Before photonic technology came into existence, electronic integrated circuits which used electrons as data carriers, were used in the electronics and communication industry.. With the data center market and number of users growing, the demand for transferring bulk amounts of data at high speed has increased, which cannot be met by electronic integrated circuits. Post a great deal of research, scientists have developed Photonic Integrated Circuit (PIC), which utilizes photons as data carriers. Photons travel at the speed of light which is considerably greater than the speed of electrons. This feature facilitated PICs to transfer large amounts of data at high speeds, which fuelled its market growth. PICs can integrate a high number of components on a single chip, thereby opening the door for development of compact and small equipment. Other advantages pertaining to the use of PICs are low power consumption, reliability, lower heat dissipation, increased efficiency and minimal cost of production. The abovmentioned factors are propelling demand for the photonic integrated circuit market, as per the newly compiled market research report from IndustryARC. The report has valued the global photonic integrated circuit market at $785 million as of 2018. Furthermore, the demand is anticipated to increase at an outstanding CAGR of 28.91% during the forecast period of 2019 to 2025.
The report by IndustryARC titled, “Photonic Integrated Circuit (IC) & Quantum computing Market: By Integration (Hybrid, Monolithic & Module); By Component (Laser, Modulator, Photo Detectors, Attenuators & Optical Amplifiers); By Raw Materials & By Application - Forecast(2018 - 2023)”, gives a significant analysis of the prominent aspects of the market including market drivers, market value chain, restraints, growth indicators, market trends, challenges, future outlook, and market insights.
Photonic Integrated Circuit (IC) & Quantum computing Market: Leading Segments
North America held the largest share of the market with 43.81% of the total demand in 2018. Government support, increasing demand for hybrid integration technology, rising amount of data transfer, lucrative advantages offered by PICs, and technological advancements are some of the key factors that have brought forth maximum demand from North America in the photonic integrated circuit market.
Photonic integrated circuits find application in optical fiber communication, healthcare, quantum computing, quantum communication, quantum simulation and quantum metrology. Some prominent products utilizing PICs are semiconductor lasers, optical amplifiers, optical modulators, filters, lasers, detectors, and optical fiber sensors. Quantum computing excels over traditional computing owing to the faster speed of computing and factors such as increased efficiency, multi-tasking, and a high level of integration. With growing technological advancements in the quantum computing market, procurement of PICs are increasing. Resultantly, key market players have capitalized on this application segment which is anticipated to grow at an outstanding CAGR of 39.11% through to 2025.
Photonic Integrated Circuit (IC) & Quantum computing Market Disruptive Trends
v Quantum dot lasers are disrupting the PIC market. Through use of this technology, the energy consumed by the current PICs can be decreased significantly.
v Silicon-based PICs are gaining momentum in the present market. The fabrication process is comparably easier and a greater number of functions and components can be integrated on a single chip.
v Ultra-high-speed 3D PICs are seeing growing demand due to their increased bandwidth, low heat dissipation, higher speed, and low power consumption with minimal cost.
v In the near future, 5G internet will come into existence. This will increase the speed and the amount of data to be transferred, eventually driving the demand for PICs owing to their high-speed data transfer capability.
v With the increasing number of users, data centers are relying hugely on optical transmission technologies. This, in turn, is increasing the trend for onboard PICs, and reflecting a positive impact on the photonic integrated circuit market.
Photonic Integrated Circuit (IC) & Quantum computing Market: Competitive Landscape
The “Global Photonic Integrated Circuit (IC) and Quantum Computing” market report features prominent companies which hold majority shares including Agilent Technologies, Ciena, HP, Hamamatsu Photonics, IBM, 3S Photonics, Infera, Viavi, Broadcom, Aofptec, Alcatel-Lucent, and Neophotonics.
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8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
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