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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Photonic Integrated Circuits (PIC) Market Size
The global photonic integrated circuits (PIC) market reached a value of nearly USD 21,150 million in 2023. The market is projected to grow at a CAGR of 20.3% between 2024 and 2032 to reach around USD 113,984 million by 2032.
Key Takeaways
- The market for photonic integrated circuits is being driven by its increasing application in various end-use sectors, including data and telecommunications, medical and healthcare, engineering and transport.
- Infinera Corporation, Coherent Corp. (II-VI Incorporated), and Intel Corporation are some of the major companies in the market.
- Use of the internet has grown rapidly across the globe, reaching about 91% of the population in North America, 87% in Europe and 73% in Asia Pacific.
An integrated photonic circuit (PIC) or optical circuit is a system that incorporates several photonic functions and is similar to an integrated electronic circuit. Integrated photonics has vast potential in the automotive sector, including vehicle and system design. LiDAR sensors in autonomous vehicles play a pivotal role in generating a 3D map of the vehicle’s surroundings, serving as a preventive measure against collisions.
Some of the factors driving the photonic integrated circuits (PIC) market growth are the rising smartphone-based applications and the growing need for more digital infrastructure from cloud service providers, hyper scalers, and over-the-top media companies. The increasing use of data is necessitating the need for more energy-efficient ways to increase the speed and capacity of data networks.
Photonic Integrated Circuits (PIC) Market Report Snapshots
Photonic Integrated Circuits (PIC) Market Size
Photonic Integrated Circuits (PIC) Market Trends
Photonic Integrated Circuits (PIC) Companies
Photonic Integrated Circuits (PIC) Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market value was nearly USD 21,150 million.
The global market is projected to grow at a CAGR of 20.3% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach around USD 113,984 million by 2032.
The major market drivers include increasing application of PIC in various end use sectors, increasing adoption of 5G technology, and expanding data centres.
The key trends include the rising telecommunication network traffic and growing demand for data centres that require higher speed, increased bandwidth, and peak data rates.
The different integration types of PIC include monolithic integration and hybrid integration.
The major raw materials used in PIC include III-V material, lithium niobate, silica-on-silicon, and silicon-on-insulator, among others.
The major players in the market include Infinera Corporation, Coherent Corp. (II-VI Incorporated), Intel Corporation, Lumentum Holdings Inc., IBM Corporation, Cisco Systems, Inc., and STMicroelectronics N.V.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124