Albany, NY -- (SBWire) -- 10/16/2020 --Global Photonic Integrated Circuits (PIC) Market: Overview

According to a new research report pertaining to the photonic integrated circuits (PIC) market, published by Transparency Market Research, the global photonic integrated circuits market is expected to reach a value of ~ US$ 3.3 Bn by 2027, expanding at a CAGR of ~ 23% from 2019 to 2027. According to the report, the global PIC market would continue to be influenced by a range of macroeconomic and market-specific factors during the forecast period.

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Increasing Use of PICs for Communication Systems Driving the Market

In terms of application, the global photonic integrated circuits market has been segmented into optical communication, sensing, optical signal processing, and biophotonics.
The optical communication segment in the PIC market is anticipated to dominate the market, due to a rise in the demand for optical communication systems that transmit large volume of data at high speed over a long distances.

Furthermore, the adoption of optical communication systems offers additional advantages over electric communication, such as high bandwidth capability, low latency, and superior flexibility.
Moreover, sensing applications are also anticipated to play a major role in driving the photonic integrated circuits market in the near future, as photonics offer electromagnetic immunity, metal-free operation, and low-cost integration with electronic devices, as well as high sensitivity in the field of optical sensing.
The optical communication segment in the PIC market is anticipated to expand at a significant CAGR from 2019 to 2027. The sensing segment in the photonic integrated circuits market is also anticipated to expand at a substantial CAGR during the forecast period.

Increasing Use of Silicon Technology in Photonic Integrated Circuits

The report on the PIC market offers detailed segmentation of the global photonic integrated circuits market in terms of integration type (monolithic integration, hybrid integration, and module integration), raw material (indium phosphide, gallium arsenide, lithium niobate, silicon, silicon-on-insulator, and others), components (lasers, modulators, detectors, attenuators, multiplexers/de-multiplexers, and optical amplifiers), and application (optical communication, sensing, optical signal processing, and biophotonics). The global photonic integrated circuits market has also been segmented based on region (North America, Europe, Asia Pacific, Middle East and Africa, and South America).

Among the raw materials, the silicon segment accounted for a substantial share of the global photonic integrated circuits market in 2018, and is anticipated to gain a higher market share during the forecast period, owing to low-cost integration of silicon-based PICs by using silicon-based semiconductor manufacturing techniques.

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North America to be a Highly Lucrative Market for PICs

North America witnesses high investments in optical communication and sensing applications. The optical communication segment is anticipated to dominate the global photonic integrated circuits market throughout the forecast period, owing to the increasing penetration of PICs in long-haul and transport networks across the U.S. and Canada.
Furthermore, with significant investments in sensing and biophotonics applications in the region, the photonic integrated circuits market in North America is anticipated to expand at a high CAGR during the forecast period.
Moreover, the optical signal processing segment is anticipated to gain traction in the PIC market during the forecast period, owing to the increasing demand for higher bandwidth and data transfer rates for optical signal processing networks.

Investments by Key Players to Boost Photonic Integrated Circuits Market

The report provides the profiles of leading players operating in the global photonic integrated circuits market. These include Agilent Technologies, Broadcom, Ciena Corporation, Enablence, Finisar Corporation, Hewlett Packard, Huawei Technologies Co., Ltd., Infinera Corporation, Intel Corporation, Kaiam Corp, Luxtera, MACOM, Mellanox Technologies, NeoPhotonics Corporation, Oclaro, Inc., TE Connectivity, Uniphase Inc., and VLC Photonics S.L.

Luxtera, Inc. and TSMC jointly developed a unique silicon photonics platform in the latter's 300-mm CMOS wafer foundry in 2017. In 2018, Luxtera announced that significant rise in performance has been achieved in the new TSV-enabled silicon photonics platform being developed at TSMC.
The company invests significantly in R&D activities in order to design and develop products, services, and solutions to meet the changing requirements of customers. The company has invested over US$ 250 Mn in the R&D of silicon photonics.
Global Photonic Integrated Circuits Market: Segmentation

The global photonic integrated circuits market has been segmented as follows:

Global Photonic Integrated Circuits (PIC) Market by Integration Type

Monolithic Integration
Hybrid Integration
Module Integration
Global Photonic Integrated Circuits (PIC) Market by Raw Material

Indium Phosphide
Gallium Arsenide
Lithium Niobate
Silicon
Silicon-on-insulator
Others (Including Silica-on-silicon, Silicon Dioxide (SiO2), Silicon Nitride (Si3Ni4))
Global Photonic Integrated Circuits (PIC) Market by Component

Lasers
Modulators
Detectors
Attenuators
Multiplexers/De-multiplexers
Optical Amplifiers
Global Photonic Integrated Circuits (PIC) Market by Application

Optical Communication
Fttx and Access Networks
Microwave/RF Photonics
Long-haul and Transport Networks
Optical Datacom
Sensing
Structural Engineering
Chemical Sensors
Transport & Aerospace
Energy & Utilities
Optical Signal Processing
Optical Metrology
Optical Instrumentation
Quantum Optics
Quantum Computing
Biophotonics
Medical Instrumentation
Photonic Lab-on-a-chip
Analytics & Diagnostics
Optical Biosensors
Global Photonic Integrated Circuits (PIC) Market by Region

North America
Europe
Asia Pacific
Middle East & Africa
South America

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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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