The global photonic integrated circuit (IC) market is prophesied in a report by Transparency Market Research (TMR) to witness a significantly high level of competition taking shape between top players, viz. Alcatel-Lucent S.A., Ciena Corp., Huawei Technologies Co. Ltd., and Infinera Corporation. In such a heated competitive scenario, new entrants could cash in on rewarding growth prospects birthed through strategic alliances and mergers and acquisitions. The market could expect the rise of niche offerings from new players. As the number of players operating in the market increases, the degree of competition is anticipated to simultaneously increase going forth.
By the completion of 2022, the global photonic IC market is foreseen to collect revenue worth a US$1.3 bn, according to TMR. In terms of application, optical communication could continue to lead the market, reaching a valuation of US$0.7 bn by the same year. By region, North America is foretold to gather pace while raking in a US$0.5 bn in the same year.
Manufacturers of optical systems use the platform provided via the introduction of photonic integration for miniaturizing the systems with a view to extend the scope of their application and also control manufacturing cost. The overall system could be made compact with the integration of optical devices into a single package through the use of photonic IC. Optical amplifiers, multiplexers, lasers, and modulators are few examples of optical devices that could be integrated.
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In the recent years, photonic IC has been largely employed by manufacturers due to reduced production cost of the devices as a result of the integration. Over the next few years, demand for photonic IC is projected to surge because of extensive usage in futuristic applications.
According to experienced researchers, the international photonic 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 at the analog stage, its digital format finds application 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 IC could be limited due to the complex designing of integrated circuits.