Global Photonics Market size was valued US$ XX Mn in 2019 and the total revenue is expected to grow at 6.83 % through 2020 to 2027, reaching US$ XX Mn. The report has covered Country market trends with competitive landscape.
Global Photonics Market Overview:
The growth of optics has touched its zenith with highly progressive contemporary lasers gradually replacing traditional electric bulbs & primitive lamps. Developments in optics have made speedy strides in the photonics-based field in the last few years & are further increase the technological horizons.
New photonic-enabled connected services & products are estimated to be introduced & are projected to have positive effects on organizational as well as customer activities. The rise of flat-screen displays & the growing use of the photonic-enabled high-speed internet has significantly transformed the dynamics of the market. Photonics is a Key Enabling Technology (KET) in the ICT vertical due to its advantages & high economic development through many industries.
The industry is categorized by the presence of considerable development opportunities during the forecast period. The developing trend in the industry is the commercialization of eco-friendly photonic-based renewable energy sources, like solar cells. Although other developments, like flexible PV-based on plastic electronics, compromise lower efficiencies, they are expected to decrease the procurement cost, consequently leading to the mass usage of solar cells on the exterior cladding of buildings, cars, & clothing.
However, high initial investments related to photonic-enabled technologies are anticipated to challenge market development during the forecast period. The high value of technology has controlled the slow adoption rates of photonics-based produces among the overall population. Moreover, technological obsolescence & increasing demand for counterfeit technology are anticipated to challenge market development during the forecast period.
The demand for photodetectors is supposed to raise at a major rate during the forecast period. Photodetectors are being gradually used in many devices as they enable greater interaction in the machine setting interface. These devices are a low-volume & low-mass substitute for large traditional detectors & sensors. High brightness LEDs are transforming the lighting industry & are projected to drive the market for LEDs during the forecast period. The demand for high-brightness LEDs has developed over the last few years due to their broad application base. The developing trend in the sector is the integration of LEDs with television backlights & mobile phones to boost their lighting, display, as well as energy efficiency. These products are dangerous for the further progress of a low carbon economy.
The display sector is projected to retain its dominance during the forecast period due to its broad application base, with biosources, discrete & integrated optical components, PV & solar cells, supercontinuum sources & laser, image sensors, optical fibers, & LEDs. The application of photonics-based components in displays delivers improved energy efficiency & light beams by using the flow of incident light source. High-performance is a relatively innovative application of photonics & is not matured. The market is thus supposed to witness substantial growth during the forecast period due to increasing growth in the high-performance computing application segment. The development in this segment can be attributed to an extensive rise in computational power over the past few years. The growing amount of managed data coupled with the need for high computational speed is anticipated to drive the demand for photonic in high-performance computing during the forecast period.
The objective of the report is to present a comprehensive analysis of the Global Photonics Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Photonics Market dynamics, structure by analyzing the market segments and project the Global Photonics Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Raw material portfolio, growth strategies, and regional presence in the Global Photonics Market make the report investor’s guide.
Global Photonics Market, By Product Type
• Optical Communication Systems & Components
• Consumer Electronics & Devices
• Lasers, Detectors, Sensors, & Imaging Devices
Global Photonics Market, By End-Use Industry
• Consumer & Business Automation
• Safety & Defense
• Industrial Building & Construction
• Media, Broadcasting & Telecommunication
Global Photonics Market, By Application
• Information & Communication Technology
• Medical Technology & Life Sciences
• Measurement & Automated Vision
• Production Technology
Global Photonics Market, by Region
• North America
• MEA & Africa
• Latin America
Global Photonics Market Key Players
• 3SP Technologies
• Coherent, Inc.
• Finisar Corporation
• Genia Photonics, Inc.
• Hamamatsu Photonics
• Infinera Corporation
• Innolume GmbH
• IPG Photonics
• Luxtera, Inc.
• Redfern Integrated Optics
• Huawei Technologies
• Cisco Systems
• Coherent Inc
• Trumpf Group
• General Electric Company
• Toshiba Medical Systems Corporation (Toshiba Corporation)
• LG Display Co., Ltd.
• Samsung Electronics
• Osram Licht
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