ALBANY, N.Y.--(BUSINESS WIRE)--Transparency Market Research has announced the release of a report titled “Photonic Integrated Circuit (IC) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019”.
The report states that the global photonic integrated circuit (IC) market will grow at a 31.3% CAGR from 2013 through 2019. The photonic integrated circuit (IC) market was valued at US$160.1 million in 2012, and is projected to reach an estimated US$996.2 million by 2019. The report discusses the complete market overview, market trends, and growth figures in detail.
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The demand for photonic integrated circuit (PIC) is expected to grow rapidly due to the significant changes offered in terms of circuit power consumption, size, cost, and reliability. The study provides growth projections for photonic integrated circuits (PICs) for different applications including biophotonics, optical signal processing, optical communications, and sensing. As the majority of the PIC market growth depends on its expansion into the energy markets, the overall optical signal processing category (63% of the market in 2012) is the fastest-growing segment in the overall PIC market.
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Currently, the hybrid integration technology is another major integration technology used in PICs, accounting for 56.1% of the global market.
The research report lends a deeper understanding of the global photonic integrated circuit (PIC) market based on major components, raw materials, applications, geographies, and integration types for the forecast period.
The report identifies the highest opportunities for growth in the North American and Asia-Pacific regions owing to advancements in the field of fiber optic communications and image processing capabilities in these regions.
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