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Photonic integrated circuits (PIC) are circuits that carry information by using photons in the visible or near-infrared spectrum of light. It controls computer systems and store large amounts of information. The most common applications of PIC include information processing, data storage, communication, and entertainment applications. Photonic integrated circuits (PIC) have ability to process information and are produced from different materials such as Gallium Arsenide (GaAS), silicon, Indium Phosphide (InP), and Lithium Niobate (LiNbO3) Growing miniaturization of devices is a prime factor fueling the market growth of the photonic IC. These circuits offer high-speed data transmission due to which they are gaining huge demand from aerospace, industrial, and telecommunication, utilities, and energy sectors which is again propelling the market growth. Also, the growing demand for efficient and high-speed data transmission across data centers is further escalating the market growth of the photonic IC. The growing need for photonic IC from the telecommunication industry along with the rise in the number of cloud services providers is expected to bring bright market opportunities over the forecast period. From the geographical perspective, the Asia Pacific is expected to gain significant growth over the forecast period and this is attributed to the high presence of the telecommunication industry in the region. India is the world's second-largest telecommunications market with a subscriber base of 1.16 billion and has registered strong growth in the last decade. India witnesses an increase in total internet users to reach 636.73 million in 2019. The internet subscribers reached 687.62 million by September 2019. Key developments: 1. In June 2020, KVH Industries, Inc., announced the launch of P-1775 inertial measurement unit (IMU) featuring KVH's new PIC InsideTM photonic integrated chip (PIC) technology. The product features an integrated planar optical chip that s

The system in package market based on packaging method has been segmented into flip chip (FC), wire bond and die attach (WB and DA), and fan-out wafer level packaging (FOWLP). Intel (US) was the early adopter of flip chip packaging method for packaging of its mainstream CPUs to improve the electrical and thermal performance of the processors. https://www.marketsandmarkets.com/Market-Reports/System-In-Package-SIP-Market-Chip-Stack-Multi-Chip-Module-MCM-Market-625.html

On January 1, the RBI enforced its decision to make microchip-based debit/credit cards mandatory in India. The move, as several banks notified, left old magstripe-based cards useless. But, it wasn't just a card upgrade; RBI had also instructed banks to calibrate the ATMs. Let's know more about it.

Scientists based at EPFL's Institute of Bioengineering in Lausanne, Switzerland have simulated aspects of embryo formation inside a microfluidic chip, setting the stage for fabricating functional tissues and organs for drug testing and transplantation.

Contactless payments are one of the emerging forms of digital payment technologies that allow consumers to pay for goods and services by using credit or debit cards. The primary technology used in contactless payment is RFRID i.e. radiofrequency identification also known as chip cards. Consumers do not have to swipe the card or enter personal identification number i.e. PIN, in order to commence the transaction. These types of payment systems often installed at point-of-sale terminals with a Wi-Fi-like logo though turned onto its side. The credit card industry is facing a transition period as it adjusts to new technology. As more people are using their debit cards and using contactless payments on the internet, credit card issuers are facing tough questions from consumers about their business practices. Some merchants will not accept contactless payments or charge high transaction fees for consumers who use such cards at their business locations. Others will charge consumers additional processing fees for accepting credit cards over their magnetic stripe cards. Market Drivers Growing penetration of smartphones in South America and Asia Pacific is expected to drive growth of the contactless payments market during the forecast period. According to the Indian Cellular and Electronics Association, India's smartphone base is expected to reach 820 million by 2022. According to the same source, rural part of India witnessed around 35% year-on-year growth in smartphone penetration, while 7% growth in urban parts. Such high penetration of smartphones has led to increase in contactless payments. Hence, such factors are expected to drive growth of the contactless payments market during the forecast period. Moreover, increasing demand for biometric contactless smart cards in developed countries is expected to propel the contactless payments market growth over the forecast period. Market Restraint High cost of development and lack of consumer awareness is expected to hinder t