Photonic Integrated Circuit (Ic) Market Insights, Analysis and Segment Forecasts to 2024: Hexa Reports

Hexa Reports

Market Research Reports and Insightful Company Profiles

Photonic Integrated Circuit (IC) Market Analysis, Share and

Size, Emerging Trends, Growth, Overview And Segment

Forecasts To 2024

The photonic IC market is expected to reach USD 3.54 billion by 2024 according to a new report by

Grand View Research, Inc. Photonic IC is an integrated circuit that uses optical wavelength as an

information signal and provides multiple integrated photonic functions. Photonic IC, as such, is similar to

an electronic IC and can be a viable replacement for it as well as for the copper-based wired

transmission.

Photonic IC forms an integral part of lasers, optical amplifiers, modulators, and MUX/DEMUX

components, which are extensively used in the optical signal processing, optical communication,

biophotonics, and sensing applications. The growing demand for sensing and optical devices are

expected to fuel the growth of the photonic IC market.

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There is an increasing need for cost effective, power efficient, and compact PICs which would further

propel the photonic IC market over the forecast period across the mobile broadband Internet access,

high-performance computing, datacenter, and enterprise networking, along with metro and long haul

data communications, among many others. The increasing adoption of the high-level integrated PICs

and application-specific PICs would boost the photonic IC market to strive for greater functionality and

new product development across a number of verticals.

Hexa Reports

Market Research Reports and Insightful Company Profiles

The photonic IC market is anticipated to grow substantially due to the continuous technological

advancements and the evolving end-user demands. The laser, optical amplifier, and MUX/DEMUX

component segments possess enormous growing opportunities, owing to the ability of photonic ICs to

incorporate new optical...