TMR Projects Strong Growth for Photonic Integrated Circuits Market With a 23.0% CAGR, Thanks to Rising Demand from Telecommunications

TMR Projects Strong Growth for Photonic Integrated Circuits Market With a 23.0% CAGR, Thanks to Rising Demand from Telecommunications

PR Newswire

ALBANY, New York, March 3, 2020

ALBANY, New York, March 3, 2020 /PRNewswire/ -- Optics and photonics continue to make way for modernisation in electronic devices. The development of fiber optics has remained a key driver of growth in the development of this technology. Additionally, the fiber optics continues to make way for more speed, capacity, and accuracy for PICs with new solutions. TMR study promises to key insights in the penetration and advancements in the fiber optics in PICs.

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According to TMR analysts, "The demand from indium phosphide-based PICs continues to grow, and is a prominent development on the radar for large players operating the in the PIC market. Additionally, the key opportunity for players in the Photonic Integrated Circuits (ICs) Market lies in the development of autonomous vehicle, which continue to promise robust research, and development opportunities. Being a first-mover in the next-gen automobile sector will be a key advantage for players in the Photonic Integrated Circuits market."

Key Findings in the Photonic Integrated Circuits Market Study:

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Explore a report with detailed research, incisive insights, and in-depth country levels estimations. Gain business intelligence on Photonic Integrated Circuits (PIC) Market (Integration Type: Monolithic Integration, Hybrid Integration, and Module Integration; Raw Material: Indium Phosphide, Gallium Arsenide, Lithium Niobate, Silicon, Silicon-on-Insulator, and Others; Component: Lasers, Modulators, Detectors, Attenuators, Multiplexers/De-multiplexers, and Optical Amplifiers; and Application: Optical Communication, Sensing, Optical Signal Processing, and Biophotonics) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027

Photonic Integrated Circuits Market: Region-wise Analysis

Rising demand for WAN applications promise a major growth in the North America region. the rising demand for communications, and heavy investments in the development of portable, and reliable sensor pave way for lucrative opportunities in the region, namely in the US. The rising demand for mobile communication, and growing reliance on entertainment through videos, and enterprise-based cloud services will be major avenues for growth in the PIC market in North America region. The region continues to witness opportune collaborations among competitors, thanks to large potential of growth, and rising demand for data services.

Photonic Integrated Circuits market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study.

Competitive Analysis:

The global photonic integrated circuits market is a competitive, and fragmented landscape. The landscape is home to several large, and established players who continue to demonstrate strong manufacturing capabilities. The competition will likely rise further in the future, as research and development activities continue to make a strong case for growth in communication, network, and information technology. Large number of suppliers in the PIC market have also witnessed reduction in their bargaining power, with an increased advantage for manufacturers. The growing demand for PICs during the forecast period, will likely provide more bargaining power to suppliers over the forecast period.

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