Photonic Integrated Circuit Market 2018 Regional Forecast, Industry Global Revenue, Analysis, Competitive Landscape & Forecast Period 2018 – 2024

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.

Photonic IC Market size is anticipated to grow owing to advantages of the components such as cost-effectiveness and enhanced functionalities. Several optical devices, such as multiplexers, modulators, and amplifiers, can be integrated into these circuits, reducing the overall cost and making the system compact. The miniaturization of devices and increase in the level of integration are the key factors driving the photonic IC market. These circuits host complex circuit configurations and feature power efficiency and cost reduction due to miniaturization. Photonic components enable efficient electrical to optical conversion and allow devices to work at high temperatures.

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The ICs use photons for carrying data, unlike electronic ICs that utilize electrons for data transfer. Optical rays carry more data, thereby proving to be superior than electrical semiconductor techniques and facilitate high data transmission rates than copper-based transmissions. The usage of optical devices makes the system discrete. Moreover, these chips can also be integrated with basic electronic circuits further extending their applications for more functions. High-speed data transmission facilitated by these circuits makes them suitable for a wide range of applications across the aerospace, industrial, and telecommunication, utilities, and energy sectors, which is a key factor driving the photonic IC 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.

The indium phosphide segment accounted for the largest share in the photonic IC market owing to the rising need for high-speed data transmission. The ability to integrate both passive and active devices and the capability of cost-effective mass production have led to a rise in the demand. The silicon-based photonic IC market is anticipated to grow at a fast rate owing to the advantages such as small size of components and high efficiency. Moreover, ease-of-fabrication offered by these ICs is projected to propel their demand over the forecast timespan. Enhanced computational and processing capacities of silicon-based components will further boost the segment growth.

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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 R&D 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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