Worldwide Demand for Photonic IC Market Has Predicted to Grow at an Impressive Revenue Growth up to US$ 17,075.67 Mn by 2027

 

Photonic IC Market

A Photonic Integrated Circuit (IC), also known as an integrated optical circuit, is a device that, like an electrical integrated circuit, incorporates numerous photonic operations. The primary distinction between electrical integrated circuits and photonic integrated circuits is the type of raw material employed in their manufacture. Silicon is the primary and most dominating material utilised for manufacture in electronic ICs, but the kind of material used in PICs is mostly determined by the device's function/purpose. The most frequent raw materials utilised for manufacturing are indium phosphide, gallium arsenide, silicon on silicon, and silicon on insulator.

Multiple photonic components, such as waveguides, lasers, modulators, and detectors, are referred to as photonic ICs when they are combined on a single chip. Photonic ICs are incredibly quick, have larger bandwidth, and are exceptionally power efficient when compared to regular ICs. These improvements have addressed some of the most serious flaws in conventional ICs. The power consumption in such essential applications might be decreased by at least half using photonic ICs. Photon frequencies are 1,000-10,000 times higher than the spectrum covered by microelectronics, suggesting that end users may reach significantly higher frequencies that are far more energy-efficient than traditional ICs by adopting photonic ICs.

According to Coherent Market Insights, The global Photonic IC Market was valued at US$ 996.1 Mn in 2019 and is forecast to reach a value of US$ 17,075.6 Mn by 2027 at a CAGR of 42.6% between 2020 and 2027.

This low-cost photonic hardware, which is made using a hybrid or monolithic process, is in high demand from end-user applications, such as data centres, which are rising in capacity year after year as a result of data-driven ecosystems. In addition, numerous market companies are working on PIC-led active advancements to assist handle the surge in data/network traffic, which has been worsened by reactions to the COVID-19 epidemic, notably within data centres. Despite the fact that hybrid photonic integrated circuits are more efficient and offer various benefits over their predecessors/conventional ICs, they have a far lower market penetration than traditional ICs.

Major companies operating in the global photonic IC market are Agilent Technologies, Inc., Intel Corporation, Aifotec AG, Infinera Corporation, Alcatel-Lucent, Hewlett Packard, Avago Technologies Finisar Corporation, Ciena Corporation, Enablence Technologies Inc., and Emcore Corporation.

Photonic IC Market Growth Factors-

Photonic integrated circuits (ICs) have emerged as a viable choice for high-performance, compact, and cost-effective optical systems utilised in a wide range of applications. PICs, particularly those manufactured of Indium Phosphide (InP), assist designers and manufacturers in combining optical devices such as multiplexers, modulators, lasers, and other components into a single package. As a result, the whole system is both small and cost-effective. Furthermore, packaging reduction reduces expenses associated with individual component testing. Miniaturization, in the form of combining several devices onto a single platform, results in considerable cost savings. As a result, these factors are projected to propel the worldwide photonic integrated circuit market forward over the forecast period.

Moore's law's rise in functionality is best realised by employing Indium Phosphide as a photonic integration substrate. This is largely due to its ability to facilitate the inclusion of nearly all functionalities required in ICT applications. In addition, waveguide, phase shifter, amplifier detector, and polarisation converter building pieces are offered for Indium Phosphide and SOI platforms. These components may be used to make a variety of devices, giving optical designers the opportunity to develop practically any optical system.