USD 630 billion
Global Photonics Market Size, Share, Growth Analysis, By Product Type(LED, Lasers), By Application(Displays, Information) - Industry Forecast 2024-2031
Report ID:
SQMIG45K2073 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|
Tables:
72 |
Figures:
75
Global Photonics Market Insights
Photonics Market size was valued at USD 630 billion in 2019 and is poised to grow from USD 675.69 billion in 2023 to USD 1100 billion by 2031, growing at a CAGR of 7.3% in the forecast period (2024-2031).
The field of photonics is the study of light. It examines the production, control, and perception of optical signals and photons. It is possible to explore the galaxy, help patients, and perhaps even solve crimes by using the qualities of vibrations and photons. The studying of photons with a variety of frequencies, such as gamma-rays, radio waves, X-ray, UV, and IR photons, is known as photonics.
Due to its widespread application in a variety of end-use categories, the photonics market is projected to expand dramatically over the course of the projected timeframe. Biosciences, manufacturing, electrical, communications technology, solar panels, cybersecurity, and defense are among the sectors covered. Given the rising amount of high medical and its widespread application in diagnostic imaging, the market is expected to expand over the course of the forecasted period.
In the following years, the global market for photonics will increase due to the raising worries about the security and protection of industry employees and homeland security. A further factor driving the industry's quick growth is the expanding inclination of using silicon photonics to increase transmission rate, which is being supported by the expanding semiconductor sector.
US Photonics Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Lasers
Fastest Growth
Lasers
Growth Rate
7.3% CAGR
Global Photonics Market ($ Bn)
Country Share for Aisa Pacific Region (%)
Country Share for Europe Region (%)
Global Photonics Market By Product Type ($ Bn)
Global Photonics Market By Product Type (%)
To get more reports on the above market click here to Buy The Report
Global Photonics Market Segmental Analysis
Photonics Market segmentation is based on product, application, and region. Based on product, the Photonics Market is segmented into LED, lasers, detectors, sensors & imaging devices, and others. Based on application, the Photonics Market is segmented into displays, information, photovoltaics, measure and machine vision, medical technology, production technology, lighting, communication, defense and security, and optical component. Based on region, the global photonics market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
Photonics Market Analysis by Product
In 2021, the photonics market as a whole is dominated by the LED industry. Due to their low cost and renewability, LED lights are increasingly being used in lights and displaying purposes, which will boost their market throughout the course of the projection timeframe. The LED product type sector's market share was dominated by Asia-Pacific in 2021. The increase in demand is being driven by energy-saving technologies used in areas like backlit, basic illumination, and automobiles.
Photonics Market Analysis by Application
In 2021, the market's dominant position was maintained by the displays and is expected to remain throughout the projected period. Laser-based micro-electronic manufacturing, semiconductor fabrication, and metrology are the main areas of interest for photonic applications in a different fields. Major uses include photolithography, metrology, laser-based machinery for elastic and high-density interconnects (HDIs), printed circuit boards (PCBs), drills, IC wrapping, and the manufacturing and handling of displays.
Global Photonics Market By Product Type, 2023 (%)
To get detailed analysis on other segments, Request For Free Sample Report
Global Photonics Market Regional Insights
In 2021, the Asia-Pacific held the largest share of the global photonics market. Due to the area's first-mover benefit, growing investment in Research & development activities, and increased share of inventions, the Asia-Pacific Is projected is predicted to develop quickly. China, notably, is now at the center of key breakthroughs occurring in the segment of photonics. Market expansion is expected to be fueled by the increasing use of this technology in the creation of quicker and more accurate upcoming electronic components.
The existence of digital behemoths like Facebook and Microsoft, which need to optimize data management and transfer for their numerous data centers, center expected to boost the market in North America. New software devices' crucial high-speed data analysis and transmission capabilities can both be significantly enhanced by photonics.
Global Photonics Market By Region, 2024-2031
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Global Photonics Market Dynamics
Photonics Market Driver
Advancements in Silicon Photonics to Drive Photonics Market
- Tiny silicon chips were utilized instead of copper. In addition to offering optical connectivity, silicon photonics now enables scalable computation on systems. It used to be difficult to apply the laser light supplies to the silicon, but a revolutionary way has just been developed and is presently in the preliminary stages. Because of this, growing advancements in silicon photonics have a significant influence on fostering the expansion of the world photonics market.
Growing Application of Photonics across End-Use Industry Sectors
- The use of photonics innovation is enormously beneficial in a variety of processes, and it is gradually demonstrating its adaptability. The innovation is also gaining recognition and is positioned to offer access wherever it is needed thanks to ongoing advancements in areas including bandwidth, power dissipation, & signal integrity.
Photonics Market Restraint
Government Regulations on Environmental Requirements to Hamper Performance of Photonics Goods
- Although most photonics items are ecologically friendly, some added ingredients to the devices to improve efficiency are thought to be harmful to the environment. Regulations forbid the use of substances like boron oxide and arsenic oxide because they are deemed harmful.
Request Free Customization of this report to help us to meet your business objectives.
Global Photonics Market Competitive Landscape
During the testing period, major corporations plan to concentrate on new products, changes in technology, partnerships and acquisitions, and Research and development. Leading companies are ready to spend on going global, according to the existing scenario. In order to facilitate the investigation of advanced materials, IPG Photonics has created the GLPN-500-R laser, which incorporates single-mode beam quality, short wavelength, short pulse duration, and increased power.
Top Players in the Global Photonics Market
- Hamamatsu Photonics K.K.
- Coherent Inc.
- Trumpf GmbH + Co. KG
- IPG Photonics Corporation
- Newport Corporation
- Jenoptik AG
- Thorlabs Inc.
- SCHOTT AG
- Corning Incorporated
- Nikon Corporation
- Edmund Optics Inc.
- Panasonic Corporation
- Finisar Corporation
- Zeiss Group
- Fujifilm Holdings Corporation
- Lumentum Operations LLC
- Hoya Corporation
- Canon Inc.
- II-VI Incorporated
- MKS Instruments, Inc.
Photonics Market Recent Development
- In May 2022, According to the last ams OSRAM 1mm2 chip, the OSLON Optimal family of LEDs for horticulture lighting has been introduced by ams OSRAM AG. These LEDs provide an exceptional balance of high efficiency, dependable reliability, and excellent value.
- In February 2022, Tower Semiconductor will be purchased by Intel for USD 5.4 billion, the company stated. The business will increase its foundry production capacity and add to its worldwide semiconductor manufacturing offering. As part of Intel's aggressive aspirations to grow its semiconductor foundry business, Tower Semiconductor is well recognized for substantial mergers and alliances for laser-power purposes, photonics, and semiconductor production plants in Israel.
Global Photonics Key Market Trends
- Silicon photonics technologies to increase market share in data communication. The global demand for innovation is expected to be driven by the expanding usage of optical solutions in communication networks, such as optical speed, with the sector holding a significant market share. The expenditure by telecom firms on improving the legacy systems is expected to generate growth since the expanding use of optical networks is part of the infrastructure. The first to switch over to optical fiber lines from their outdated copper wire systems were corporations. At the moment, telephone companies use optical fiber as the core architecture of their networks and as a long-distance link between the municipal phone networks.
Global Photonics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the LED sector dominated the global photonics market in 2021. In 2021, the market's dominant position was maintained by the display and is expected to remain throughout the projected period. In 2021, the Asia-Pacific held the largest share of the global photonics market due to the region’s first-mover benefit, growing investment in research & development activities.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 630 billion |
| Market size value in 2031 | USD 1100 billion |
| Growth Rate | 7.3% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Photonics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Photonics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Photonics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Photonics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Photonics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Photonics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Photonics Market Report Snapshots
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 351-333-4748
