TMR Projects Strong Growth for Photonic Integrated Circuits Market With a 23.0% CAGR, Thanks to Rising Demand from Telecommunications

• Rising demand for communications system in telecom sector will likely drive robust valuation of US$3.3 bn by 2027 for the Photonic integrated circuits market
• Global manufacturers of photonic integrated circuits are focussing on power efficiency of PICs, and use of silicon photonic technology remains on the rise. The technology has proven effective for enhancement of millimetre wave communication system

ALBANY, New York, March 3, 2020 /PRNewswire/ -- Optics and photonics continue to make way for modernisation in electronic devices. The development of fiber optics has remained a key driver of growth in the development of this technology. Additionally, the fiber optics continues to make way for more speed, capacity, and accuracy for PICs with new solutions. TMR study promises to key insights in the penetration and advancements in the fiber optics in PICs.

According to TMR analysts, "The demand from indium phosphide-based PICs continues to grow, and is a prominent development on the radar for large players operating the in the PIC market. Additionally, the key opportunity for players in the Photonic Integrated Circuits (ICs) Market lies in the development of autonomous vehicle, which continue to promise robust research, and development opportunities. Being a first-mover in the next-gen automobile sector will be a key advantage for players in the Photonic Integrated Circuits market."

Key Findings in the Photonic Integrated Circuits Market Study:

• Booming demand for larger bandwidth, and strong adoption of cloud services by SMEs continues to pave way for a larger ecosystem of datacentres. Additionally, over a billion smartphone were sold in 2016 globally. This has driven demand for high-speed connectivity, and more efficient data storage solutions in turn. The players in the Photonic Integrated Circuits (ICs) Market will find strong demand for improvements in bandwidth, speed, and flexibility to build better bridges between the gates of communication, and visitors.
• In high-end applications like 3D sensing, materials like silicon are increasingly being replaced with Indium Phosphide (InP)-based PICs. The material is also finding prominence in applications like laser signals, and signal conversion in electronic form. The growth of 3D sensing, and its growing use in industrial manufacturing will be a key driver of growth for InP-based PICs during the forecast period.
• The LIDAR sensing systems in autonomous vehicles will pave way for strong growth for players in the PIC market. The system relies on continuous, seamless, and reliable information flow for the operation of autonomous driving. The essential need for autonomous vehicles to monitor surrounding environments at all times, will be a major factor for growth for PIC advancements in the next-gen automobiles. The optical fibers promise an ideal application for LIDAR systems as these are immune to electromagnetic interference, and can handle seamless information flow of high volumes. The development in this area from players in the Photonic Integrated Circuits (ICs) market continues to focus on miniaturized versions of PIC, catering to a strong demand from the automobile industry.

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Explore a report with detailed research, incisive insights, and in-depth country levels estimations. Gain business intelligence on Photonic Integrated Circuits (PIC) Market (Integration Type: Monolithic Integration, Hybrid Integration, and Module Integration; Raw Material: Indium Phosphide, Gallium Arsenide, Lithium Niobate, Silicon, Silicon-on-Insulator, and Others; Component: Lasers, Modulators, Detectors, Attenuators, Multiplexers/De-multiplexers, and Optical Amplifiers; and Application: Optical Communication, Sensing, Optical Signal Processing, and Biophotonics) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027

Photonic Integrated Circuits Market: Region-wise Analysis

Rising demand for WAN applications promise a major growth in the North America region. the rising demand for communications, and heavy investments in the development of portable, and reliable sensor pave way for lucrative opportunities in the region, namely in the US. The rising demand for mobile communication, and growing reliance on entertainment through videos, and enterprise-based cloud services will be major avenues for growth in the PIC market in North America region. The region continues to witness opportune collaborations among competitors, thanks to large potential of growth, and rising demand for data services.

Photonic Integrated Circuits market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study.

Competitive Analysis:

The global photonic integrated circuits market is a competitive, and fragmented landscape. The landscape is home to several large, and established players who continue to demonstrate strong manufacturing capabilities. The competition will likely rise further in the future, as research and development activities continue to make a strong case for growth in communication, network, and information technology. Large number of suppliers in the PIC market have also witnessed reduction in their bargaining power, with an increased advantage for manufacturers. The growing demand for PICs during the forecast period, will likely provide more bargaining power to suppliers over the forecast period.

Integration Type

• Monolithic Integration
• Hybrid Integration
• Module Integration

Raw Material

• Indium Phosphide
• Gallium Arsenide
• Lithium Niobate
• Silicon
• Silicon-on-Insulator
• Others

Component

• Lasers
• Modulators
• Detectors
• Attenuators
• Multiplexers/De-Multiplexers
• Optical Amplifiers

Application

• Optical Communication
• Sensing
• Optical Signal Processing
• Biophotonics

Region

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America

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