Photonic Integrated Circuit (IC) Market Is Estimated to Attain Around $3.54 Billion By 2024
by sarawhite593 · June 21
Myles Garrett Shirt , 2019
San Francisco, 21 June 2019 ????hotonic Integrated Circuit (IC) Market Analysis By Component (Lasers, MUXDEMUX, Optical Amplifiers, Modulators,
Attenuators, and Detectors), Integration (Monolithic
Nick Chubb Shirt , Hybrid, and Module), Raw Material (Indium Phosphide, Silica-on-Silicon, Silicon, Gallium Arsenide, and Others), Application (Optical
Communication
Denzel Ward Shirt , Sensing, Biophotonics, and Optical Signal Processing) And Segment Forecasts To 2024??p>
l processing, optical communication, biophotonics, and sensing
applications. The growing demand for sensing and optical devices are expected to
fuel the growth of the photonic IC market.
There is an increasing need for cost effective, power efficient, and compact PICs which would further propel the photonic IC market over the forecast period
across the mobile broadband Internet access, high-performance
computing Austin Seibert Shirt , datacenter, and enterprise networking, along with metro and long haul data communications, among many others. The increasing adoption of the
high-level integrated PICs and application-specific PICs would boost the
photonic IC market to strive for greater functionality and new product
development across a number of verticals.
The photonic IC market is anticipated to grow substantially due to the continuous technological advancements and the evolving end-user demands. The
laser, optical amplifier, and MUXDEMUX component segments possess enormous
growing opportunities, owing to the ability of photonic ICs to incorporate new
optical functionalities that can be embedded on a single chip to achieve high
efficiency and compactness.
Global photonic IC market, 2014 – 2024 (USD Billion)
The increasing demand for the optical communication and sensing applications is driving the growth of photonic ICs around the globe with an efficient
management of datacenters and long haul networks providing a thriving market for
them. Moreover Sheldrick Redwine Shirt , with the advancements in quantum computing, the adoption of photonic ICs are increasing as they allow multitasking that quantum computing
readily requires. Also, the growing adoption of the biophotonic application in
medical devices also holds considerable growth opportunities for the photonic
ICs market. On the other hand, the high bandwidth and optimum performance
requirements of the telecommunication industry, data storage, cloud service
providers, and large business enterprises are expected to boost the optical
communication and signal processing segments. This market will create many new
opportunities culminating in an increased adoption of photonic ICs over the
forecasted period.
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[u]Further key findings from the report suggest:[/u]
[u][u]There is a growing need for higher bandwidth and greater transmission speeds across the Information and Technology (IT) industry.
Photonic ICs can be incorporated into the existing products to fulfill this
demand in diverse industry verticals to transmit Sione Takitaki Shirt , receive, and switch high-speed digital signals in communication networks. Progressive research and developments are being made
towards the low-cost, high-performance optics to help lower the cost of the
high-speed Internet access and boost the efficiency of the telecommunication
networks The growing shift towards quantum computing and machine learning, among
others, requires enormous parallel computing capabilities. The optical quantum
computers can perform much faster than the traditional computers in terms of
multitasking, higher level of integration, and efficiency while consuming lower
power. This will open new avenues for photonic IC-based computing services
across a wide range of verticals. Broadcom Limited (U.S.), Viavi
Solutions Greedy Williams Shirt , Inc. (U.S.), and NeoPhotonics Corporation (U.S.) are some of the major industry players in this domain. Other key vendors include Oclaro,
Inc., Kaiam Corp, Luxtera Inc., Infinera Corp., Finisar Corporation, Ciena
Corporation Joe Thomas Jersey , and Emcore Corporation, among others. View more reports of this category by Grand View Research at
Grand View Research has segmented the global photonic integrated circuit (IC) market on the basis of product,
application and region:
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