Photonics Market: Global Market Estimation, Dynamics, Trends, Competitor Analysis 2015-2020 and Forecast 2021-2027

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Photonics Market: By Product (Waveguides, Optical Modulators, Optical Interconnects, LED, Wavelength Division, Multiplexer Filters, Photo Detectors, Lasers, Amplifiers, and Others), Application (Consumer, Electronics, Displays, Safety & Defense Technology, Communication, Metrology, Sensing, Medical & Healthcare, High-Performance Computing, and Others), and Geography

 

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Report

Description

Photonics Market Size is valued at USD 612.9 million in 2021 and is poised to grow at a significant CAGR of 7.5 % over the forecast period (2022-2028) owing to the rising application in silicone-based photonics, increasing usage of photonics for non-invasive healthcare, and growing use of photonics-enabled devices in information and communication industries production sectors throughout the projected period. Moreover, the growing demand of minimally invasive surgery across the globe is expected to drive the photonics market. With applications ranging from diagnostics to surgical instruments to therapies, the medical device business is a rapidly growing area of potential for optical and photonics technology. However, the high cost of photonic products and the requirement for substantial amounts of labor are hampering the market growth. Photonics is the study of radiant energy and waves, which may be used to treat diseases, explore the world, and even solve crimes. Advances have aided advancements in fiber optics and the advent of electricity in the photonics sector, accelerating the conversion process. Photonics advancements have also led to continual improvements in the performance of both OPV and OLED technologies.

Key Developments:

In January 2021 – Machine learning will benefit from the development of light-carrying chips. Researchers at the University of Münster are developing innovative methodologies and process architectures to deal with these challenges in a highly efficient manner, collaborating with an international team. They have now demonstrated that so-called photonic processors, in which data is processed using light, may process information even faster and in parallel, which electronic chips are incapable of achieving.

In April 2019 – TRUMPF completed the acquisition of Philips’ photonics division. Laser diodes from Philips Photonics are utilized in smartphones, digital data transmission applications, and sensors for autonomous driving. TRUMPF Photonics Components was formed because of the acquisition. TRUMPF will get access to a new market segment due to the acquisition, which will complement its current high-power diode laser business.

Photonics Market

MARKET SUMMARY
-
7.14% CAGR
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 7.14%
  • Largest Market– Asia Pacific
  • Fastest Growing Market– North America

Global Photonics Market

  • The photonics market report gives a comprehensive outlook on photonics market across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
  • The photonics market report gives historical, current, and future market sizes (US$ Bn) on the basis of application, product type, and region.
Market Leaders
  • Hamamatsu Photonics KK
  • Intel Corporation
  • Polatis Photonics Inc.
  • Alcatel-Lucent SA
  • Molex Inc
Photonics Market

Dynamics

The information technology segment is valued at USD 203.5 million in 2021 and is anticipated to grow at a substantial growth over the forecast period (2022-2028). Photonic technology is required for data generation, processing, storage and retrieval, data acquisition, and data utilization. Photonic materials and component manufacturing equipment are used in each of these procedures. It also provides photonics-related services. Photonic materials and equipment include data conversion devices, amplifier systems, light manipulation systems (stimulators, switches, routers), and fiber optic cables.


Asia-Pacific Got Significant Share

Photonics Market

The photonics market in the Asia Pacific is expected to hold the highest share of 31.2% in 2021, and it is anticipated to grow at a significant rate in the coming years owing to the presence of emerging economies such as China and India, the Asia Pacific region holds the largest market share. The low-cost workforce, combined with favorable government initiatives, rising share in R&D, and innovations are propelling the market growth. North America held the second-largest market share of 24.7% in the global Photonics market in 2020

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The report provides granular level information about market size, regional market share, historic market (2017-2021), and forecast (2022-2028).
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market.
  • The report tracks recent innovations, key developments and start-up details that are actively working in the market.
  • The report provides plethora of information about market entry strategies
Photonics Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

The Photonics Market is projected to expand at a CAGR of 7.5% during the forecast period.

Hamamatsu Photonics KK, Intel Corporation, Polatis Photonics Inc., Alcatel-Lucent SA, Molex Inc

North America is the fastest-growing region for Photonics Market


Report

Table Of Content


Report

Company Profile

  • Hamamatsu Photonics KK
  • Intel Corporation
  • Polatis Photonics Inc.
  • Alcatel-Lucent SA
  • Molex Inc
  • Infinera Corporation
  • NEC Corporation
  • Innolume GmbH
  • Finisar Corporation
  • IPG Photonics
  • Osram Licht AG
  • Philips Photonics
  • Photonics SAS
  • Schott AG
  • Carl Zeiss AG

Description

Photonics Market Size is valued at USD 612.9 million in 2021 and is poised to grow at a significant CAGR of 7.5 % over the forecast period (2022-2028) owing to the rising application in silicone-based photonics, increasing usage of photonics for non-invasive healthcare, and growing use of photonics-enabled devices in information and communication industries production sectors throughout the projected period. Moreover, the growing demand of minimally invasive surgery across the globe is expected to drive the photonics market. With applications ranging from diagnostics to surgical instruments to therapies, the medical device business is a rapidly growing area of potential for optical and photonics technology. However, the high cost of photonic products and the requirement for substantial amounts of labor are hampering the market growth. Photonics is the study of radiant energy and waves, which may be used to treat diseases, explore the world, and even solve crimes. Advances have aided advancements in fiber optics and the advent of electricity in the photonics sector, accelerating the conversion process. Photonics advancements have also led to continual improvements in the performance of both OPV and OLED technologies.

Key Developments:

In January 2021 – Machine learning will benefit from the development of light-carrying chips. Researchers at the University of Münster are developing innovative methodologies and process architectures to deal with these challenges in a highly efficient manner, collaborating with an international team. They have now demonstrated that so-called photonic processors, in which data is processed using light, may process information even faster and in parallel, which electronic chips are incapable of achieving.

In April 2019 – TRUMPF completed the acquisition of Philips’ photonics division. Laser diodes from Philips Photonics are utilized in smartphones, digital data transmission applications, and sensors for autonomous driving. TRUMPF Photonics Components was formed because of the acquisition. TRUMPF will get access to a new market segment due to the acquisition, which will complement its current high-power diode laser business.

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