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Global $3.22 Billion Photonic Integrated Circuit (IC) Market Outlook to 2023 - ResearchAndMarkets.comThe "Photonic Integrated Circuit (IC) - Global Market Outlook (2017-2023)" report has been added to ResearchAndMarkets.com's offering. The Global Photonic Integrated Circuit (IC) market was estimated at $480.99 million in 2016 and is expected to reach $ 3,227.31 million by 2023 growing at a CAGR of 31.3% from 2016 to 2023. Increase in level of integration and decrease in size of the devices are the key factors fueling the market growth. Low level of digitalization is major restraining factor for the market. Demand for Photonic technology is major opportunity for the market. By Application, Optical Communications segment is projected to dominate the market due to their cost effectiveness and using them as an alternativeto data transmission. Increase in demand for PICs in multiplexers and DE multiplexers, lasers, modulators, and optical amplifiers are expected to drive the market. North America acquires the largest market in PIC market, due to application of optical fiber communications especially in data centers and WAN. However, APAC is the largest player in the access network application of optical fiber communications right now. Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/research/s32l3g/global_3_22?w=4 View source version on businesswire.com: https://www.businesswire.com/news/home/20180620006195/en/ |
