Global Photonics Integrated Circuit (IC) Market is estimated to reach $3,554 million by 2024; growing at a CAGR of 31.8% from 2016 to 2024.Photonics is the science of light detection, generation, and manipulation over transmission, emission, signal processing, modulation, switching, sensing and amplification. The wide range of devices or equipment's with photonic-based components is expected to influence the global demand for the technology positively.Considered by superior attributes such as low-power consumption, small size, and scalable functionality, higher efficiency, the PICs have been the perfect replacement for electronics in many devices and systems that need miniaturization and optimum performance.

High power efficiency, miniaturization leads to cost reduction, and increased functionalities & growing applications are the factors driving the growth of the photonics integrated circuit market. Though, lack of digitization and design issues may hinder the growth of the market. Moreover, increasing technological advancements might provide with several growth opportunities in the forecasted years.

The global photonics integrated circuit (IC)market has been segmented into integration type, raw material, component, application, and geography. On the basis ofintegration type, global market has been divided intomonolithic integration, hybrid integration, and module integration. On the basis of raw material, the market has been segmented asindium phosphide, gallium arsenide, lithium niobate, silicon, silica-on-silicon, and other raw materials. Based on components, the market is classified into lasers, modulators, detectors, attenuators, MUX/DEMUX, and optical amplifiers.Application comprises optical communications, sensing, biophotonics, and optical signal processing.

Based on geography, global photonics integrated circuit (IC) market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe segment consist of UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.

The key players operating in the market are Hewlett-Packard Company, Ciena Corporation, Hamamatsu Photonics K.K., IBM Corp., NeoPhotonics Corporation, Viavi Solutions, Inc., 3S Photonics S.A.S, Innolume GmbH, Infinera Corp., and Broadcom Limited, among others.

The key takeaways from the report
The report will provide detailed analysis of Photonics Integrated Circuit (IC)Market with respect to major segments such as integration type, raw material, components, and application
The report will include the qualitative and quantitative analysis with market estimation over 2015 - 2024 and compound annual growth rate (CAGR) between 2016 and 2024
Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Photonics Integrated Circuit (IC)Market has been included in the report
Profile of the key players in the Photonics Integrated Circuit (IC)Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Photonics Integrated Circuit (IC) Market
IntegrationTypeSegments

Monolithic Integration
Hybrid Integration
Module Integration
Raw Material Segments

Indium Phosphide
Gallium Arsenide
Lithium Niobate
Silicon
Silicon-on-Insulator
Other raw materials
Component Segments

Lasers
Modulators
Detectors
Attenuators
MUX/DEMUX
Optical Amplifiers
Application Segments

Optical communications
Sensing
Biophotonics
Optical Signal Processing
Geographical Segments

North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Rest of Asia-Pacific
RoW
South America
Middle East
Africa