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Photonic IC Market Will Surpass $41,038 Million Revenue by 2030, says P&S Intelligence

NEW YORK, July 27, 2022 /PRNewswire/ -- According to the market research report published by P&S Intelligence, the revenue of the photonic integrated circuit market was around $7,640 million in the year 2021, and it will rise to about $41,038 million by 2030, with a mammoth growth rate of over 20% during 2021–2030. The widespread requirement for these components from biomedical, telecommunications, and data center facilities, increasing disposition toward self-driving vehicles, swift mechanization in various industries, and contraction of electronic devices are helping the market grow.

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Data centers will witness the fastest growth, at a CAGR of about 21%, in the years to come. This will be because the advent of cloud interconnection facilities, video streaming, and 5G mobile networks are driving the building of data centers on a massive scale around the world.

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The monolithic process had the larger share in the photonic integrated circuit market in 2021. This is because photonic ICs are embedded via the monolithic procedure in a variety of active and passive optical devices formed from a single material, thus eliminating the adaptation problems among numerous materials.

Furthermore, the adoption of numerous monolithic photonics platforms in innovative CMOS technologies for futuristic integrated systems and the commercialization of this procedure will widen the scope for monolithic integration.

The share of the photonic integrated circuit market in North America was the largest, at around 45%, in 2021, due to the widespread use of WAN for data centers and fiber-optic communications. Moreover, the increasing requirement for high-speed data transmission surges the load on cloud computing networks, which, in conjunction with the swift rollout of IoT, has driven the usage of photonic ICs in the region.

Europe followed North America, in terms of share, in the year 2021, primarily because of the increasing count of data centers in the region. Around 450 date centers were situated in Germany, approximately 420 in the U.K., and nearly 250 in the Netherlands in 2021.

The industry in APAC will grow at the highest rate in the coming years due to the increasing acceptance of electric and autonomous vehicles in Japan, China, India, and South Korea. An EV can have 10,000 electronic components, which means a huge demand for ICs.

Additionally, the increasing use of the internet, obtainability of 5G connectivity, and development of advanced factory automation technologies will help the industry grow. For example, India consumed approximately 300 Petabytes of data on a daily average from March 22, 2020.

Browse detailed report on  Photonic Integrated Circuit Market Size, Share, Growth and Demand Forecast Report 2030

The III–V material had an about 82% share in the photonic integrated circuit market in 2021. This is because of the progressing technology of 3D depth sensing in automotive lighting, consumer electronics, LiDAR, IR LED, and horticultural lighting.

Moreover, the silica-on-silicon category has the second-largest size owing to the low production and operational expenses associated with photonic integrated circuits made from this material. Furthermore, such apparatuses can be easily embedded into electronic instruments, thus creating a huge prospect for companies that supply this platform.

Photonic Integrated Circuit Market Report Coverage

By Raw Material

  • III–V Material
  • Lithium Niobate
  • Silica-on-Silicon

By Integration Process

  • Hybrid
  • Monolithic

By Application

  • Telecommunications
  • Biomedical
  • Data Centers

Regional Analysis

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Spain
    • Italy
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
  • Latin America
    • Brazil
    • Mexico
  • Middle East and Africa
    • Saudi Arabia
    • South Africa

Browse More Reports Published by P&S

Photonics Market Size Analysis and Growth Forecast to 2030

Data Center Market Size Analysis and Growth Forecast to 2030

About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

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