A
photonic integrated circuit (PIC), as the name suggests, makes use of
photons to carry data, as opposed to electronics that make use of
electrons to do the same. A PIC essentially integrates two or more
photonic functions to form an integrated optical circuit. Photons,
with their attribute of traveling at the speed of light, have made
the development of highly sophisticated optical chips a reality by
improving the speed of data transfer. With a never-ending demand for
high data speeds and the subsequent investments by companies to cater
to this need, the global photonic IC market is expected to benefit
immensely.
Putting
this growth into numbers, Transparency Market Research, a market
intelligence and consulting firm, predicts that the global photonic
IC market will touch US$1.3 bn by the end of 2022, rising at a
CAGR of 25.3% from 2015 through 2022. In 2013, the global photonic IC
market was valued at US$0.19 bn.
Cost
and Size Reduction of Photonic ICs Gives Market Head Start
The
integration of various optical components such as lasers, modulators,
and detectors into a single, multi-functional component has proven to
be a launch pad for the global photonic IC market. Moreover, other
desirable qualities of photonic ICs—such as better transmission
capacities and speed, lower power consumption, and higher
efficiency—have helped their adoption rates soar.
Photonic
ICs have thus become commonplace in a myriad of industry verticals
such as aerospace and defense, telecommunication, metrology, and
healthcare. With new technological advancements reported in the
global photonic ICs market, growth is a certain. Quantum computing,
which is expected to be commercialized by 2018, will generate massive
demand for photonic ICs. Quantum computing will mark a new
breakthrough in processing power speeds, and this could be the
biggest opportunity yet for companies in the photonic ICs market.
That
having been said, design issues continue to be a matter of concern in
large-scale photonic integration. In 2013, North America accounted
for 39.0% of the global photonic IC market’s revenue and will
continue to remain in the reigning position over the next few years.
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Hybrid
Integration Predicted to Remain Dominant but Will Face Competition
from Monolithic Integration
Based
on the integration technique, the photonic IC market can be divided
into hybrid integration, monolithic integration, and module
integration. Hybrid integration is the most preferred integration
technique currently and will continue to remain so over the next few
years. The deployment of monolithic integration is expected to rise
substantially over the next few years. According to TMR analysts, the
monolithic integration segment will exhibit a 26.5% CAGR between 2015
and 2022. Monolithic integration renders better efficiency in large-
and medium-scale PICs, which explains why more companies will
increasingly look toward monolithic integration technique for PICs.
From
the standpoint of raw materials used in photonic ICs,
silicon-on-insulator and indium phosphide were the most widely used
raw materials for manufacturing photonic ICs. The two raw material
segments generated 60.9% revenue of the global photonic IC market as
of 2013. The use of indium phosphide as a substrate is driven by its
ability to efficiently integrate both passive and active components
within a photonic integrated circuit.
About
Us
Transparency
Market Research (TMR) is a global market intelligence company
providing business information reports and services. The company’s
exclusive blend of quantitative forecasting and trend analysis
provides forward-looking insight for thousands of decision makers.
TMR’s experienced team of analysts, researchers, and consultants
use proprietary data sources and various tools and techniques to
gather and analyze information.
TMR’s
data repository is continuously updated and revised by a team of
research experts so that it always reflects the latest trends and
information. With extensive research and analysis capabilities,
Transparency Market Research employs rigorous primary and secondary
research techniques to develop distinctive data sets and research
material for business reports.
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