According to a new market report published by Transparency Market Research “Photonic IC Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2022,” the photonic ic market was valued at US$0.19 bn in 2013, and is expected to reach US$1.3 bn by 2022, expanding at a CAGR of 25.3% from 2015 to 2022.
Browse the full Photonic IC (Hybrid Integration, Monolithic Integration, and Module Integration) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 – 2022 report at http://www.transparencymarketresearch.com/photonic-integrated-circuit.html
Cost and size reduction achieved by integrating different optical components, including detectors, modulators, and lasers, into a single distinct package is the major factor driving the photonic IC market. In addition, benefits offered in terms of efficiency, transfer speed, transmission capacity, and power consumption have ensured market penetration into varied end-use verticals such as metrology, aerospace and defense, healthcare, telecommunication, industrial, and data communication. Lack of digitization, coupled with design and packaging challenges related with the photonic integration, have inhibited the swift growth of photonic ICs. Commercialization of quantum computing (expected by 2018) is predicted to offer tremendous growth opportunities for the photonic IC market.
Three integration techniques deployed in photonic ICs include hybrid integration, monolithic integration, and module integration. Hybrid integration was the major integration technique used for photonic integration, accounting for 56.8% of the global market revenue in 2013. Although it is expected to remain the major integration technique over the forecast period, monolithic integration is expected to exhibit the maximum growth, growing at a CAGR of 26.5% during 2015–2022. On the other hand, the module integration technique is expected to witness a fall in the...