The market for photonic chips market is projected to be worth USD 7.5 billion globally in 2023, with a compound annual growth rate (CAGR) of 10.1% anticipated from 2024 to 2034. Integrated circuits that use photons rather than electrons are known as photonic chips. The growing demand for faster data transmission, especially for 5G networks, data centers, and long-haul fiber optics, is driving growth in the market.

The market's demand is being driven largely by the growing use of data-intensive computations, such as online gaming and video streaming. Another important driver of the market's expansion is the rising demand for energy-efficient gadgets. The market is growing as a result of expanding sensing and healthcare applications.

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Growth Drivers

"The market is expanding due to the growing demand for high-speed data transmission as well as the development of AI and machine learning." Cloud computing and rising internet traffic are major drivers of industry expansion. Photonic chips use less energy than conventional electronics chips, which lowers cooling expenses and heat dissipation. LiDAR, optical sensors, biophotonics, and medical imaging all use photonic chips.

Through research initiatives and subsidies, the US, China, and the EU are advancing the development of photonics. High-performance processing is necessary for AI workloads, and photonic chips' capacity to process data well while using less power is advantageous. For AI accelerators, businesses such as NVIDIA and Intel are investing in integrated photonics.

Segmentation

Intelligent Process Automation Material

·         III-V Material  

·         Lithium Niobate

·         Silica-on-silicon

·         Others

Intelligent Process Automation Integration Process

·         Hybrid

·         Monolithic

Intelligent Process Automation Application

·         Telecommunication

·         Biomedical

·         Data Centers

·         Others

By Region

·         Asia Pacific

·         North America

·         Latin America

·         Middle East and Africa

·         Europe

Key Players

·         Intel Corporation

·         Cisco Systems

·         Macom

·         GlobalFoundries Inc.

·         Lumentum Operations

·         Marvell

·         Coherent Corporation

·         IBM

·         ST Microelectronic NV

·         Rockley Photonics Holding Limited

·         Broadcam Inc.

·         Chiral Photonic Inc.

·         NKT Photonics

·         DAS Photonics

·         TDK Corporation

·         Effect Photonics

·         HAMAMATSU photonics

·         Fujitsu Limited

·         AIO, Core Co. Ltd.

·         SCINTIL PHOTONICS

·         IPG Photonics corporation

·         Other Players

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