Photonic Integrated Circuit (IC) Market to Earn US$1.3 Bn as Application in Integration of Optical Devices Increases
The global photonic integrated circuit (IC) market is prophesied in a report by Transparency Market Research (TMR) to witness a significantly high level of competition taking shape between top players, viz. Alcatel-Lucent S.A., Ciena Corp., Huawei Technologies Co. Ltd., and Infinera Corporation. In such a heated competitive scenario, new entrants could cash in on rewarding growth prospects birthed through strategic alliances and mergers and acquisitions. The market could expect the rise of niche offerings from new players. As the number of players operating in the market increases, the degree of competition is anticipated to simultaneously increase going forth. By the completion of 2022, the global photonic IC market is foreseen to collect revenue worth a US$1.3 bn, according to TMR. In terms of application, optical communication could continue to lead the market, reaching a valuation of US$0.7 bn by the same year. By region, North America is foretold to gather pace while raking...