Photonic ICs Market: Market Overview
The Photonic ICs are also known as integrated optoelectronics devices or planer light wave circuits. The rising need for the high transmission capacity of the optical fibers is the primary parameter responsible for the popularity of the photonic ICs in the industry applications. The data generated at the organizational operations is increasing day by day with the globalization of the businesses, with the deployment of photonic ICs in the systems the operations speed of a large amount of data is increasing drastically. The photonic ICs are formed using the integration of the variety of material systems which includes electro-optic crystals such as silica on silicon, lithium niobate, Silicon on insulator, semiconductor and various polymers materials. These are used to make semiconductor lasers such as GaAs and InP. The demand for the Photonic ICs is rising day by day with the increasing request of the compact hardware solutions in the circuits. The Photonic ICs are widely used by the manufacturers as well as system designers to combine the various electronic components such as electronic components, optical amplifiers, multiplexers, lasers, modulators, etc. The Photonic ICs are easily leading to the size reduction of the components and reduction in the cost of the products.
Photonic ICs Market: Drivers and Restraints
The fact that with the deployment of the Photonic ICs is resulting in the compact size of the equipment and cost reduction this factor is the prime factor responsible for the growth of the global market for the Photonic ICs. The manufacturers and users both are mostly focused on the price factor and the photonic ICs helps in cost reduction for both is contributing to the increasing popularity of the photonic ICs.
The photonic integrated circuits are one of the major components responsible for the increased optical performance and reliability. The Photonic ICs also results in the less power consumptions by devices. On the other hand, the lack of awareness about the photonic ICs is one of the major restraining factors for the growth of the global Photonic ICs market.
Global Photonic ICs Market: Market Segmentation
Global Photonic ICs Market can be divided into three segments, based on raw materials used, components, and applications.
Segmentation on basis of raw material used in Photonic ICs market:
The segments in Photonic ICs market by raw material used include:
- Indium Phosphide
- Gallium Arsenide
- Lithium Niobate
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Segmentation on basis of Components for Photonic ICs Market:
The major segments of Photonic ICs market on basis of components include:
- Optical Amplifiers
Segmentation on basis of Applications of Photonic ICs Market:
The major segments of Photonic ICs market on basis of application include:
- Quantum computing
- Optical Signal Processing
- Optical Communication
Global Photonic ICs: Regional Outlook
The global Photonic ICs market is divided into seven regions as North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Japan, and Middle East and Africa. Among the given regions, North America is dominating the global market for Photonic ICs due to the higher presence of Photonic ICs vendors as well as users in this region followed by Western Europe, Eastern. The developing regions such as APEJ and Japan are predicted to grow at the highest CAGR owing to the rapid industrialization and technological adaptation in developing countries present in this region such as India and China. These countries are more focused on reducing the manufacturing cost of the electronic equipment as well as developing products at lower cost for the customers. The photonic ICs market in MEA region is expected to grow at moderate CAGR.
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Global Photonic ICs: Competitive Landscape
Some of the key vendors of the Photonic ICs includes APIC Corporation, Infinera Corporation, NeoPhotonics Corporations, PhotonIC Corporation, etc. These players are consistently focused on developing new and advanced ICs for improvising the applications portfolio.