Fort Collins, Colorado, April 03, 2024 (GLOBE NEWSWIRE) -- The Photonic IC Market size was valued at USD 8.6 Billion in 2023 and is expected to reach a market size of USD 47.6 Billion by 2032 at a CAGR of 20.9%.
Photonic ICs are chips that contain two or more photonic components and use photons to process and transmit information to their destination. They are used in several applications, such as optical communication, sensing, biophotonics, and optical signal processing. Demand from the electronic industry for newer technologies to meet bandwidth needs and data transfer requirements contributes to the adoption of photonic ICs.
The technological advancement in photonic IC is a major factor driving their increasing adoption. The decrease in size and weight of the photonic ICs enables their use across new generations of embedded computing, majorly in smartphones and tablets. The extensive use of Si photonics leverages the feature of the high-resolution lithography toolset of the CMOS industry. This helps fabricate PICs on a wafer scale that reduces the overall size to a nano-scale. Additionally, there is an ongoing innovation in the PIC technology to increase the spectrum of applications across various domains.
The growing areas of application of photonic IC present growth avenues to prominent market players and can contribute to market expansion during the forecast period. Innovation in PIC technology enables researchers and engineers to overcome technological challenges and develop new materials and fabrication techniques. Technologies such as quantum-enabled photonic increase computing speed, secure communications, and quantum cryptography.
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Segmentation Overview:
The global photonic IC market has been segmented into component, integration, raw material, application and region. Based on component, the MUX/DEMUX segment held a dominant market share. Based on application, optical communication held the dominant application in the industry. Multiplexer is an electronic device that is responsible for selecting one or more analog or digital input signals. These input signals are then forwarded into a single line. Multiplexers are used to increase the amount of data sent over a network within a certain amount of time and bandwidth.
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Photonic IC Market Report Highlights:
- The global photonic IC market growth is anticipated at a CAGR of 20.9% by 2032.
- The electronic industry's demand for newer technologies to meet the growing bandwidth and data transfer requirements is a prominent factor contributing to market growth.
- North America accounted for a significant market share in 2023. This can be attributed to major players and innovations in the photonic integrated circuits technology by these participants, such as IBM, Luxtera, Micron Technology, Intel, and Anello Photonics.
- Some prominent players in the photonic IC market report include Agilent Technologies, Intel Corporation, Aifotec AG, NeoPhotonics Corporation, Infinera Corporation, Alcatel-Lucent, POET Technologies Inc., Hewlett Packard, Avago Technologies, Cisco Systems, Inc., Ciena Corporation, Enablence Technologies Inc., and Emcore Corporation.
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Photonic IC Market Segmentation:
By Component: Lasers, Modulators, Detectors, Attenuators, MUX/DEMUX, Optical, and Amplifiers
By Integration: Monolithic, Hybrid and Module
By Raw Material: Indium Phosphide (InP), Gallium Arsenide (GaAs), Lithium Niobate (LiNbO3), Silicon, and Others.
By Application: Optical Communication, Sensing, Biophotonics, and Optical Signal Processing
By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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