Photonics Market Forecast and Trends
The global Photonics market
is anticipated to grow nearly at a CAGR of 4.68 % to reach US$ 812 billion by
2026. Global photonics market growth is driven primarily by increased demand
from applications such as displays, the need for energy-efficient products, and
increased adoption in numerous applications of photonics products.
Increasing use of photonics
has also fueled market growth in medical technology and life sciences,
information and communication technology. Moreover, continuous R&D, coupled
with technological advancement and photonics used in consumer electronics
manufacturing, is expected to generate multiple market growth opportunities in
the near future. In addition, high photonics products and services prices, as
well as strict environmental standards, have been the major obstacles to market
Photonics Market Overview:
Photonics is the physical
science of the production, detection, and manipulation of light (photon) by
absorption, transmission, modulation, signal processing, switching,
amplification, and sensing. Photonics is a research field involving the use of
radiant energy (such as light), the fundamental element of which is the photon.
Photonic devices use the photon just as the electron is used by electronic
applications. Devices running on light have a number of benefits compared to
those operating on electricity.
Need for energy-efficient
For the production of
energy-efficient goods and processes, extensive R&D activities are carried
out. Products and services allowed by photonics serve as an acceptable
substitute for conventionally used products. Solar energy is seen as an
essential alternative for generating electricity using traditional fuel such as
coal and oil & gas. The use of photonics products in lighting and displays,
in addition to generating energy, also provides a significant reduction in
energy consumption. The use of LED over conventionally used lighting such as
incandescent and CFL has led to a substantial decrease in energy consumption.
Growing Adoption of
Photonics is Substituting Semiconductor and Conductor Industry
Silicon photonics is an
emerging photonics branch that provides a clear advantage over the electrical
conductors used in semiconductors that are used in high-speed transmission
systems. This technology is tempted to push up to 100 Gbps of transmission
speed. The market is expected to invest heavily in this technology's mass
adoption, and to be a key aspect in developing high-performance computing,
increasing performance and efficiency. Therefore, the advent of silicon-based
photonics drives the market growth.
regulations impeding the performance of photonics products
Although photonics products
are generally environmentally friendly, a few added chemicals to the products
for performance enhancement are considered ecologically hazardous. Chemicals
like arsenic oxide and boron oxide are known to be dangerous, and regulatory
bodies like REACH and RoHS limit their use. Arsenic oxide is used in UV
detectors, sensors, and other photonics products.
Photonics Market: Product Type
Based on Product Type, the
Photonics market segmented into Waveguides, Optical Modulators, Optical Interconnects,
LED, Wavelength Division Multiplexer Filters, Photo Detectors, Lasers,
Amplifiers, Other Products. The LED technology segment is rapidly growing, and
is anticipated to dominate the lighting technology before the end of the
decade. The technological transition allowed the company to move from light
sources to smart lighting solutions.
Photonics Market: Application
Based on Application, the
Photonics market segmented into Displays, Information & Communication,
Technology, Photovoltaic, Medical Technology & Life Sciences, Measurement
& Automated Vision, Lighting, Production Technology, and Others. The
information & communication technology segment is estimated to be the
largest end-use industry during the forecast period, due to the rise in data
use and the growing number of internet users. The market is expected to be
driven by technological advances in information & communication technology
such as digitization, open internet initiative, and high-speed internet fiber
Photonics Market: End-user
Based on End-user, the
Photonics market segregated into Building & Construction, Media,
Broadcasting & Telecommunication, Consumer & Business Automation,
Medical, Security & Defense, Industrial, and Others. The media, broadcasting
and telecommunication segment is expected to dominate the market as this
segment is used for data storage, connectivity, as well as data sharing
purposes, form a few significant factors that have positively driven the global
photonics market demand in the media industry as well as other end-use sectors.
Photonics Market: Regional insights
By geography, the global
Photonics Market segregated into North America, Europe, Asia Pacific, Middle
East & Africa, and Latin America. Asia-Pacific is anticipated to dominate
the global photonics market due to the presence of emerging economies like
China and India. The global photonics market is driven by the availability of a
cheap workforce combined with favorable government initiatives.
Market: Competitive Landscape
The major market players in
the Global Photonics are Signify, SCHOTT, Nikon, Shin-Etsu Chemical Company,
HOYA, Corning, Asahi Glass, II-VI Inc., OHARA, American Elements, Hamamatsu
Photonics KK, Intel Corporation ,Alcatel-Lucent SA, Infinera Corporation, NEC
Corporation, Coherent, Inc, IPG Photonics, Finisar Corporation, Hamamatsu
Photonics, Lumentum, NeoPhotonics, Luxtera, Inc, ,3SP Technologies, Innolume
GmbH ,Genia Photonics, Inc, Redfern Integrated Optics, and other Prominent
Players are expanding their presence in the market by implementing various
innovations and technologies.
objective of the Study:
To analyze and forecast the
global Photonics market size of the market, in terms of value.
To examine the careful
market segmentation and forecast the market size, in terms value, based on the
region by segmenting the Global Photonics market into five regions, namely,
North America, Europe, Asia Pacific, Middle East, South America and their
To outline, categorized and
forecast the global Photonics market based on the Product Type, Applications,
and End User.
To examine competitive
developments like technological advancement, services, and regulative framework
within the global Photonics Market.
To highlight the impact
analysis of the factors, affecting the market dynamics such as drivers,
restraints, opportunities, and challenges.
To strategically profile the
key players and comprehensively analyze their market shares along with
detailing the competitive landscape for market leaders.
of the Report
By Product Type
Wavelength Division Multiplexer Filters
Information & Communication Technology
Medical Technology & Life Sciences
Measurement & Automated Vision
By End User
Building & Construction
Media, Broadcasting & Telecommunication
Consumer & Business Automation
Security & Defense
Asia Pacific (APAC)
Middle East & Africa
Questions answer by the report
How will the market drivers, restraints and
opportunities affect the market dynamics?
What will be the market size in terms of
value and volume and market statistics with a detailed classification?
Which segment dominates the market or region
and one will be the fastest growing and why?
A comprehensive survey of the competitive
landscape and the market participant players
Analysis of strategy adopted by the key
player and their impact on other players.
Scope for the Client
Client satisfaction is our
first and last priority and that is why BlueWeave Consulting offers customization
according to Company’s specific needs. The following customization options are
available for the report:
With five additional company detail analysis
Additional country analysis
Detailed segment analysis