© 2016 Global Market Insights, Inc. USA. All Rights Reserved Fuel Cell Market size worth $25.5bn by 2024 Photonic IC Market Analysis, Industrial Forecast and Trends from 2018 to 2024: Global Market Insights, Inc.

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  North America photonic IC market dominated the industry owing to the presence of advanced electronics and telecom sectors in the region and its tendency to adopt the latest advanced technologies. The need to upgrade the existing infrastructure coupled with the growing adoption of the components in sensing and communications applications is driving the industry growth.  The U.S. is projected to witness a strong growth owing to the major spur in transport networks, data centers, and utilities & energy industry. In addition, the region will account for a substantial share in the photonic IC market over the coming years owing to a rising demand from the IT sector in the U.S. and Canada.  Regional Analysis of Photonic Integrated Circuit Market :

© 2016 Global Market Insights, Inc. USA. All Rights Reserved Application Analysis of Photonic Integrated Circuit Market:  The laser photonic IC market accounted for the majority of the industry share and is expected to grow at a high rate owing to its wide usage in applications such as telecommunication and data center domains. Usage of lasers provides a wide operating temperature range, enhanced optical power, and spectral purity. Increasing applications and widespread use of lasers in marking, engraving, cutting, welding, and drilling are being witnessed. Companies, such as Intel, are focusing on implementing technologies such as hybrid silicon laser. Lasers being one of the essential components of these ICs, the demand for the segment is expected to increase over the coming years.  In the photonic IC market, optical communication dominated the industry and will grow at a fast rate over the forecast timespan. Over the last few years, the industry has witnessed a tremendous increase in the data traffic. Optical communication based on the photonic ICs offers an efficient and cost-effective alternative to data transmission. In addition, owing to its efficiency in handling the increasing data traffic, the demand for optical communications photonic IC market is anticipated to increase. Moreover, the high bandwidth and low signal attenuation provided by optical communication systems are expected to boost their demand.

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  Major players operating in the photonic IC market include Neophotonics Corporation, Hewlett-Packard Enterprise, Infinera Corporation, Agilent Technologies, JDS Uniphase Corporation, Ciena Corporation, Luxtera, Inc., Avago Technologies, TE Connectivity Ltd., Alcatel-Lucent, Intel Corporation, Finisar Corporation, and Huawei Technologies Co., Ltd. The photonic IC market is competitive and fragmented in nature.  Major players are investing in the R&D and are competing based on technology differentiation and product innovations. Moreover, the intensity of the competition is anticipated to remain high over the coming years. Competitive Market Share of Photonic Integrated Circuit Market:

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