Photonic Integrated Circuit Market Growth, Analysis, Statistics, Trends, Forecast Report, 2024

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Photonic IC Market Analysis, Industrial Forecast
and Trends from 2018 to 2024 Global Market
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Fuel Cell Market size worth 25.5bn by 2024
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Regional Analysis of Photonic Integrated
Circuit Market

• North America photonic IC market dominated the
  industry owing to the presence of advanced
  electronics and telecom sectors in the region and
  its tendency to adopt the latest advanced
  technologies. The need to upgrade the existing
  infrastructure coupled with the growing adoption
  of the components in sensing and communications
  applications is driving the industry growth.
• The U.S. is projected to witness a strong growth
  owing to the major spur in transport networks,
  data centers, and utilities energy industry. In
  addition, the region will account for a
  substantial share in the photonic IC market over
  the coming years owing to a rising demand from
  the IT sector in the U.S. and Canada.

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• Application Analysis of Photonic Integrated
  Circuit Market
• The laser photonic IC market accounted for the
  majority of the industry share and is expected to
  grow at a high rate owing to its wide usage in
  applications such as telecommunication and data
  center domains. Usage of lasers provides a wide
  operating temperature range, enhanced optical
  power, and spectral purity. Increasing
  applications and widespread use of lasers in
  marking, engraving, cutting, welding, and
  drilling are being witnessed. Companies, such as
  Intel, are focusing on implementing technologies
  such as hybrid silicon laser. Lasers being one of
  the essential components of these ICs, the demand
  for the segment is expected to increase over the
  coming years.
• In the photonic IC market, optical communication
  dominated the industry and will grow at a fast
  rate over the forecast timespan. Over the last
  few years, the industry has witnessed a
  tremendous increase in the data traffic. Optical
  communication based on the photonic ICs offers an
  efficient and cost-effective alternative to data
  transmission. In addition, owing to its
  efficiency in handling the increasing data
  traffic, the demand for optical communications
  photonic IC market is anticipated to increase.
  Moreover, the high bandwidth and low signal
  attenuation provided by optical communication
  systems are expected to boost their demand.

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Competitive Market Share of Photonic Integrated
Circuit Market

• Major players operating in the photonic IC market
  include Neophotonics Corporation, Hewlett-Packard
  Enterprise, Infinera Corporation, Agilent
  Technologies, JDS Uniphase Corporation, Ciena
  Corporation, Luxtera, Inc., Avago Technologies,
  TE Connectivity Ltd., Alcatel-Lucent, Intel
  Corporation, Finisar Corporation, and Huawei
  Technologies Co., Ltd. The photonic IC market is
  competitive and fragmented in nature.
• Major players are investing in the RD and are
  competing based on technology differentiation and
  product innovations. Moreover, the intensity of
  the competition is anticipated to remain high
  over the coming years.

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