Photonic Integrated Circuit (IC) & Quantum Computing Market Size, Share, Growth, and Industry Analysis, By Type (Hybrid, Monolithic, and Module), By Application (Laser, Modulator, Photo Detectors, Attenuators, and Optical Amplifiers) and Regional Forecast to 2032

Updated On: 04 November 2024

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PHOTONIC INTEGRATED CIRCUIT (IC) & QUANTUM COMPUTING MARKET REPORT OVERVIEW

The Photonic Integrated Circuit (IC) & Quantum Computing Market Size is Projected to be worth US$ 2114 Million in 2023, Market is likely to Surpass US$ 2135.39 Million by 2032 at a CAGR of 0.1% During the Forecast period [2024-2032].

It provide the user with a lot of features that make this particular product service work efficiently and effectively. Using high-speed photons instead of electrons, which have a lower speed, is how photonic integrated circuits work. This enables massive data transfers with great efficiency and speed for devices equipped with PICs. This factor has augmented the photonic integrated circuit (IC) & quantum computing market growth.

The anticipated rate of growth for this particular product service is due to quality level of assurance. Prosperity has been observed for this particular product market with amusing numbers. Reliable and effective optical communication solutions are necessary for the deployment of 5G networks and the ultimate switch to future wireless communication technologies. High-speed and low-latency communication is made possible by photonic integrated circuits, which are essential for 5G networks and beyond. This has ultimately outraged the sales and demand for this particular market growth and prosperity.

COVID-19 Impact: Market Growth Obstructed by Pandemic due to Lockdown

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

This has affected the overall supply and demand chains of the particular market. Demand for data centers surged due to the COVID-19 pandemic, which was exacerbated by SMEs' strong adoption of cloud services and burgeoning need for bandwidth. The increasing trend of higher switch and transceiver data rates is what's propelling the usage of PIC. As a result of the government's lockdown and other steps to stop the coronavirus from spreading, all supply activities were postponed, which decreased the amount of injuries related to services industry. Therefore, a small influence from COVID-19 is anticipated on the photonic integrated circuit (IC) & quantum computing market share.

LATEST TRENDS

"High-Speed Communication to Drive Market Growth"

A latest trend has been witnessed to proliferate the market growth. In data centers, photonic integrated circuits can be used to facilitate efficient data transmission, lower latency, and enhance overall network performance. This is made possible by the constant increase in data traffic and the demand for high-speed communication solutions. This specific trend has influenced the market growth so much so that the revenue and share numbers of this particular product is touching the skies and soaring over.

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PHOTONIC INTEGRATED CIRCUIT (IC) & QUANTUM COMPUTING MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into Hybrid, Monolithic, and Module amongst which the leading segment is the Module.

• Hybrid: It is nothing but a type of computing service with the Hybrid.

• Monolithic: It is basically a type that of computing service with the Monolithic.

• Module: It is nothing but a type of computing service with the starch Module.

By Application

Based on application the global market can be categorized into Laser, Modulator, Photo Detectors, Attenuators, and Optical Amplifiers amongst which the leading segment is the Laser.

• Laser: It is just an application where it is used by

• Modulator: It is nothing but an application where it is used by modulator.

• Photo Detectors: It is just an application where it is used by organic photo detectors.

• Attenuators: It is nothing but an application where it is used by attenuators.

• Optical Amplifiers:It is just an application where it is used by optical amplifiers.

DRIVING FACTORS

"Efficient Data Transmission to Boost the Market"

This is the major factor attributing the growth of this particular market. The research and development activities have been augmented due to which the demand for this particular prodcut has been proportionally increased which has resulted in the proliferation of the revenue and share numbers as well. PIC adoption is driven by the growing need for high-speed data communication in cloud computing, data centers, and telecommunications networks. The necessity for large bandwidth and low latency is met by PICs, which allow efficient data processing and transfer at extremely fast speeds. These factors are anticipated to drive the market growth during the forecast period.

"Data Interconnection to Expand the Market"

This is the second major factor attributing the growth of this particular  market and has resulted in the hike of revenue numbers so much so that they are touching the skies. Clients benefit from it. Data centers are expanding as a result of the quick development of digital material, internet services, and cloud computing. Data center interconnection, energy efficiency, data transmission bottleneck reduction, and overall performance can all be improved by photonic integrated circuits. These factors are anticipated to drive the market growth in the present times and also during the forecast period.

RESTRAINING FACTOR

"High Cost and to Impede Market Growth"

These particular solutions have been very helpful yet extremely costly as well. It has been witnessed that this particular market has experienced immense trouble in the supply chains which has resulted in the restrain for this market growth. Photonic integrated circuit development and production require specific tools and procedures, which raises the initial cost significantly. This pricing element may act as a deterrent for new or smaller businesses looking to enter the industry. This particular factor is anticipated to restrain the market growth and drastically reduce the sales and demands of this particular product market. 

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PHOTONIC INTEGRATED CIRCUIT (IC) & QUANTUM COMPUTING MARKET REGIONAL INSIGHTS

The market is primarily segmented into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"North America  Dominating the Market due to Advanced Technology"

North America is expected to be the leading region of this particular product market and is anticipated to to grow over the forecasted period. Applications such as fiber optic communication WAN and data centers are driving demand for solutions based on photonic integrated circuits (PICs). The demand for fast data transmission has resulted in a surge in cloud computing traffic, and the swift adoption of the Internet of photonics is anticipated to foster a thriving integrated circuit sector throughout the region.

KEY INDUSTRY PLAYERS

"Leading Players adopt Acquisition Strategies to Stay Competitive"

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• Hamamatsu Photonics (Japan)
• Ciena (U.S.)
• Viavi (U.S.)
• HP (U.S.)
• IBM (U.S.)

INDUSTRIAL DEVELOPMENT

March 2023: This particular company has attributed the market growth in terms of revenue and shares system. A research facility for photonic integrated circuits (PICs) was established by Intel Corporation. The facility is housed at the Intel campus in Santa Clara, California, and its primary goal is to create new PIC technologies for data center interconnects. This development has proved that the company will continue to proliferate this particular product market growth.

REPORT COVERAGE

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.