How big is the Photonic Integrated Circuit Market?

The Photonic Integrated Circuit Market size is expected to reach USD 15.11 billion in 2024 and grow at a CAGR of 20.47% to reach USD 38.35 billion by 2029. Read More

What is the current Photonic Integrated Circuit Market size?

In 2024, the Photonic Integrated Circuit Market size is expected to reach USD 15.11 billion. Read More

Who are the key players in Photonic Integrated Circuit Market?

NeoPhotonics Corporation, POET Technologies Inc, II-VI Incorporated, Infinera Corporation and Intel Corporation are the major companies operating in the Photonic Integrated Circuit Market. Read More

Which is the fastest growing region in Photonic Integrated Circuit Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Photonic Integrated Circuit Market?

In 2024, the Asia Pacific accounts for the largest market share in Photonic Integrated Circuit Market. Read More

What years does this Photonic Integrated Circuit Market cover, and what was the market size in 2023?

In 2023, the Photonic Integrated Circuit Market size was estimated at USD 12.02 billion. The report covers the Photonic Integrated Circuit Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Photonic Integrated Circuit Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Photonic Integrated Circuit Market Trends

Statistics for the 2023 & 2024 Photonic Integrated Circuit market trends, created by Mordor Intelligence™ Industry Reports. Photonic Integrated Circuit trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of Photonic Integrated Circuit Industry

Data Center Segment Dominates Market

Data center applications are leading the Photonic Integrated Circuit (PIC) market, accounting for 67.88% of the market share in 2021. This dominance is driven by the need for high-speed data transmission and the rapid expansion of cloud computing infrastructure.

Traffic surge: Cisco’s Cloud Index forecasts North America generating 7.7 ZB of cloud traffic annually by 2021, highlighting the growing need for efficient data processing.
Data center concentration: The U.S. has about 2,600 data centers, representing 33% of the global total, creating a sizable market for PIC solutions.
Collaborative innovation: Companies like IBM, Intel, and Cisco are developing PIC-based solutions in collaboration with academia and government.
Growth forecast: The segment is projected to grow from USD 5,429.64 million in 2021 to USD 17,485.97 million by 2027, with a CAGR of 19.96%.

Photonic Integrated Circuit Market : Leading Countries by Number of Data Centers as of March 2024

Understand The Key Trends Shaping This Market

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Asia-Pacific Witness Major Growth

Asia-Pacific is the fastest-growing region in the PIC market, expected to achieve a CAGR of 23.36% between 2022 and 2027, driven by technological advancements and increasing investment.

Market surge: The Asia-Pacific PIC market is forecasted to grow from USD 1,615.15 million in 2021 to USD 6,150.74 million by 2027.
Innovative breakthroughs: In November 2021, researchers at the University of Illinois created a miniature photonic circuit using sound waves to isolate and regulate light.
Strategic partnerships: Collaborations like the one between Ansys and GF in 2022 are driving advancements in photonic design for data centers and supercomputing in the region.
Government support: Public-private initiatives, such as the Ontario Photonics Industry Network, are boosting PIC innovation in the region.