Global Photonic Integrated Circuit (PIC) Market to Reach $3.1 Billion by 2026
SAN FRANCISCO, June 29, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Photonic Integrated Circuit (PIC) - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 16; Released: April 2021
Executive Engagements: 4997
Companies: 61 - Players covered include Broadcom Inc.; Ciena Corporation; Enablence Technologies, Inc.; Infinera Corporation; Intel Corporation; Lumentum Operations LLC; NeoPhotonics Corporation; Nokia Networks and Others.
Coverage: All major geographies and key segments
Segments: Technique (Hybrid Integration, Monolithic Integration, Module Integration); Raw Material [Indium Phosphide (InP), Silicon-on-Insulator (SOI), Gallium Arsenide (GaAs), Silicon (Si), Other Raw Materials]; Application (Optical Communications, Optical Signal Processing, Other Applications)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; India; South Korea; Taiwan; Rest of Asia-Pacific; Latin America; Brazil; Mexico; Rest of Latin America; Rest of World.
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ABSTRACT-
Global Photonic Integrated Circuit (PIC) Market to Reach $3.1 Billion by 2026
Photonic Integrated Circuit (PIC), also referred to as integrated optical circuit or simply optical chip, is a semiconductor device that is designed to combine or integrate multiple optical elements on one single chip. A standard PIC can integrate multiple passive functions such as optical-optical; multiple active functions such as electrical-optical; and combinations of active and passive functions into a single package. For carrying the information in a communication network, PIC is reliant on photons, which are known to exhibit data transfer rates equivalent to speed of light, thus enabling much faster communication speeds than with conventional electronic ICs. PIC typically carries data signals imposed on optical wavelengths in the range between 850 nm and 1650 nm, in the visible spectrum or near infrared (IR). Amid the COVID-19 crisis, the global market for Photonic Integrated Circuit (PIC) estimated at US$889 Million in the year 2020, is projected to reach a revised size of US$3.1 Billion by 2026, growing at a CAGR of 22.7% over the analysis period. Hybrid Integration, one of the segments analyzed in the report, is projected to record a 22.1% CAGR and reach US$1.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Monolithic Integration segment is readjusted to a revised 24.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $425.1 Million in 2021, While China is Forecast to Reach $317.6 Million by 2026
The Photonic Integrated Circuit (PIC) market in the U.S. is estimated at US$425.1 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$317.6 Million by the year 2026 trailing a CAGR of 28.4% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 19.3% and 20.4% respectively over the analysis period.
The market is projected to register significant growth driven by the growing interest in the ability to exploit the properties of light to transmit information at speeds millions of times faster than either copper or laser, especially against the backdrop of the insatiable need for bandwidth and communication speeds. The growing opportunity in optical communications and improving investments post COVID-19, bodes well for the growth of PICs. While sustained high growth in the deployment and expansion of communication networks with fiber optic infrastructure is building strong momentum for PICs, increased use of fiber optics in signal transmission, sensing, and biophotonics is creating a highly conducive environment for growth and proliferation of PICs, on a wider scale. The dramatic growth in telecom and datacom verticals over the past 5-6 years driven by steep increase in the number of Internet users and ownership rates of IP-enabled devices, and subsequently growing investments on roll out of advanced communication networks such as 100G, 200G and 400G networks is infusing robust growth opportunities for PICs.
Module Integration Segment to Reach $554.2 Million by 2026
Global market for Module Integration (Technique) segment is estimated at US$172.8 Million in 2020, and is projected to reach US$554.2 Million by 2026 reflecting a compounded annual growth rate of 20.6% over the analysis period. The United States constitutes the largest regional market for Module Integration segment, accounting for 42.9% of the global sales in 2020. China is poised to register the fastest compounded annual growth rate of 26.3% over the analysis period, to reach US$54.4 Million by the close of the analysis period. More
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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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