Photonic Integrated Circuit Market 2022 Size, Top Key Players, Latest Trends, Regional Insights and Global Industry Dynamics 2032

 The Future Market Insights recently released an analysis report on the photonic integrated circuit market as it exhibited global sales of US$ 1.1 Bn in 2021. With 21.5% projected growth, the market during 2022 – 2032 is expected to reach a valuation of US$ 9.4 Bn.

According to the photonic integrated circuits (PIC) market research by FMI, the market is expected to be the highest revenue-generating category, estimated to register a projected CAGR of 21.5% during 2022 – 2032.

According to the estimations by Future Market Insights, leading market research and competitive intelligence provider, the photonic integrated circuits (PIC) market increased at a robust CAGR of 25.5% from the year 2017-2021.

Key Insights

The photonic integrated circuit market is downsizing gadgets and increasing the level of integration. Such circuits support high-speed data transfer, which in return is suitable for a wide range of applications in several sectors including industrial, aerospace, communications, utilities, and energy. Attributing to these factors, the photonic integrated circuit market is expected to propel throughout the forecast period.

There is a high demand for photonic integrated circuits in quantum computing and optical fiber sensing applications. Photonic integrated circuit corporations provide advantages such as simple photonic integrated circuit design with reduced energy consumption, smaller and faster goods, and efficient and eco-friendly products.

In comparison to traditional ICs, photonic integrated circuits have lower costs due to downsizing, a smaller size due to merging many components and functions on a single chip, and enhanced power efficiency.

Sophisticated breakthroughs and innovations in the photonics and fiber optics market are accelerating its growth. The surging need for high-speed and efficient data transmission in data centers presents growth prospects to the market.

The rising demand for enhanced communication and processing needs to be combined well with flexible, downsized, and power-efficient circuits, which are factors that will drive the growth of the photonic integrated circuit industry.

More info@https://www.futuremarketinsights.com/reports/photonic-integrated-circuit-market


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