According to the report, the global photonic integrated circuits (PIC) market attained a value of USD 21.15 billion in 2023. The market is estimated to grow at a CAGR of 20.3% during 2024-2032 to reach a value of USD 113.98 billion by 2032.
Photonic integrated circuits (PIC), also known as integrated optoelectronics devices, are entities that consolidate multiple photonic functions. They primarily allow for the manipulation and transfer of optical signals, reducing the gap between photonics and electronics. Being compact and power-efficient, PICs have gradually emerged as the backbone for various high-speed, high-capacity telecommunication, and data communication systems.
One of the significant photonic integrated circuits (PIC) market trends is the growing shift towards high-speed data services, supported by the 5G revolution and expanding broadband infrastructure globally. This shift necessitates efficient, cost-effective, and compact solutions to manage vast volumes of data, propelling the demand for PICs.
Moreover, the rising adoption of cloud services, coupled with the proliferation of data centres, has further bolstered the photonic integrated circuits (PIC) market demand. The burgeoning requirements for efficient data storage and retrieval systems have enhanced the importance of PICs, given their prowess in facilitating quick data transfer with minimal energy consumption.
Furthermore, sensing applications represent a burgeoning frontier for the PIC market. From environmental monitoring to industrial process control, the demand for precise, real-time data is relentless. PICs, with their superior sensing capabilities, offer an optimal solution, ensuring real-time data acquisition and processing with better accuracy.
The photonic integrated circuits (PIC) market analysis highlights the role of PICs in biomedical applications. They are fast gaining traction in medical imaging systems, given their precision and efficiency. Optical coherence tomography and endoscopic imaging are some of the many biomedical processes that are benefitting from the integration of PICs.
The drive towards miniaturised electronic devices, be it consumer gadgets or specialised industrial equipment, fuels the growth of the PIC market. The need for compact, efficient, and power-conserving components is higher than ever. PICs, given their intrinsic design and operational advantages fulfil this need efficiently. Their ability to handle multiple optical functions simultaneously makes them the preferred choice for various applications.
The expanding realm of quantum computing further supports the photonic integrated circuits (PIC) market growth. Quantum computers, focused to revolutionise computing, rely heavily on PICs to handle and process quantum information. As research in this domain intensifies and quantum computers come closer to reality, the importance of PICs in this domain is expected to further rise.
Photonic integrated circuits (PIC), also known as integrated optoelectronics devices, are entities that consolidate multiple photonic functions. They primarily allow for the manipulation and transfer of optical signals, reducing the gap between photonics and electronics. Being compact and power-efficient, PICs have gradually emerged as the backbone for various high-speed, high-capacity telecommunication, and data communication systems.
One of the significant photonic integrated circuits (PIC) market trends is the growing shift towards high-speed data services, supported by the 5G revolution and expanding broadband infrastructure globally. This shift necessitates efficient, cost-effective, and compact solutions to manage vast volumes of data, propelling the demand for PICs.
Moreover, the rising adoption of cloud services, coupled with the proliferation of data centres, has further bolstered the photonic integrated circuits (PIC) market demand. The burgeoning requirements for efficient data storage and retrieval systems have enhanced the importance of PICs, given their prowess in facilitating quick data transfer with minimal energy consumption.
Furthermore, sensing applications represent a burgeoning frontier for the PIC market. From environmental monitoring to industrial process control, the demand for precise, real-time data is relentless. PICs, with their superior sensing capabilities, offer an optimal solution, ensuring real-time data acquisition and processing with better accuracy.
The photonic integrated circuits (PIC) market analysis highlights the role of PICs in biomedical applications. They are fast gaining traction in medical imaging systems, given their precision and efficiency. Optical coherence tomography and endoscopic imaging are some of the many biomedical processes that are benefitting from the integration of PICs.
The drive towards miniaturised electronic devices, be it consumer gadgets or specialised industrial equipment, fuels the growth of the PIC market. The need for compact, efficient, and power-conserving components is higher than ever. PICs, given their intrinsic design and operational advantages fulfil this need efficiently. Their ability to handle multiple optical functions simultaneously makes them the preferred choice for various applications.
The expanding realm of quantum computing further supports the photonic integrated circuits (PIC) market growth. Quantum computers, focused to revolutionise computing, rely heavily on PICs to handle and process quantum information. As research in this domain intensifies and quantum computers come closer to reality, the importance of PICs in this domain is expected to further rise.
Market Segmentation
The market can be divided based on type, raw material, component, application, and region.Market Breakup by Type
- Monolithic Integration
- Hybrid Integration
Market Breakup by Raw Material
- III-V Material
- Lithium Niobate
- Silica-on-Silicon
- Silicon-on-Insulator
- Others
Market Breakup by Component
- Lasers
- Modulators
- Detectors
- Transceivers
- Multiplexers/De-multiplexers
- Optical Amplifiers
Market Breakup by Application
- Telecommunications
- Biomedical
- Data Centers
- Optical Sensors(LiDAR)
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The 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 are as follows:- Infinera Corporation
- II-VI Incorporated
- NeoPhotonics Corporation
- Intel Corporation
- Lumentum Operations LLC
- Others
Table of Contents
1 Preface2 Report Coverage - Key Segmentation and Scope4 Key Assumptions7 Opportunities and Challenges in the Market14 Value Chain Analysis17 Key Trends and Developments in the Market
3 Report Description
5 Executive Summary
6 Snapshot
8 Global Photonic Integrated Circuits (PIC) Market Analysis
9 North America Photonic Integrated Circuits (PIC) Market Analysis
10 Europe Photonic Integrated Circuits (PIC) Market Analysis
11 Asia Pacific Photonic Integrated Circuits (PIC) Market Analysis
12 LAMEA Photonic Integrated Circuits (PIC) Market Analysis
13 Market Dynamics
15 Competitive Landscape
List of Key Figures and Tables
Companies Mentioned
- Infinera Corporation
- Coherent Corp. (II-VI Incorporated)
- Intel Corporation
- Lumentum Holdings Inc.
- IBM Corporation
- Cisco Systems, Inc.
- STMicroelectronics N.V.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 134 |
| Published | November 2023 |
| Forecast Period | 2024 - 2032 |
| Estimated Market Value ( USD | $ 25.9 Billion |
| Forecasted Market Value ( USD | $ 113.98 Billion |
| Compound Annual Growth Rate | 20.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 7 |
