics
• Finisar Corporation
• Intel Corporation
• Broadcom Inc.
• Luxtera, Inc.
• Oclaro Inc.
• VIAVI Solutions Inc.
• Ciena Corporation
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