Photonics Market: Introduction
Transparency Market Research delivers key insights on the global photonics market. In terms of revenue, the global photonics market is estimated to expand at a CAGR of ~8% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global photonics market.
The global photonics market is broadly affected by several factors, including usage of photonics in the information technology sector and increasing applications in the consumer electronics sector. Thus, expanding applications of photonics in different sectors is propelling the global market for photonics.
Major Key Players of the Photonics Market are:
American Elements, Asahi Glass Company, Corning, Inc., Hoya Corporation, II-VI Inc., Koninklijke Philips N.V., Nikon Corporation, Ohara Corporation, Schott AG, and Shin-Etsu Chemical Co., Ltd.
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Photonics Market: Dynamics
Photonics is the science of generating, controlling, and detecting photons, which are particles of light. Photonics application use the photon in the same way that electronic applications use the electron. Thus, devices that run on light have a number of advantages over those that use electricity, as light travels at about 10 times the speed that electricity does. Thus, data transmitted via photonics technology can travel long distances in a fraction of the time. On the basis of product type, the photonics market is segmented into LED; laser, sensor, detectors & imaging devices; optical communication systems & components; and others. In the photonics market, demand for optical communication systems & components is on the rise around the globe due to its increasing use in consumer electronics, and media & telecommunication industry.
Photonics are extensively used in the consumer electronics industry, as it transmits the signals 10 times faster than electrical signals. The demand for handheld devices (smartphones, tablets, and others) have resulted in widespread usage of photonic devices in the consumer electronics industry, owing to this factor. Photonics are also used in information technology applications to increase the speed of communication network. Additionally, photonics are prominently used in optical components & systems applications to transmit the data through fiber optics at high speed. Among applications, information technology is anticipated to reach value of US$ 349.83 Bn by 2030 at the highest CAGR of 8.33% during the forecast period.
Global Photonics Market: Segmentation
Photonics Market, by Product Type
- LED
- Laser, Sensor, Detectors & Imaging Devices
- Optical Communication Systems & Components
- Others
Photonics Market, by Application
- Measurement & Image Processing
- Communication
- Information Technology
- Display
- Lighting
- Defense & Security
- Optical Components & Systems
- Photovoltaic
- Production Technology
Photonics Market, by End-use Industry
- Medical
- Industrial
- Defense
- Consumer Electronics
- Media & Telecommunication
- Others
Photonics Market: Overview
- According to Transparency Market Research’s latest research report on the global photonics market for the historical period 2018–2019 and the forecast period 2024–2030, the increasing usage of photonics in consumer electronics and media & telecommunication sectors to transmit data over long distances in a fraction of time in information technology and communication applications is estimated to boost the global photonics market during the forecast period
- In terms of revenue, the global photonics market is expected to exceed value of US$ 1.4 Trn by 2030, expanding at a CAGR of ~8% during the forecast period
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Photonics Market: Key Developments
- Key providers of photonics, such as American Elements, Corning, Inc., Hoya Corporation, and Schott AG are focusing on the construction of cost-effective photonics to attract more customers. Some other key developments in the global photonics market are highlighted below:
- In 2024, Corning Inc. launched varioptic liquid lenses – A-58N, designed specifically for variable focus. A-58N variable focus lens is well suited for industrial vision and optical equipment.
- In July 2024, Hoya Corporation launched sensitive fast light reactive lenses in the photochromic category, which rapidly changes from dark to clear
- In September 2024, Schott AG acquired INCOM, Inc.’s MEGAdraw business. With this acquisition, Schott expands its portfolio of fiber optic imaging technologies at its Lighting and Imaging production site in Southbridge.
- In 2018, American Elements launched a new industrial scale produced vacuum melted and rolled high purity beryllium and beryllium oxide (BeO) foil, sheet, and plate
- In the global photonics market report, we have discussed individual strategies, followed by company profiles of providers of photonics. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global photonics market.
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