Albany, NY -- (SBWIRE) -- 04/21/2017 -- A new Transparency Market Research report states that the global photonic integrated circuit (photonic IC) market stood at US$0.19 bn in 2013 and is anticipated to touch US$1.3 bn by 2022, by rising at a whopping CAGR of 25.30% CAGR between 2015 and 2022. The title of the report is "Photonic IC Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2022."

Browse the full Photonic IC (Hybrid Integration, Monolithic Integration, and Module Integration) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2022 report at http://www.transparencymarketresearch.com/photonic-integrated-circuit.html

Photonic integrated circuits (IC) are devices over which a number of optical devices are integrated and the technology that drives these devices is known as integrated optics. PICs are normally fabricated with a wafer-scale technology over nonlinear crystal materials such as lithium niobate or substrates of silica and silicon. Photonic IC technology is utilized for transferring high amounts of data at extremely high speeds. Hence, photonic IC-based products are majorly deployed within the optical fiber communications field.

The increasing demand for high data transmission capacity and speed, particularly in data center applications, has resulted in an increased development of the global photonic IC market. In addition, the increasing benefits associated with photonic ICs in terms of size, cost, power consumption, and efficiency are also predicted to the increase their adoption in a number of end-use verticals including telecommunications, healthcare, industrial, defense, aerospace, and data communication. However, the rising issues related to the packaging and design of photonic ICs are impeding the growth of the overall market.

On the basis of integration type, the report segments the global photonic IC market into hybrid integration, monolithic integration, and module integration. Amongst these, hybrid integration led the market in 2013 on the basis of revenue and is predicted to maintain its superiority all through the forecast horizon. On the other hand, monolithic integration is poised to exhibit the highest CAGR of 25.50% between 2015 and 2022. This is owing to its ability of integrating both large-scale and medium-scale photonic ICs.

By raw material, the report segments the market into indium phosphide, gallium arsenide, lithium niobate, silicon, silicon-on-insulator, and others such as silica-on-silicon, silicon dioxide (SiO2), and silicon nitride (Si3Ni4). Of these, silicon-on-insulator (SOI) and indium phosphide (InP) are amongst the most demanded raw materials in the market and constituted a collective share of 60.9% in the market in 2013. By component, the report segments the photonic IC market into lasers, detectors, modulators, optical amplifiers, attenuators, and multiplexers/de-multiplexers.

By application, the report segments the market into optical communication, optical signal processing, sensing, and biophotonics. Optical communications are further segmented into fttx and access networks, microwave/RF photonics, long-haul and transport networks, and optical datacom. The segment of sensing is further segmented into structural engineering, chemical sensors, transport and aerospace, and energy and utilities. Optical signal processing is further categorized into optical metrology, optical instrumentation, quantum optics, and quantum computing, while biophotonics is further segmented into medical instrumentation, photonic lab-on-a-chip, analytics and diagnostics, optical biosensors. Amongst these, the segment of optical communications led the market in 2013 and held a share of 58.6% in the market; it is predicted to maintain its dominance throughout the forecast horizon.

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Geographically, the report segments the market into Europe, North America, Asia Pacific, and Rest of the World in including the Middle East and Africa and Latin America. Of these, the North America photonic IC market held the largest share of 39.0% in 2013 and is predicted to maintain its superiority all through the forecast horizon. On the other hand, Asia Pacific is poised to experience the highest growth rate and will expand at a 26.5% CAGR from 2015 to 2022.

As per the report, the key players in the market are Huawei Technologies Co. Ltd (China), Infinera Corporation (the U.S.), JDS Uniphase Corporation (the U.S.), Alcatel-Lucent S.A. (France), Intel Corporation (the U.S.), NeoPhotonics Corporation (the U.S.), and Avago Technologies Ltd. (Singapore), among others.