According to Data Bridge Market Research new Market report, global hybrid photonic integrated circuit market will account to an estimated USD 566.82 billion in 2018 growing at a CAGR of 8.6% during the forecast period of 2019 to 2026.
Global Hybrid Photonic Integrated Circuit Market:
Photonic Integrated Circuit also known as Integrated Optical Circuit or Planner Lightwave Circuits is an optoelectronic device on which many optical components are integrated. They are fabricated with the wafer- scale technology or substrate of silicon, silica or nonlinear crystal material. They are used to transfer the huge amount of data at very high speed and also help in finding application in the field related to the optical fiber communications. Hybrid and Monolithic are the two types of the photonic integrated circuit.
Global hybrid photonic integrated circuit market is segmented on the basis of product type, application, end- user industry and geography.
By Product Type (LED, Lasers, Detectors, Sensors, & Imaging Devices, Optical Communication Systems & Components, Consumer Electronics & Devices, Others), Application (Displays, Information & Communication Technology, Photovoltaic, Medical Technology & Life Sciences, Measurement & Automated Vision, Lighting, Production Technology, Others), End User Industry (Building & Construction, Media, Broadcasting & Telecommunication, Consumer & Business Automation, Medical, Safety & Defense, Industrial, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
FACTORS DRIVING GROWTH IN HYBRID PHOTONIC INTEGRATED CIRCUIT MARKET
Increase in the Photonics Devices
According to a data, there is increase in the smartphone user worldwide. There was about 1.57 billion smartphone user worldwide in 2014, which was 1.86 billion in 2015, then was 2.1 billion in 2016, in 2017 was 2.32 billion, 2.53 billion in 2018 and is 2.71 in 2019. It is expected that it will be 2.87 billion in 2020. Increase in the smartphone user lead to the increase in the smartphone which lead to the increase in the display market.
Key Market Competitors:
Few of the major competitors currently working in hybrid photonic integrated circuit market are Koninklijke Philips N.V., SCHOTT NYC, Shin-Etsu Chemical Co., Ltd., NIKON CORPORATION, HOYA Corporation, Corning Incorporated, American Elements, Ohara Corporation, AGC Inc., II-VI Incorporated, Huawei Technologies Co., Ltd., Cisco Systems, Coherent, TRUMPH, General Electric, CANON MEDICAL SYSTEMS INCORPORATION, Hitachi, Ltd., Emerson Electric Co., Siemens ag, LG Display Co., Ltd., SAMSUNG, Innolux Corporation, OSRAM Licht AG, Trina Solar, IPG Photonics Corporation among others.
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