What is the global market size of Photonic Integrated Circuit Market?

Global Photonic Integrated Circuit Market size was valued at USD 10.41 billion in 2022 and is poised to grow from USD 12.54 billion in 2023 to USD 46.19 billion by 2031, growing at a CAGR of 20.47% during the forecast period (2024-2031).

Who are the key vendors in the Global Photonic Integrated Circuit Market?

The global Photonic Integrated Circuit market is characterized by intense competition among key players striving to gain a significant market share. Established companies and new entrants are focusing on product innovation, research and development, and strategic partnerships to stay ahead in the market. Key players are also emphasizing the development of customer-specific and region-specific products to cater to diverse consumer preferences. Mergers and acquisitions are common strategies employed to expand market reach and enhance product portfolios. The competitive landscape is dynamic, with players striving to meet evolving consumer demands and gain a competitive edge in the market. 'Infinera Corporation', 'Intel Corporation', 'NeoPhotonics', 'Ciena', 'Cisco', 'Broadcom', 'Mellanox Technologies', 'EMCORE Corporation', 'Finisar Corporation', 'GlobalFoundries', 'LIGENTEC SA', 'MACOM', 'Stmicroelectronic', 'Agilent Technologies', 'ANELLO Photonics', 'HP instrument', 'Huawei', 'VLC Photonics'.

What is the key driver of Global Photonic Integrated Circuit Market?

One of the key drivers for the global Photonic Integrated Circuit (PIC) market is the increasing demand for high-speed data transmission and bandwidth-intensive applications. As digital transformation grows across various industries, including telecommunications, data centers, and cloud computing, there is an increasing need for efficient and high-performance optical communication solutions. PICs offer compact, scalable, and energy-efficient platforms for handling large volumes of data at ultra-fast speeds, driving their adoption in next-generation networks, 5G wireless communication, optical interconnects, and other bandwidth-intensive applications. This surge in demand for higher data rates and improved network efficiency is driving the growth of the global PIC market.

What is the key market trend for Global Photonic Integrated Circuit Market?

With the explosion of data-intensive applications and the advent of technologies such as 5G, there is a rising demand for PICs to enable high-speed optical communication and data transmission.

Which region accounted for the largest share in Global Photonic Integrated Circuit Market?

In the Photonic Integrated Circuit (PIC) market, North America stands out as the dominating region. North America is the leader in PIC innovation and adoption across a range of industries, including telecommunications, data centres, and healthcare, with effect to its well-established technological infrastructure, strong presence of important market participants, and large investments in research and development. The area gains from a strong need for optical communication solutions and high-speed data transfer, as well as an environment that is favorable for technological breakthroughs.

Optical Network Hardware Market Size, Share, Growth Analysis, By Equipment(WDM, and SONET-SDH), By Application(Smart cities, Fibre Optic Network) - Industry Forecast 2024-2031

Report ID: SQMIG45H2067 | Region: Global | Published Date: March, 2024
Pages: 188 | Tables: 63 | Figures: 74

Optical Network Hardware Market News

In June 2023, Actelis Networks, Inc. launched a new line of sophisticated, software-managed, temperature-and cyber-hardened layer 2 and layer 3 fiber optic switching devices in cyber-hardened, rapid deployment networking solutions for wide area Internet of things applications. Actelis will be able to serve hybrid fiber-copper networks that have a higher percentage of fiber by offering a far wider range of options for both small and large networks, at faster speeds.

In February 2023, Nokia announced the release of the PSE-6s, a sixth-generation super-coherent photonic service engine that can cut network power usage by 60.

In November 2022, Ciena has consented to purchase Tibit Communications to enhance the business's passive optical network infrastructure.

Optical Network Hardware Market Report Snapshots

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Optical Network Hardware Market size was valued at USD 5.47 billion in 2022 and is poised to grow from USD 5.72 billion in 2023 to USD 8.59 billion by 2031, growing at a CAGR of 4.62% during the forecast period (2024-2031).

The Optical Network Hardware Market is characterized by intense competition among key players striving to gain a significant market share. Established companies leverage their extensive experience, brand recognition, and presence to maintain dominance, while emerging players focus on niche markets or disruptive technologies to gain traction. With rapid advancements in optical networking technologies and increasing demand for high-speed data transmission solutions, competition intensifies as companies strive to offer superior products with enhanced performance, reliability, and cost-effectiveness. 'Adtran', 'Cisco', 'Nokia Corporation', 'Ciena', 'Huawei Technologies', 'ZTE Corporation', 'Fujitsu Ltd', 'Infinera', 'Telefonaktiebolaget LM Ericsson', 'NEC Corp', 'Arris', 'Broadcom', 'Calix', 'Mitsubishi Electric Corp', 'Verizon', 'Juniper Networks', 'ADVA', 'Arista Networks', 'Extreme Networks'

One of the key drivers for the optical network hardware market is the continuous increase in demand for high-speed internet connectivity and bandwidth-intensive applications. With the explosion of data-intensive activities such as video streaming, cloud computing, online gaming, and IoT devices, there is a growing need for robust optical network infrastructure to support the transmission of large volumes of data efficiently and reliably. Optical network hardware, including fiber optic cables, transceivers, switches, and routers, plays an important role in meeting this demand by enabling high-speed data transmission over long distances with minimal latency, driving the growth of the optical network hardware market.

In optical network gear, there is a trend toward faster speeds and more bandwidth capacity. The need for optical network solutions that can handle ultra-fast data transmission rates and meet ever-increasing bandwidth demands is developing because of upcoming technologies like 5G, IoT, and cloud computing, which are driving up data consumption.

In the optical network hardware market, North America emerges as the dominating region. North America is the leader in the adoption and invention of optical network gear due to its sophisticated telecommunications infrastructure, large investments in research and development, and strong demand for high-speed data transmission solutions. In addition to being the home of important industry players, the region is a major hub for data centres, telecom networks, and cloud computing services. It also fosters technical developments.

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Optical Network Hardware Market Size, Share, Growth Analysis, By Equipment(WDM, and SONET-SDH), By Application(Smart cities, Fibre Optic Network) - Industry Forecast 2024-2031

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