Photonic Integrated Circuits (PIC) Market Size, Share, Growth Analysis, Forecast Report 2032

Photonic Integrated Circuits (PIC) Market Insights

According to Zion Market Research, the global Photonic Integrated Circuits (PIC) Market was worth USD 12.72 Billion in 2023. The market is forecast to reach USD 60.29 Billion by 2032, growing at a compound annual growth rate (CAGR) of 18.87% during the forecast period 2024-2032. The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Photonic Integrated Circuits (PIC) industry over the next decade.

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The study inculcates sales forecast & analysis of the Photonic Integrated Circuits (PIC) market on a global as well as regional level.  It also offers historical data of 2018-2023. It also provides an assessment of the industry expansion during 2024-2032 in terms of USD Million. Our report includes competitive strategies adopted by the key industry players depending on the outline provided by the Porter’s Five Forces Model impacting the industry.

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Global Photonic Integrated Circuits (PIC) Market: Segmentation

The study provides a decisive view of the photonic integrated circuits (PIC) market by segmenting the market based on by integration type, by raw material, by component, by application, and by region. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

Recent types of LIDAR finding numerous applications in the autonomous vehicles help the latter in scanning the environment around it and make use of photonic integrated circuits to achieve its objectives. Apart from this, PICs are extensively utilized in data centers and telecommunications industries. Moreover, careful cost management techniques adopted by the key players in strong economic period and strong cost management methods by the participants during economic downturn will impact the industry value over the forecast period.

Based on the integration type, the Photonic Integrated Circuits (PIC) industry is sectored into Monolithic Integration, Module Integration, and Hybrid Integration.

On the basis of raw material, the market is divided into Indium Phosphide, Lithium Niobate, Gallium Arsenide, Silicon-on-Insulator, and Others.

In terms of component, the industry is classified into Lasers, Optical Amplifiers, Modulators, Multiplexers/De-Multiplexers, Attenuators, and Detectors. Application-wise, the market is divided into Optical Communication, Biophotonics, Optical Signal Processing, and Sensing.

The regional segment includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Photonic Integrated Circuits (PIC) Market: Report Scope

The report encompasses a comprehensive PESTEL and SWOT Analysis that assesses the factors influencing the performance of each market player in the present situation and over the forecast period. It also offers deep & extensive insights into the competitive moves by the mammoth industry players for acquiring a competitive edge as well as a leading position in the market.

Some of the leading players in the global market include:

• Infinera Corporation
• Finisar Corporation
• Intel Corporation
• Huawei Technologies Company Limited
• Ciena Corporation

This report segments the Photonic Integrated Circuits (PIC) market as follows:

By Integration Type Segment Analysis

• Monolithic Integration
• Module Integration
• Hybrid Integration

By Raw Material Segment Analysis

• Indium Phosphide
• Lithium Niobate
• Gallium Arsenide
• Silicon-on-Insulator
• Others

By Component Segment Analysis

• Lasers
• Optical Amplifiers
• Modulators
• Multiplexers/De-Multiplexers
• Attenuators
• Detectors

By Application Segment Analysis

• Optical Communication
• Biophotonics
• Optical Signal Processing
• Sensing

By Regional Segment Analysis

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa