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According to a new market report published by Transparency Market Research "Photonic IC Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019," the market was valued at USD 160.1 million in 2012, which is expected to reach USD 996.2 million by 2019, growing at a CAGR of 31.3% from 2013 to 2019. Cost reduction achieved by integrating different optical components such as lasers, detectors, modulators and others into a single unique package is the major driving force for the growth of photonic integrated circuits (PIC) market. Growing application areas, especially in the field of optical communication, sensing and biophotonics coupled with improvements offered in power consumption, reliability and data transfer speed have further fueled the growth of this market.
Browse Photonic IC Market Report with full TOC at http://www.transparencymarketresearch.com/photonic-integrated-circuit.html