Photonic Ics Market

A photonic integrated circuit (PIC), as the name suggests, makes use of photons to carry data, as opposed to electronics that make use of electrons to do the same. A PIC essentially integrates two or more photonic functions to form an integrated optical circuit. Photons, with their attribute of traveling at the speed of light, have made the development of highly sophisticated optical chips a reality by improving the speed of data transfer. With a never-ending demand for high data speeds and the subsequent investments by companies to cater to this need, the global photonic IC market is expected to benefit immensely.

Putting this growth into numbers, Transparency Market Research, a market intelligence and consulting firm, predicts that the global photonic IC market will touch US$1.3 bn by the end of 2022, rising at a CAGR of 25.3% from 2015 through 2022. In 2013, the global photonic IC market was valued at US$0.19 bn.

Cost and Size Reduction of Photonic ICs Gives Market Head Start

The integration of various optical components such as lasers, modulators, and detectors into a single, multi-functional component has proven to be a launch pad for the global photonic IC market. Moreover, other desirable qualities of photonic ICs—such as better transmission capacities and speed, lower power consumption, and higher efficiency—have helped their adoption rates soar.

Photonic ICs have thus become commonplace in a myriad of industry verticals such as aerospace and defense, telecommunication, metrology, and healthcare. With new technological advancements reported in the global photonic ICs market, growth is a certain. Quantum computing, which is expected to be commercialized by 2018, will generate massive demand for photonic ICs. Quantum computing will mark a new breakthrough in processing power speeds, and this could be the biggest opportunity yet for companies in the photonic ICs market.

That having been said, design issues continue to be a matter of...