https://www.fmiblog.com/2023/06/16/exploring-the-radiant-future-photonic-integrated-circuit-market-surges-to-us-9-4-billion-with-a-cagr-of-21-5-by-2032-fmi/

Key Takeaways from the Market Study

• Global Photonic Integrated Circuit Market is expected to reach a market size of US$ 1.3 Bn by 2022.
• The Hybrid Integration segment is expected to have the highest CAGR of 21.5% during the forecast period.
• United States is projected to remain the most dominant market with an absolute dollar growth opportunity of US$ 2.4 Bn during 2022 – 2032.
• The market in China is set to experience the highest CAGR of 23.6% during the 2022-2032 forecast period.

Competitive Landscape

• The market is fiercely competitive, where key players are increasingly focused to obtain a competitive advantage. The key companies in the Photonic Integrated Circuits (PIC) Market are focused on R&D to produce innovative technological solutions.
• In February 2022, Ayar Labs, a photonic chip provider with circuits that carry data between processors significantly faster than typical metal interconnects, announced a “multi-year strategic agreement” with Hewlett Packard Enterprise.
• In October 2020, Sanan IC, the world’s largest LED manufacturer announced that it has inked a US$ 50 Mn Joint Venture Agreement with POET Technologies. Super Photonics Xiamen Co., Ltd, the company’s subsidiary, has also applied for registration. This is expected to offer transceiver module makers, systems vendors, data center operators, and network providers throughout the world a new generation of cost-effective, high-performance optical engines.
• In May 2022, to increase reliability and performance across all operating scenarios, Cisco announced that it has combined new predictive technologies with its comprehensive portfolio of observability, visibility, and intelligence capabilities.