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Photonics Market Trends, Revenue, Outlook, and Overview 2022-27

he latest research study “Photonics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global reached US$ 744.38 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 1,080.05 Billion by 2027, exhibiting a growth rate (CAGR) of 6.15% during 2022-2027.
Photonics represents a technology or an area of study that deals with the science of generating, detecting, controlling, and manipulating photons, radiant energies, light, etc. It is considered a subset of various optic disciplines, including geometrical, physical, quantum, etc. In line with this, photonics includes a light-emitting diode (LED), imaging devices, lasers, sensors, and detectors as standard product types. These photonics-enabled equipment offer higher energy efficiency, a longer life span, better accuracy, and faster operations than their counterparts. It ensures data transmission, generates less heat, minimizes energy consumption cost-effectively, etc. Consequently, photonics finds extensive applications in displays, photovoltaics, machine vision, image processing, optical components, medical technologies, etc.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Photonics Market Trends and Drivers:
The rising utilization of additive manufacturing (AM) to produce complex components and prototype tools is primarily driving the photonics market. Furthermore, continuous enhancements in the healthcare infrastructures and the escalating demand for non-invasive disease detection that have facilitated the uptake of photonics in imaging techniques and point-of-care technologies are acting as significant growth-inducing factors. Apart from this, the widespread adoption of these solutions in medical and biological research for drug development, medical imaging, laser beam diagnostics, optical coherence tomography (OCT) scanning, etc., to detect health conditions is also positively influencing the global market. Moreover, the inflating need for photonic-enabled connected services is further augmenting the market growth. Besides this, the introduction of residential security systems, amplifiers, switches, light modulation devices, light detection and ranging (LiDAR), and the increasing integration of the Internet of Things (IoT) solutions are expected to fuel the photonics market over the forecasted period.
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Photonics Market Report Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
ams-OSRAM AG, Genia Photonics Inc., Hamamatsu Photonics, II-VI Incorporated, Infinera Corporation, Intel Corporation, IPG Photonics, Koninklijke Philips N.V., Ocean Insight (Halma plc) and Teem Photonics.
The report has been segmented the market into following categories:
Breakup by Type:
LED
Lasers, Detectors, Sensors and Imaging Devices
Optical Communication Systems and Components
Others
Breakup by Application:
Surveying and Detection
Production Technology
Data Communication
Image Capture and Display
Medical Technology
Lighting
Others
Breakup by End User:
Building Construction
Media, Broadcasting and Telecommunication
Consumer Electronics
Medical
Safety and Defense
Industrial
Breakup by Region:
North America: (United States, Canada)
Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa
Key highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022- 2027)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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