Highlights:
- Multi-dimensional growth in telecommunications, electronics sectors, at the core of which is photonic integrated circuits translates into robust demand.
- Copious Use of voice recognition, facial recognition technologies in retail, banking, and smart home for value-added service indirectly widens expanse of photonic integrated circuits market.
Photonic Integrated Circuits Market – Overview
The inception of photonic integrated circuits may have been accidental, but the progress in photonics is opening the opportunity to replace electronic integrated circuits (ICs) to take devices to the next level. So much so, photonic integrated circuits evince the ‘more than Moore’ phenomenon in a bid to increase capacity and speed of data transmission for numerous applications.
At its basic, photonic integrated circuits (PICs) use a laser source to inject light to provide thrust to the components, akin to injecting electricity to drive an electronic or electrical component. For PICs, the use of light in place of electricity provides a solution for the limitations of electronics such as heat generation and integration. Furthermore, PICs offer advantages such as higher speed, miniaturization, low thermal effects, large integration capacity, and compatibility with existing flows of processes that allows for high yield, volume manufacturing, and lower prices. Applications of photonic integrated technology are broad – from data communications and sensing to automotive and astronomy. Currently, the primary application for PICs is for fiber-optic communications, though applications biomedical and photonic computing are also on the cards.
Meanwhile, electronic product designers are keen on taking additional challenges to learn usability of integrated photonics, and continue to undertake feasibility studies to examine if the technology is promising for a solution. Such pursuits receive support from PIC consortia, design houses, and even some universities in the world, which has led to the evolution of a billion dollar photonic integrated circuits market. With the promise of continued applications in high value business sectors, the photonic integrated circuits market is estimated to be exceed a valuation of US$ 7.6 Bn by 2031.
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Photonic Integrated Circuits Market – Key Findings of the Report
Amidst COVID-19, Continued Need for Effective Testing Devices opens Unknown Opportunities
While the ravage of COVID-19 is slowly subsiding in many parts of the world, the devastation from the pandemic continues in some countries such as India. The development of effective testing tools that can reduce the burden of healthcare workers is the need of the hour. This has attracted companies in the PIC market to develop point-of-care testing devices based on photonic integrated technology, thereby creating short-term, yet unknown opportunities in the photonic integrated circuits market.
Investments from Venture Capital Funds in Semicon Foundries adds new Dimension of Growth
In recent years, companies in the PIC market are witnessing attractive investments from venture capital funds. For example, Netherlands-based Smart Photonics – a PIC wafer foundry is receiving funding from Amsterdam’s venture capital fund Innovation Industries with €35 Mn funding in series C. With such investments, companies are planning to roll out innovations in indium phosphide (InP) epiwafers to serve increasing demand from European, Asian, and the U.S. customers. The funding is also helping players in the photonic integrated circuits market to automate assembly lines for developing PIC devices.
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Heterogeneous Integration, Innovations in Production Line to offset Concerns of High Assembly Costs of PIC Devices
The high assembly cost, which includes electrical and optical packaging accounts for more than 50% cost of PIC devices is a challenging the growth of PIC market. To offset this, innovation centers such as Chip Integration Technology Center are ramping up efforts to collaborate with other stakeholders in a bid to facilitate heterogeneous integration and advanced packaging of PIC devices. This is anticipated to spell growth in the photonic integrated circuits market, in return.
Besides this, efforts for innovations in the production line of photonic integrated circuits is expanding growth vistas in the PIC market.
Photonic Integrated Circuits Market – Growth Drivers
- The multi-dimensional advancement is the telecommunications and electronics sectors that use a host of embedded systems, IoT devices, and connected devices based on optical signal processing technique that use photonic integrated circuits at the core provides deluge of opportunities.
- The tremendous uptake of voice recognition and face recognition technologies in retail, banking, and for smart home, which at the core use photonic integrated circuits underscores growth.
Photonic Integrated Circuits Market – Key Players
- Agilent Technologies
- Ciena Corporation
- Hewlett Packard
- Infinera Corporation
- Broadex Technologies Co. Ltd.
- MACOM
- NeoPhotonics Corporation
- TE Connectivity
- VLC Photonics S.L.
- Broadcom
- Enablence
- Huawei Technologies Co. Ltd.
- Intel Corporation
- Cisco Systems Inc.
- Mellanox Technologies
- Oclaro Inc.
- Uniphase Inc.
- II-VI Inc.
