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.
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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.
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.
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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.
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Press Release Photonic Integrated Circuit (IC) Market
http://www.transparencymarketresearch.com/pressrelease/photonic-integrated-circuit.htm
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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