Published On : 01 Oct 2018
A photonic integrated circuit (PIC) or an integrated optical circuit is a device that integrates multiple photonic functions and is similar to an electronic integrated circuit. The major difference between the two is that a photonic integrated circuit provides functions for information signals imposed on optical wavelengths typically in the visible spectrum or near infrared 850 nm-1650 nm.
Widespread advancements occurring in the field of electronics is majorly driving growth in the global photonics integrated circuit (IC) market. Photonic integration helps miniaturization of optical systems, thus extending their scope as well as reducing manufacturing costs. This is a key advantage associated with photonic integrated circuits, consequently driving the global photonics integrated circuit (IC) market to gain splendid growth. Moreover, with a rising demand for photonic circuits expected to occur in the near future, the market is anticipated to further expand at a fantastic growth rate during the upcoming years. Many companies have invested huge sums of money in this market, in order to carry out extensive research and development for manufacturing high quality photonic ICs. This factor too has notably contributed towards the global photonics integrated circuit (IC) market’s progress.
However, the international photonic integrated circuit (IC) market could bear the brunt of inadequate digitalization in some regions leading to decreased usability of certain products. Although photonics is said to be in an analog stage, its digital format finds applications in electronics with the use of analog transistors. Digitalization could be extremely crucial for the market since a higher integration level is enabled with the engagement of digital photonics. Furthermore, application of photonic ICs might be limited due to the complex designing of circuits. However, increased demand for hybrid integration and growing application in optical communication are predicted to produce lucrative opportunities in the global photonic integrated circuit (IC) market.
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The global photonics integrated circuit (IC) market depicts the presence of a highly competitive landscape owing to the presence of numerous players. With the number of companies expected to increase in the near future, the competition is projected to further intensity. Most companies are focusing on bringing forth product differentiation, improving product quality, and expanding their geographical reach as key strategies to garner more revenue. Hewlett-Packard Company, NeoPhotonics Corporation, Hamamatsu Photonics K.K., IBM, Broadcom, Ciena Corporation, Viavi Solutions, Innolume GmbH, 3S Photonics S.A.S, and Infinera, are key players operating in the global photonics integrated circuit (IC) market.
Geographically speaking, the market is spread across North America, South America, Asia Pacific, the Middle East and Africa, and Europe. Of these, North America holds a leading position in the market owing to a strong technological infrastructure and adoption of important practices by renowned players to grow in the industry. Asia Pacific too is poised to depict a splendid growth in the near future.
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