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 physical science and technology of photon (light) generation, detection, and manipulation through emission, modulation, transmission, amplification, signal processing, and sensing. However, covering all light's scientific applications throughout the whole spectrum, maximum photonic applications are in the range of visible and almost-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. The features of photons and waves can be used to cure diseases, explore universe, and even solve crimes.
Some of the factors to drive the growth of the global photonics market include growing demand from applications such as displays, information & communication technology, medical technology, and life sciences. Though, strict environmental regulations, and high cost of photonics products and services is expected to restrain the market growth. Moreover, continuous R&D coupled with advancement in technology is likely to disclose new avenues for the global market in the forecast period.
The global photonics market is segmented into product, application, and geography. On the basis of product, the market includes wavelength division multiplexer filters, lasers, waveguides, amplifiers, optical interconnects, LED, optical modulators, photo detectors, and other products. The photonics market by application includes displays, consumer electronics, metrology, communication, sensing, high performance computing, medical and healthcare, safety & defense technology, and other applications. Based on geography, the 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.
Prominent players operating in the market include Royal Philips N.V., Shin-Etsu Chemical Company Limited, Corning Incorporated, Asahi Glass Company Limited, Schott AG, American Elements, Hoya Corporation, Nikon Corporation, II-VI Inc. and Ohara 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
• Wavelength Division Multiplexer Filters
• Optical Interconnects
• Optical Modulators
• Photo Detectors,
• Other Products
• Consumer Electronics
• High Performance Computing
• Medical and Healthcare
• Safety and Defense Technology
• Other Applications
• North America
o Rest of Europe
o South Korea
o Rest of Asia-Pacific
o South America
o Middle East