12 Feb 2015

Photonic Integrated Circuits to Grow at 31.3% CAGR from 2013 to 2019

The demand for photonic integrated circuit market is expected to grow rapidly by 2019 due to significant improvements in terms of power consumption, system size, reliability, and cost. According to a new report published by Transparency Market Research based on the study of Photonic Integrated Circuit Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019, the global PIC market is rising at a CAGR of 31.3% in the forecast period 2013-2019. The photonic integrated circuit (IC) market was valued at US$160.1 million in 2012, and is projected to reach an estimated value of US$996.2 million by the end of 2019. 

The research report covering the overall market study of the photonic integrated market lends a deeper understanding of this market through various aspects such as raw materials, major components, application areas, integration types, and geographies actively contributing to the growth of this market during the forecast period, 2013-2019.   

Browse the full Photonic Integrated Circuit (IC) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019 report at http://www.transparencymarketresearch.com/photonic-integrated-circuit.html

After electronic IC, photonic integrated circuits have captured the world of the optical network industry with its revolutionary technology and multiple photonic functions. Capable of transferring data at a faster rate, photonic ICs are developed to provide high speed with high-end functionality and decreasing size. The study analyzes, measures, and provides growth forecasts for numerous applications such as sensing, biophotonics, optical communications, and optical signal processing.  

photonic integrated circuit market
The optical communications sector was the largest application segment under PIC applications. The growing demands for fixed and wireless network devices boosted the optical communications segment in 2012. It accounted for around 63% of the total market. The dominance is likely to continue over the next four years. The market also witnesses promising growth and demand in the sensing and biophotonics application segments due to the demand for high-speed communication in fields like medicine, defense, transportation, aerospace, and many other emerging fields. 

Moreover, the global PIC market shows positive growth signs due to inexpensive fabrication, improved reliability, high power efficiency and high data transfer rates. There is huge competition in this market as several key players are innovating PIC-based products integrated with functions/components to stay competitive across different industry platforms. 

Although hybrid integration currently accounts for 56.1% of the global PIC market and is one of the major integration technologies used in the photonic integrated circuit market, monolithic integration is the future of this market. Due to its ability to integrate medium- and large-scale PICs, the monolithic integration is expected to proliferate over the forecast period. 

Developed and used in different regions around the world, the photonic integrated circuit market is growing rapidly in the Asia-Pacific region. This region is expected to witness high growth due to the recent use of fiber optical communication technology and penetration of image processing capabilities among PIC experts. North America was the leading regional market in 2012. It held the largest market share, accounting for nearly 45% of the global PIC market in the same year. Growth in North America can be attributed mainly to the high use of PIC-based products, especially data center and wireless access network applications.    


Quantum computing, an upcoming PIC application, will be commercialized on a larger scale over the next four years. The use of photonics to serve the purpose of computation using data transfer and high-speed data processing poses great opportunities for the bristling PIC market. 

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Elena Saltzman

I am Elena Saltzman. I am a law graduate and have a Masters in Business Administration in finance. My work profile includes conducting market research and consultation for different verticals across diffrent research industry.

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