Photonic Integrated Circuit Market, By Integration (Monolithic Integration, Hybrid Integration, and Module Integration), By Raw Material (Gallium Arsenide, Indium Phosphide, Silica On Silicon, Silicon On Insulator, and Lithium Niobate), By Application (Optical Fiber Communication, Optical Fiber Sensors, Biomedical, and Quantum Computing), and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) - Trends, Analysis, and Forecast till 2034

Photonic Integrated Circuit Market was valued at US$ 15.1 Billion in 2024 and is projected to grow at a CAGR of 20.10% to reach US$ 94.5 Billion by 2034.

A photonic integrated circuit, which is comparable to an integrated electronic circuit, is made up of photonic sensors and electronic components that operate and carry out operations using lights or photons. High-speed photons rather than slow electrons are used as data carriers in these PIC circuits. This capability allows the PIC-included devices to transfer enormous amounts of data quickly and effectively, which is why users like this technology. PIC circuits are used in many different applications, including silicon-based technologies, nanoelectronics, calorimetry, and lidars. A PIC processes signals by integrating visible and infrared wavelengths between 800nm and 1700nm during operation. The photonic sensors were crucial in the PIC's translation of light impulses into electric form.

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The photonic integrated circuit market is expanding as a result of the growing use of photonic integrated circuits in data transmission, high-speed computing, internet connections, and telecommunication networks. The market for photonic integrated circuits is expanding due to rising demand for high bandwidth transmitting devices. Furthermore, the ability of PICs solutions to transmit effectively via low-loss optical fibres and their versatile photonic platforms are intrinsically remarkable characteristics that are fostering the expansion of their target markets. Some aspects that are anticipated to generate lucrative prospects for companies in the photonic integrated circuit market include rising demand for hybrid integration and growing applications in optical communication.

The Photonic Integrated Circuit Market is segmented based on integration, raw material, application, and region.

On the basis of integration, the Photonic Integrated Circuit Market is segmented into Monolithic Integration, Hybrid Integration, and Module Integration. On the basis of raw material the Photonic Integrated Circuit Market is segmented into Gallium Arsenide, Indium Phosphide, Silica On Silicon, Silicon On Insulator, and Lithium Niobate. On the basis of application, the Photonic Integrated Circuit Market is segmented into Optical Fiber Communication, Optical Fiber Sensors, Biomedical, and Quantum Computing.

Regional Insights:

On region the Photonic Integrated Circuit MarketMarket is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The photonic integrated circuit market was dominated by the North American photonic integrated circuit market in terms of revenue, and this dominance is expected to continue over the coming years. This is due to the North American countries' early embrace of advanced technology and presence of advanced IT and telecommunications infrastructure. In 2018, the photonic integrated circuit market in Europe held the second-largest market share. The market for photonic integrated circuits in the Asia Pacific is anticipated to expand at the fastest rate during the forecast period, which ends in 2018, as a result of rising demand from the region's burgeoning information technology sector.

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the Photonic Integrated Circuit MarketMarket report based on device, contain, deployment and region:

Photonic Integrated Circuit Market, By Integration 

• Monolithic Integration
• Hybrid Integration
• Module Integration

Photonic Integrated Circuit Market, By Raw Material

• Gallium Arsenide
• Indium Phosphide
• Silica On Silicon
• Silicon On Insulator
• Lithium Niobate

Photonic Integrated Circuit Market, By Application

• Optical Fiber Communication
• Optical Fiber Sensors
• Biomedical
• Quantum Computing

Photonic Integrated Circuit Market, By Region:

• North America
  • Middle East & Africa
    • • GCC
      • Israel
      • South Africa
      • Rest of Middle East & Africa
  • Latin America
    • • Brazil
      • Mexico
      • Rest of Latin America
  • Asia Pacific
    • • China
      • India
      • Japan
      • South Korea
      • Rest of Asia Pacific
  • Europe
    • • Germany
      • UK
      • France
      • Russia
      • Italy
      • Rest of Europe
  • • U.S.
    • Canada

The key players operating the Photonic Integrated Circuit Market includes Infinera Corporation, NeoPhotonics Corporation, Huawei Technologies Co., Ltd., OneChip Photonics Inc., Finisar Corporation, Intel Corporation, Broadcom Inc., Luxtera, Inc., Oclaro Inc., VIAVI Solutions Inc., and Ciena Corporation.

Prominent players operating in the target market are focusing on the strategic partnerships as well as launching of the products in order to gain competitive edge in the target market. For instance, in August2022, Telstra touts proposed restructures ‘transparency’ and ‘flexibility’, in its newly released plan brochure, Telstra said the restructuring would create better transparency of its assets across its customer and infrastructure businesses, which would "allow management to increase efficiency and effectiveness".

• Infinera Corporation *
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• NeoPhotonics Corporation
• Huawei Technologies Co., Ltd.
• OneChip Photonics Inc
• Finisar Corporation
• Intel Corporation
• Broadcom Inc.
• Luxtera, Inc.
• Oclaro Inc.
• VIAVI Solutions Inc.
• Ciena Corporation