Photonic Integrated Circuit Market worth US$ 51.5 Billion by 2032 with a CAGR of 17.67%

IMARC Group, a leading market research company, has recently releases report titled “Photonic Integrated Circuit Market Report by Component (Lasers, MUX/DEMUX, Optical Amplifiers, Modulators, Attenuators, Detectors), Raw Material (Indium Phosphide (InP), Gallium Arsenide (GaAs), Lithium Niobate (LiNbO3), Silicon, Silica-on-Silicon), Integration (Monolithic Integration, Hybrid Integration, Module Integration), Application (Optical Fiber Communication, Optical Fiber Sensor, Biomedical, Quantum Computing), and Region 2024-2032.” The study provides a detailed analysis of the industry, including the global photonic integrated circuit market growth, trends, size, share and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

The global photonic integrated circuit market size reached US$ 11.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 51.5 Billion by 2032, exhibiting a growth rate (CAGR) of 17.67% during 2024-2032. The expanding cloud computing and data storage industry, the widespread product applications in medical imaging, diagnostics, and optical sensing, the increasing demand for Lidar systems, and the growth of undersea and satellite optical communication networks are some of the factors propelling the market.

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Factors Affecting the Growth of the Photonic Integrated Circuit Industry:

• Increasing Demand for High-Speed Data Transmission:

With the proliferation of data-intensive applications and services, such as high-definition (HD) video streaming, online gaming, and cloud computing, there is a need for higher bandwidth. Conventional electronic circuits have limitations in terms of data transmission speed, making them inadequate for addressing the ever-increasing bandwidth requirements. Photonic integrated circuits (PICs) leverage the properties of light to transmit data at much higher speeds, making them a crucial solution for meeting the growing demand. Data centers are the backbone of modern digital infrastructure, as they store, process, and transmit vast amounts of data. PICs enable data centers to achieve faster interconnects and reduce latency, contributing to their scalability and performance.

• Advancements in Photonics Technology:

Photonics research is leading to the discovery and development of advanced materials with unique optical properties. These materials can be integrated into PICs to enhance their performance. In addition, the use of novel materials like silicon photonics is enabling the creation of more efficient and compact PICs, increasing their attractiveness to various industries. Advancements in fabrication techniques, such as lithography and etching processes, are bolstering the growth of the market. These techniques allow for precise and miniaturized manufacturing of PICs, resulting in higher integration levels and improved functionality.

• Energy Efficiency and Reduced Power Consumption:

PICs, which use photons for data transmission, are inherently more energy efficient as compared to traditional electronic circuits. By incorporating PICs into data center infrastructure, companies can significantly reduce the power consumption of data transmission and processing, leading to substantial energy cost savings. Electronic circuits generate heat as a byproduct of their operation, necessitating cooling systems that consume additional energy. PICs generate minimal heat since they rely on optical signals instead of electric currents. This reduces the cooling requirements in data centers and other applications, further contributing to energy efficiency.

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Photonic Integrated Circuit Market Report Segmentation:

Breakup by Component:

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

Lasers represented the largest segment as they are a fundamental component in many PICs.

Breakup by Raw Material:

• Indium Phosphide (InP)
• Gallium Arsenide (GaAs)
• Lithium Niobate (LiNbO3)
• Silicon
• Silica-on-Silicon

Indium phosphide (InP) accounted for the largest market share due to its excellent optical properties.

Breakup by Integration:

• Monolithic Integration
• Hybrid Integration
• Module Integration

Monolithic Integration exhibits a clear dominance in the market as it offers the advantage of integrating all optical components on a single chip.

Breakup by Application:

• Optical Fiber Communication
• Optical Fiber Sensor
• Biomedical
• Quantum Computing

Optical fiber communication holds the biggest market share on account of its well-established and critical application for PICs.

Breakup by Region:

• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa

North America enjoys the leading position in the photonic integrated circuit market due to strong presence of tech companies.

Global Photonic Integrated Circuit Market Trends:

The increasing demand for data storage and processing is leading to the rapid expansion of data centers. PICs are being extensively used in data centers to improve energy efficiency, reduce latency, and enhance data transmission speeds.

The deployment of 5G networks is driving the adoption of PICs in the telecommunication sector. PICs play a crucial role in enabling high-speed, low-latency data transmission for 5G infrastructure.

Who Are The Key Players Operating In The Industry?

The report covers the major market players including:

• Broadcom Inc.
• ColorChip Ltd.
• Hamamatsu Photonics K.K.
• II-VI Incorporated
• Infinera Corporation
• Intel Corporation
• LioniX International
• POET Technologies
• VLC Photonics S.L. (Hitachi Ltd.).

Other Key Points Covered in the Report:

• COVID-19 Impact
• Porters Five Forces Analysis
• Value Chain Analysis
• Strategic Recommendations

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