Photonic Integrated Circuit Market Exhibits Higher Growth Prospects during 2018-2026
The increasing demand for photonic integrated circuits in multiplexers and DE multiplexers, lasers, modulators and optical amplifiers is the primary factor driving the growth of the photonic integrated circuit market.
[USPRwire, Thu Jul 18 2019] Optical technology makes the world of communication more compact and discrete and offers high performance as compared to electronics devices. Photonic integrated circuits are expected to emerge as a new technology in optical systems during the forecast period. The growing need to develop and deploy high-speed data transmissions is one of the major factors driving the demand for photonic integrated circuits. Also, the ability to leverage mass manufacturing, coupled with the fabrication of highly integrated circuits that can support hundreds of functions, is also one of the major factors expected to create potential growth opportunities for the Photonic Integrated Circuit Market.
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A photonic integrated circuit is a complex integrated circuit that incorporates a lot of optical devices such as modulators, optical amplifiers, lasers and multiplexers to form a single photonic circuit. It provides functions for information signals imposed on optical wavelengths typically in the visible spectrum or near infrared 850 nm-1650 nm. Photonic integrated circuits are commonly used as optical (de)multiplexers in wavelength division multiplexed (WDM) fibre-optic communication systems. Therefore, with the growing demand for fibre-optic communication systems, the adoption of photonic integrated circuits is expected to rise during the forecast period.
The increasing demand for photonic integrated circuits in multiplexers and DE multiplexers, lasers, modulators and optical amplifiers is the primary factor driving the growth of the photonic integrated circuit market. Also, the rapid advancements in technology such as wireless charging and energy conversion are also some of the major factors driving the growth of the photonic integrated circuit market. Moreover, the wide range of applications of photonic integrated circuits in high-end computing, servers & data centres, and military & aerospace drives the demand for photonic integrated circuits. Furthermore, the boom in the tablets, smartphones and gaming devices is fuelling the growth of the photonic integrated circuit market.
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Apart from this, the increasing demand for high data transmission capacity and speed, particularly in data centre applications, has been driving the growth of the global photonic integrated circuit market. Also, the demand for photonic integrated circuits is expected to rise as photonic integrated circuits provide high bandwidth for use to customers, which is increasing the rate of operation.
One of the major challenges that hampers the growth of the photonic integrated circuit market is the fact that photonic integrated circuits may be affected by the neutron flux effect, which may cause a loss in some of its functions. Also, the rising issues related to the packaging and design of photonic integrated circuits are impeding the growth of the overall photonic integrated circuit market.
Global Photonic Integrated Circuit Market: Competition Landscape
Some of the prominent players in the photonic integrated circuit market are Infinera Corporation, Huawei Technologies, Intel, NeoPhotonics Corporation, OneChip Photonics, Avago Technologies, Ciena, Oclaro, Emcore Corporation, Ciena Corporation, Avago Technologies, Cyoptics, Aifotec AG, Enablence Technologies and Agilent Technologies.
Global Photonic Integrated Circuit Market: Regional Overview
On the basis of geography, North America is expected to capture a large share in the photonic integrated circuit market, owing to the presence of various photonic integrated circuit providers in the region. Asia Pacific is also expected to gain a substantial share in the photonic integrated circuit market, due to the rising application of optical fibre communications, especially in data centres and WAN. The photonic integrated circuit market in Europe is expected to register a high growth rate during the forecast period, owing to the economic growth in the region. Moreover, the photonic integrated circuit market in MEA and Latin America is also expected to grow rapidly, due to the rapid advancements in technology such as wireless charging and energy conversion.
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