Photonics Market Size, By Product Type (Waveguides, Optical Modulators, Optical Interconnects, LED, Wavelength Division Multiplexer Filters, Photo Detectors, Lasers, Amplifiers, Other Products), By Application (Displays, Information & Communication Technology, Photovoltaic, Medical Technology & Life Sciences, Measurement & Automated Vision, Lighting, Production Technology, Others), By End User (Media, Broadcasting & Telecommunication, Building & Construction, Consumer & Business Automation, Medical, Security & Defense, Industrial, and Others), and by Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America); Trend Analysis, Competitive Market Share & Forecast, 2016-26
- Published Date: March 2020
- Report ID: BWC19405
- Available Format: PDF
- Page: 185
Global 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 growth.
Global 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 products
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.
Stringent environmental 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.
Global 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.
Global 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 optics connectivity.
Global 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.
Global 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.
Photonics 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.
The 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 leading countries.
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.
Scope of the Report
By Product Type
· Optical Modulators
· Optical Interconnects
· Wavelength Division Multiplexer Filters
· Photo Detectors
· Other Products
· Information & Communication Technology
· Medical Technology & Life Sciences
· Measurement & Automated Vision
· Production Technology
By End User
· Building & Construction
· Media, Broadcasting & Telecommunication
· Consumer & Business Automation
· Security & Defense
· Asia Pacific (APAC)
· North America
· Middle East & Africa
· Latin America
Business 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.
Customization 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:
Additional Company Information
· With five additional company detail analysis
· Additional country analysis
· Detailed segment analysis
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