The Global Market for PIC is Projected to Reach US$2.4 Billion by 2024
Surging Investments on
Advanced Telecom Infrastructure & Strong Fiber Optic Networks Drive Demand
for Photonic Integrated Circuit, According to a New Report by Global Industry Analysts,
Inc.
GIA
launches comprehensive analysis of industry segments, trends, growth drivers,
market share, size and demand forecasts on the global Photonic Integrated
Circuit (PIC) market. The global market for PIC is
projected to reach US$2.4 billion by 2024, driven by growing bandwidth needs
necessitating strengthening of fiber optic networks, surging investments on
advanced telecom infrastructure fueling wider adoption of PICs, upcoming
quantum computing model, and expanding role of DCI in data centers.
Photonic
Integrated Circuit (PIC), also called as integrated optical circuit or simply
optical chip, is a semiconductor solution engineered to integrate multiple
optical elements on a single chip. Expected to serve as a viable replacement
for traditional electronic ICs and copper-based data transmissions, photonic
ICs utilize photons for transmitting data among computer chips. Photonic ICs
are increasingly preferred as optical wavelengths carry more data and more
rapidly than electrical semiconductors. The pressing need for greater data
transmission speed, high bandwidth, miniaturization and advanced integration
are the driving forces for the adoption and integration of photonic ICs in
laptops, mobile phones, and other electronic devices and peripherals in the
consumer electronics market. Other key growth drivers such as the ability to
support a broad range of devices and functions, growing end-user demands,
enhanced functionalities, demand for optical and sensing devices, capacity for
mass manufacturing and developments in photonic technology creates demand
opportunities for adoption in diverse group of industries. The need for new
technology driven by rapid industrialization, availability of real-time data
and last mile connectivity are also expected to play pivotal role in propelling
demand for photonic ICs.
Use
of PIC continues to expand given the large-scale benefits offered in areas such
as Optical-to-Electrical-to-Optical
(OEO) conversion, number of optical packages, fiber coupling requirements and need for
separate fabrication, packaging, burn-in and testing processes for each
component to achieve desired efficiency. Optical communications is forecast to
dominate the application market and grow at an accelerated pace due to
favorable factors such as cost-effectiveness, spike in data users, efficiency
in handling increased data traffic, low signal requirement and provision of
high bandwidth. In comparison to monolithic integration, the hybrid or
packaging integration commands significant share due to advantages such as the
ability to select suitable individual components for integration,
cost-effectiveness, facilitates optimized performance and reduced fabrication
costs. Wide ranging applications in data centers and servers, high-end
computing, medical devices, military and aerospace, smartphones, tablets and
gaming devices drives technological advancements in packaging photonic
integration.
As stated by the new market research report on Photonic
Integrated Circuit (PIC), the United States represents the largest
market worldwide. Favorable growth factors for the expansion of the US market
include increasing usage of optical fiber communications in data centers and
WAN applications, adoption of advanced technologies by telecom and electronic
sector, and increased integration in communications and sensing applications. Asia-Pacific
is poised to emerge as the fastest growing market with a CAGR of 28.9% over the
analysis period on account of rapid economic growth, increased implementation
of optical fiber communications, greater demand arising from information
technology sector in India and China, increase in data centers and transport
and long haul networks.
Major
players in the market include Broadcom Inc., Ciena Corporation, Ciena
Corporation, Enablence Technologies Inc., Huawei Technologies Co. Ltd.,
Infinera Corporation, Kaiam Corporation, Lumentum Operations LLC, NeoPhotonics
Corporation, Nokia Networks, and Oclaro Inc., among others.
The
research report titled “Photonic Integrated Circuit
(PIC): A Global Strategic Business Report” announced by Global Industry Analysts Inc.,
provides a comprehensive review
of market trends, issues, drivers, mergers, acquisitions and other strategic
industry activities of global companies. The report provides market estimates
and projections for Photonic Integrated Circuit (PIC) in US$ Thousand for all
major geographic markets such as the US, Canada, Japan, Europe (France,
Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, South
Korea, and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin
America), and Rest of World. The report analyzes the global PIC market by application
– Optical Signal Processing, Optical Communications, and Others. The report
also provides global analytics for the PIC market by integration methods – Packaging,
Monolithic Integration, and Module Integration.
For
enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com.
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