The Global Photonic IC Market, was valued at US$ 1,719.3 Million in 2021 and is expected to surpass US$ 22,965.8 Million by 2030, registering a CAGR of 33.6% during the forecast period (2022-2030), according to the Global Photonic IC Market, By Components (Lasers, Modulators, Detectors, Attenuators, MUX/DEMUX, Optical Amplifiers), by Integration Type (Monolithic Integration, Hybrid Integration and Module Integration), By Raw Material (Indium Phosphide, Gallium Arsenide, Lithium Niobate, Silicon, Silica-on-Insulator and Others), by Application (Optical communications, Sensing, Biophotonics and Optical signal processing), by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), published by Coherent Market Insights.
A photonic integrated circuit (IC) is a device that integrates two or more photonic functions similar to an electronic integrated circuit. Photonic ICs are used in fiber-optic communications to multiplex and demultiplex Wavelength Division Multiplex (WMD) carrier signals. The main difference between electronic integrated circuits and photonic ICs lies in the type of raw material used for its fabrication. In electronic ICs, silicon is the primary and most dominant material used for fabrication so far, while in the case of PICs, the type of material used majorly depends upon the function/purpose of the device.
The global photonic IC market is estimated to account for US$ 22,965.8 Mn in terms of value by the end of 2030.
Key Developments
In September 2021, NeoPhotonics (Lumentum) has announced the release of a 400G Multi-Rate CFP2-DCO coherent pluggable transceiver with high output power that has a 0 dBm output power and is intended to work in local, regional, and long-haul ROADM-based optical networks.
Global Photonic IC Market - Impact of Coronavirus (Covid-19) Pandemic:
Due to the Covid-19 pandemic, many industries witnessed a significant shift in their business. The ongoing COVID-19 pandemic had adversely affected many industries in the countries. This was due to the lockdown imposed by several countries to stop the spread of coronavirus. Increased demand for UV-C LEDs in the medical industry was expected to drive the growth of the photonics IC market till the time coronavirus was not properly cured. The UV-C LEDs are used for decontamination and increased the demand for photonic IC. Hence Photonic IC market shown moderate growth during the pandemic.
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Key Trends and Analysis of the Global Photonic IC Market:
- Among regions, North America is expected to witness significant growth in the global photonic IC market during the forecast period. This is owing to large presence of major market players such as Intel Corporation, Hewlett Packard, Agilent Technologies, Inc., and Avago Technologies. Moreover, increasing use of lasers in various sectors is expected to boost the regional market growth in the near future.
- Europe is expected to register robust growth rate in the global photonic IC market over the forecast period. This is owing to rising use of monolithic photonic ICs across the region. Moreover, increasing application of hybrid photonic ICs is expected to accelerate the regional market growth in the near future.
- Major players operating in the global photonic IC market are Agilent Technologies, Inc., Intel Corporation, Aifotec AG, Infinera Corporation, Alcatel-Lucent, Hewlett Packard, Avago Technologies Finisar Corporation, Ciena Corporation, Enablence Technologies Inc., and Emcore Corporation.
