Global Photonics Market is estimated to reach $930 Billion by 2024; growing at a CAGR of 6.5% from 2016 to 2024. Photonics is the science and technology of generating, detecting, and controlling photons, which are particles of light. The features of the photons and waves can be used to cure diseases, explore universe, and even solve crimes. Photonics discovers a widespread variety of wavelengths, ranging from gamma rays to radio, including UV, X-rays, and infrared light. Photonics is viewed as one of the key enabling technologies in the past, leading to the growth of new products and services with considerable economic benefits. Other useful applications of photonics include transmission, modulation, switching, signal processing, and sensing.
Global Photonics Market Size and Forecast, 2015 – 2024 (US$ Billion)
The growth of global photonics market is primarily driven by increased demand from applications such as displays, need for energy efficient products, and increased adoption of photonics products in numerous application. Also, rising application of photonics in medical technology and life sciences, information and communication technology have boosted the market growth. Besides, high cost of photonics products and services, and strict environmental guidelines have acted as the major hindrances for the growth of the market. Moreover, continuous R&D coupled with advancement in technology, and photonics used in the manufacturing of consumer electronics is expected to generate various growth opportunities in the market in the coming future.
The global photonics market is mainly classified on the basis of product, application, and geography. By product, the market is segmented into waveguides, optical modulators, optical interconnects, LED, wavelength division multiplexer filters, photo detectors, lasers, amplifiers, and other products. The application segment includes consumer electronics, displays, safety and defense technology, communication, metrology, sensing, medical and healthcare, high performance computing, and other applications.
Global Photonics Market, by Product (2016)
Based on geography, photonics market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe consists of UK, Russia, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
Global Photonics Market Regional Revenue % (2016 Vs 2024)
The major companies operating in the global photonics market include Royal Philips N.V., Nikon Corporation, Corning Incorporated, Shin-Etsu Chemical Company Limited, Schott AG, American Elements, Asahi Glass Company Limited, Ohara Inc., Hoya Corporation, and II-VI Inc., among others.
The key takeaways from the report
- The report will provide detailed analysis of Global Photonics Market with respect to major segments such as product, application, and geography
- The report will include the qualitative and quantitative analysis with market estimation over 2015 – 2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Global Photonics Market has been included in the report
- Profile of the key players in the Global Photonics Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Photonics Market
- Optical Modulators
- Optical Interconnects
- Wavelength Division Multiplexer Filters
- Photo Detectors
- Other Products
- Consumer Electronics
- Safety and Defense Technology
- Medical and Healthcare
- High Performance Computing
- Other Applications
- North America
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- South America
- Middle East
Global Photonics Market Primary Interviews, by Geography