New York, US, Aug. 30, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Photonic Integrated Circuit Market Analysis by Integration Type, Component, Application - Forecast till 2030” valuation is poised to reach USD 27.42 Billion by 2030, registering a 20.47% CAGR throughout the forecast period (2022–2030).
Photonic Integrated Circuit (PIC) Market Overview
The shift to photonic integrated circuits over traditional ICs will offer robust opportunities for the market over the forecast period. Photonic integrated circuits are less expensive than conventional ICs thanks to downsizing, smaller due to the consolidation of numerous parts and functionalities into a single chip, and more power-efficient.
Photonic IC Market Report Scope:
| Report Metric | Details |
| Revenue Forecast by 2030 | USD 27.42 Billion |
| Market Growth 2022-2030 | 20.47% CAGR |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
Get Free Sample PDF Brochure
https://www.marketresearchfuture.com/sample_request/7480
Drivers
Increasing Use in Industrial and Automotive Applications to Boost Market Growth
Due to their broad operating range and increased optical power, laser PICs are widely utilized in the automotive and industrial industries for marking, engraving, welding cutting, and drilling applications. This will boost market growth over the forecast period.
High Assembly Costs to act as Market Restraint
The high assembly costs and thermal effect issues may act as market restraints over the forecast period.
Lack of Skilled Technicians to act as Market Challenge
The lack of skilled technicians for operating the fabrication units and the need for high initial investments may act as market challenges over the forecast period.
Photonic Integrated Circuit Market Segments
The global photonic integrated circuit market is bifurcated based on application, component, and integration.
By integration, hybrid will lead the market over the forecast period.
By component, the photonic integrated circuit market is segmented into optical amplifiers, attenuators, photo detectors, modulators, and lasers.
By application, the photonic integrated circuit market is segmented into quantum computing, biomedical, optical fiber sensor, and optical fiber communication.
Browse In-depth Market Research Report (100 Pages) on Photonic Integrated Circuit Market:
https://www.marketresearchfuture.com/reports/photonic-integrated-circuit-market-7480
Photonic Integrated Circuit Market Regional Analysis
North America to Domineer Photonic Integrated Circuit Market
Due to the availability of a significant number of cutting-edge advances in circuits and sensors, North America holds a dominant market share for photonic integrated circuits. The market in this region is expanding as a result of rising need for high level of integration, substantial government investment, an increase in the number of data centers, expanding PIC benefits, and cutting-edge technology. Due to the large number of network service providers & data centers located there, North America is predicted to dominate the global market for photonic integrated circuits. The region has adopted fiber optic connection more than other forms of communication, which has contributed to the expansion of the market for photonic integrated circuits.
Additionally, North American-based businesses are heavily funding research to combine electronic & optical components onto a single chip in order to reduce the size of integrated circuits. Due to the region's superior electronics and telecom industries and propensity to adopt cutting-edge technology, the North American photonic IC market led the field. The expansion of the industry is being driven by the requirement to modernize the current infrastructure as well as the expanding use of the components both in sensing as well as communications applications. The U.S. is expected to grow rapidly due to significant growth in the data center, utilities, and energy industries. Additionally, the area will hold a sizable proportion of the market in the upcoming years due to an increase in demand from the U.S. and Canadian IT industries.
A highly lucrative region is North America, which is expected to rise by double digits. Data centers and internet applications for fiber optic communication are driving the demand in North America for devices PIC as its core technology. The region's market for photonic integrated circuits may experience a boom due to the rising need for high-speed data transmission, increased IoT usage, and increased cloud computing data traffic. Applications focused on mobile, video, and the cloud is using more bandwidth, which is taxing on service providers. Businesses are anticipated to build their optical networks surrounding the PIC, advancing the industry. High data transmission demands have increased data traffic, cloud computing, and Internet of Things usage, which could lead to a boom in the regional photonic integrated circuit industry.
Ask To Expert:
https://www.marketresearchfuture.com/ask_for_schedule_call/7480
Europe to Have Admirable Growth in Photonic Integrated Circuit Market
In 2021, Europe owned the second-largest market share for photonic integrated circuits, mostly as a result of the region's expanding number of data centers. According to a trustworthy source, in 2021 there were approximately 450 data centers in Germany, followed via approximately 420 in the United Kingdom and approximately 250 in the Netherlands. Additionally, the growing need for photonic ICs, which are necessary for self-driving cars, speedy fiber-optic communications, & cardiac diagnostic sensors, boosts the market growth potential in the area. For instance, Level 3 autonomous driving will be legalized in Europe in July 2022, which would increase the possibilities for industry players to generate cash in the ensuing years.
COVID-19 Analysis
Even though the COVID-19 outbreak extended to most of the world's regions, the effects of the pandemic are still being felt in nations like Germany, Saudi Arabia, Spain, and the United Kingdom. The demand for most business sectors' products has almost completely decreased. The COVID-19 issue, however, has a beneficial impact on the market for photonic integrated circuits. The producers of photonic integrated circuits saw an opportunity in the pandemic and created a novel Point-of-Care testing gadget that can quickly and accurately determine whether a patient is infected utilizing virus receptors. Demand volatility and supply chain disruptions are problems that most firms must deal with. The PIC market & semiconductor industry, however, are not directly affected by the coronavirus outbreak's catastrophic impacts. As a result, the pandemic condition has a beneficial effect and provides a chance for device development.
Check for Discount:
https://www.marketresearchfuture.com/check-discount/7480
Photonic Integrated Circuit Market Competitive Analysis
Dominant Key Players on PIC Market Covered are:
- Agilent Technologies Inc. (US)
- Aifotec AG (Germany)
- Alcatel-Lucent SA (France)
- Broadcom Inc. (US)
- Ciena Corporation (US)
- CyOptics Inc. (US)
- EMCORE Corporation (US)
- Enablence Technologies Inc. (Canada)
- Finisar Corporation (US)
- Hewlett-Packard Company (US)
- Infinera Corporation (US)
- Intel Corporation (US)
- JDS Uniphase Corporation (US)
- Kaiam Corporation (US)
- Mellanox Technologies Ltd (US)
- Luxtera Inc. (US)
- NeoPhotonics Corp (US)
- Oclaro Inc (US)
- OneChip Photonics Inc. (US)
- TE Connectivity (Switzerland)
Related Reports:
Silicon Wafer Reclaim Market Size Research Report: By Wafer Diameter, by Application, by Region - Forecast till 2030
EMS and ODM Market Share Research Report: by Product, by Application, by Region - Forecast till 2027
Functional Printing Market Analysis Research Report, By Material, Inks, Printing, Application - Forecast till 2027
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
