According to a new market report published by Credence Research Inc., “Photonic IC (Optical Communications (Wireless Access Networks, Long Haul and Transport Networks, Data Centers, etc.), Sensing (Engineering, Energy and Utilities, Transport and Aerospace, etc.), Biophotonics (Medical Devices, Photonic Lab-On-A-Chip, etc.), and Optical Signal Processing (Quantum Optics, Quantum Computing, Optical Metrology, etc.)) Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2022”, the photonic integrated circuits (PIC) market is expected to witness strong growth during the forecast period, driven primarily by the growing demand from telecom networks and data center applications.
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Photonic integrated circuits use photons for transmitting data. Photons traveling at the speed of light enable photonic ICs to transfer data at comparatively greater speed than electronic ICs. Thus, photonic integrated circuits are increasingly integrated within optical communication systems to transfer large amount of data at high speed and over a longer distance. With the advancements in technology, the next generation applications in communication, storage, and computing are expected to possess increased level of bandwidth requirement as compared to today’s existing bandwidth needs. Integrating photonic integrated circuits with programmable electronics into a single discrete package reduce power consumption, system cost, and improve data transfer rate, reliability, and energy efficiency, without compromising on the level of performance. As such, photonics is poised to become the enabling technology for all future wired broadband and wireless technologies.
Proliferation of the Internet resulting in increased number of users and need for greater bandwidth and transmission speed has necessitated the need for network infrastructure capable of supporting gigabit transmission speeds. The growing demand for high speed communication is driving the photonic integrated circuits market. Other established application fields of photonic integrated circuits include sensing and biophotonics. Features such as electromagnetic immunity, high sensitivity, low cost of integration, and metal free operation have extended sensing applications of photonic ICs to different verticals including aerospace, transport, energy, utilities, and structural engineering among others. These features enable photonic sensors to measure or detect parameters accurately. On the other hand, the introduction of photonics into life science ecosystem has developed fast, accurate and reliable treatment techniques. With the advancements in healthcare technologies, biophotonics is expected to remain the focal point of the photonic IC market during the forecast period 2015 – 2022.