According to a new report by Expert Market Research titled, “Global Photonic Integrated Circuits Market Share, Size, Report and Forecast 2024-2032″, the global photonic integrated circuits (PIC) market size reached a value of USD 21,150 million in 2023. Aided by the increasing demand for high-speed data transmission and the growing applications of photonic integrated circuits in various sectors, the market is projected to further grow at a CAGR of 20.3% between 2024 and 2032 to reach a value of USD 113,984 million by 2032.
Photonic integrated circuits (PICs) are devices that integrate multiple photonic functions, such as light generation, modulation, detection, and signal processing, onto a single chip. These circuits leverage the properties of light to perform various tasks with high efficiency and speed. PICs are used in a wide range of applications, including telecommunications, data centres, medical diagnostics, and sensing.
The increasing demand for high-speed data transmission is driving the photonic integrated circuits market growth. With the exponential growth of data generated by digital activities and the need for rapid data transfer, there has been a significant shift towards photonic technologies. PICs offer the advantage of higher bandwidth, lower latency, and reduced power consumption compared to traditional electronic circuits, making them ideal for high-speed data communication.
Get a Free Sample Report with Table of Contents: https://www.expertmarketresearch.com/reports/photonic-integrated-circuits-market/requestsample
Additionally, the expanding applications of photonic integrated circuits across various sectors play a significant role in propelling the market. In the telecommunications sector, PICs are used in fibre-optic communication systems to enhance the performance and capacity of networks. The growing deployment of 5G networks and the increasing demand for high-speed internet services are driving the adoption of PICs in telecommunications.
The healthcare sector’s growing use of photonic integrated circuits is another key driver of market growth. PICs are used in medical diagnostics and imaging systems, enabling high-resolution imaging and accurate detection of diseases. The development of advanced diagnostic tools and the increasing demand for minimally invasive procedures are boosting the market for PICs in healthcare, consequently driving up the photonic integrated circuits market share.
The global market has witnessed several significant developments in recent years. Key players in the market are focusing on strategic initiatives such as mergers and acquisitions, collaborations, and product innovations to strengthen their market presence and enhance their product offerings.
Read Full Report with Table of Contents: https://www.expertmarketresearch.com/reports/photonic-integrated-circuits-market
For instance, leading PIC manufacturers are investing in research and development to introduce innovative products with enhanced functionalities, such as improved signal processing, higher integration density, and better power efficiency. Companies are also expanding their production capacities to meet the growing demand for PICs in various regions. Additionally, the adoption of advanced manufacturing technologies, such as silicon photonics and 3D integration, is improving the efficiency and scalability of PIC production.
Furthermore, the increasing focus on sustainability is shaping the photonic integrated circuits market. Manufacturers are developing energy-efficient PICs to address environmental concerns and comply with regulatory requirements. The integration of renewable energy sources and sustainable materials in the production of PICs is gaining traction, contributing to market growth.
As per the global photonic integrated circuits market analysis, North America is a significant market for photonic integrated circuits, driven by the high demand for high-speed data communication and advanced healthcare solutions. The United States, in particular, is a major adopter of PIC technologies, supported by extensive research and development activities and favourable economic conditions.
Europe is witnessing robust growth in the photonic integrated circuits market, supported by the increasing adoption of advanced communication technologies and the presence of leading PIC manufacturers. Countries such as Germany, the UK, and France are leading in PIC innovation. The region’s emphasis on environmental sustainability and regulatory compliance further enhances market prospects.
Market Segmentation
The market can be divided based on integration type, raw material, component, application, and region
Market Breakup by Integration Type
• Monolithic Integration
• Hybrid Integration
Material Breakup by Raw Material
• III-V Material
• Lithium Niobate
• Silica-on-Silicon
• Silicon-on-Insulator
• Others
Market Breakup by Component
• Lasers
• Modulators
• Detectors
• Attenuators
• Multiplexers/De-multiplexers
• Optical Amplifiers
Market Breakup by Application
• Telecommunications
• Biomedical
• Data Centers
• Optical Sensors (LiDAR)
Market Breakup by Region
• North America
• Europe
• Latin America
• Asia Pacific
• Middle East and Africa
Competitive landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global photonic integrated circuits (PIC)market. Some of the major players explored in the report by expert market research are as follows:
• Infinera Corporation
• Coherent Corp. (II-VI Incorporated)
• Intel Corporation
• Lumentum Holdings Inc.
• IBM Corporation
• Cisco Systems, Inc.
• STMicroelectronics N.V.
• Others
Read More Trending Reports
Family Offices Market: https://www.expertmarketresearch.com/reports/family-offices-market
Onion Powder Market: https://www.expertmarketresearch.com/reports/onion-powder-market
Passenger Ferries Market: https://www.expertmarketresearch.com/reports/passenger-ferries-market
About us
Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.
Our high-quality, data-driven analysis provides the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today’s competitive market.
Don’t miss the opportunity to elevate your business intelligence and strengthen your strategic planning. Secure your organisation’s future success by acquiring one of our expert market research reports today.
Media Contact
Company Name: Claight Corporation
Contact Person: John Walker, Corporate Sales Specialist – U.S.A.
Email: sales@expertmarketresearch.com
Toll Free Number: +1-415-325-5166 | +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
Website: https://www.expertmarketresearch.com
Aus Site: https://www.expertmarketresearch.com.au
