Photonic Integrated Circuit Market is to grow at 21.5% During the Forecast Period 2022 to 2032

According to a recent Future Market Insights report, the Photonic Integrated Circuit (PIC) Market is expected to reach US$ 1.1 billion in 2021 and grow at a CAGR of 21.5% between 2022 and 2032. By the end of 2032, the market is expected to be worth $9.4 billion.

For a variety of broadband communication applications, such as optical and wireless networks, optical interconnects, and optical coherent communication, a number of material platforms and technologies have been created.

The great potential for low-power, high-performance photonic devices offered by silicon photonic MEMS pave the way for their successful integration into very large-scale photonic integrated circuits, which are necessary for programmable and reconfigurable photonic integrated circuits.

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These activities have contributed to the development of numerous scientific achievements and innovations, including silicon photonics transceivers, InP-based transceivers, and optical and microwave signal processing systems. Since PICs technology is recognised as one of the crucial enabling technologies for supporting numerous nationally vital projects and plans, such as broadband communication, supercomputing, and datacenter, it is anticipated to be continuously supported throughout the coming years.

Key Takeaways from the Market Study

• Global Photonic Integrated Circuit Market is expected to reach a market size of US$ 1.3 Bn by 2022.
• The Hybrid Integration segment, is expected to have the highest CAGR of 21.5% during the forecast period.
• United States is projected to remain the most dominant market with an absolute dollar growth opportunity of US$ 2.4 Bn during 2022 – 2032.
• The market in China is set to experience the highest CAGR of 23.6% during the 2022-2032 forecast period.

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Competitive Landscape

The market is fiercely competitive, where key players are increasingly focused to obtain a competitive advantage. The key companies in the Photonic Integrated Circuits (PIC) Market are focused on R&D to produce innovative technological solutions.

• In February 2022, Ayar Labs, a photonic chip provider with circuits that carry data between processors significantly faster than typical metal interconnects, announced a “multi-year strategic agreement” with Hewlett Packard Enterprise.
• In October 2020, Sanan IC, the world’s largest LED manufacturer announced that it has inked a US$ 50 Mn Joint Venture Agreement with POET Technologies. Super Photonics Xiamen Co., Ltd, the company’s subsidiary, has also applied for registration. This is expected to offer transceiver module makers, systems vendors, data centre operators, and network providers throughout the world with a new generation of cost-effective, high-performance optical engines.
• In May 2022, to increase reliability and performance across all operating scenarios, Cisco announced that it has combined new predictive technologies with its comprehensive portfolio of observability, visibility, and intelligence capabilities.

More Insights Available

In its latest release, Future Market Insights offers a frank analysis of the Photonic Integrated Circuit (PIC) Market, including historical market data (from 2017 to 2021) and projections for the years 2022 to 2032.

By integration type (monolithic integration, hybrid integration, module integration), by application (optical communications, sensing, bio photonics, optical signal processing), by raw material (indium phosphide, gallium arsenide, lithium niobate, silicon, silica-on-insulator, others), and by component (lasers, modulators, detectors, attenuators, MUX/DEMUX, optical amplifiers), the study reveals significant growth in (North America, Europe, Asia Pacific and RoW).

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Market Segments Covered in Photonic Integrated Circuits (PIC) Market Analysis

By Integration Type:

• Monolithic Integration PIC
• Hybrid Integration PIC
• Module IntegrationPIC

By Application:

• Optical Communications
• Sensing
• Bio-photonics
• Optical Signal Processing

By Raw Materials:

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

By Components:

• Lasers
• Modulators
• Detectors
• Attenuators
• MUX/DEMUX
• Optical Amplifiers

By Region:

• North America
• Europe
• Asia Pacific
• RoW

About Us:

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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