Photonics Market Forecast Report & Size, 2015 – 2024
Frank n Raf's this report focuses on The global photonics market was valued at over USD 600 billion in 2015 and in 2024 it is expected to reach USD 979.90 billion. It has witnessed a radical change in the technology of photonics in the recent past, based on the research activities performed. The photonic technology has been developed and implemented in many verticals. The advances in the global photonics market have been driven due to the developments in the field of fiber optics. The introduction of electricity has given a boost to the conversion. The advancement of optics reached the peak point of the use of electric bulbs and primeval lamps to the highly advanced lasers.
The global photonics market has started developing products that are eco-friendly. These products are expected to be developed and introduced over the next few years. Some of the major factors driving the global photonics market include a better substitute for the conventional technology, increased requirement for higher security and safety solutions, and growth in the wireless technology. On the contrary, lack of awareness among the consumers, lack of technological and industrial standards, and the requirement for huge initial capital investment negatively influenced by development of overall photonics market growth.
Photonics is the most important technology for the advent of newest smart systems. Omnipresent is the application of Photonics. From the regular everyday life to the highly advanced science, photonics finds application in lighting, visual art, light detection, information processing, holography,production technologies, agriculture, photonic sensors, robotics, medicine (vision correction, health monitoring, surgery, endoscopy), telecommunications, laser material processing, metrology, displays, spectroscopy,defense technologies, bio-photonics, and photovoltaic.
Photonics include the generation of light, switching, detection, emission and modulation. additionally Photonics involves all uses of light across the spectrum, extending from ultraviolet to visible light.
The application section of photonics includes displays, communication, sensing, consumer electronics, defense and safety technology, and metrology. Adding to it, photonics find application in high-performance computing segment and health and medical care.
Global photonics markets fastest growing segment is medical and health care.
The most important products of photonics include waveguides, optical interconnects, wavelength division multiplexer filters, lasers, spectroscopes, optical modulators, LED (light emitting diode), amplifiers and photo detectors. Equipment based on photonics are comparatively cheaper than the conventional devices.
The factors that run the global photonics market include the high-speed electronics and lesser consumption of power. Photonics most important product is wavelength division multiplexer filter. Growing demand for high-speed communication is one of the key factors responsible for boosting the demand for wavelength division multiplexers. Regulations shift towards Energy Efficient Equipment, the requirement for high-speed transfer of data, storage systems, and development in the emerging economies these all are the factors which benefit the global photonics market.
However, huge initial investments, counterfeit techniques, technical obsolescence, lack of proper international standards, and awareness and slow rate of adoption, among the consumers are the various factors which may hamper the growth of the overall photonics market.
North America accounted for the highest market share globally on account of growing demand for quick diagnostics along with demand for high-speed computing. Furthermore, factors including rising need for quick and fast diagnosis and high demand for negligible hostile surgery are also anticipated to fuel the demand for the global photonics market. The market is poised for growth owing to the increasing geriatric population levels.
Asia-Pacific is projected to witness the fastest rate of growth over the forecast period due to factors such as growing industrial development of emerging nations of China, South Korea, India, and Malaysia. In this area, initiatives taken in factors that promote the development of photonics market are increased By the government, investment and huge capitalization. By the major industry participants and improving facilities for health care.The basic companies of the photonics market produce LEDs, detectors, lenses, optical filters, fiber optics, photonic components, materials, lasers, image sensors, prisms, and gratings.
The major industry participants making huge investments and venturing into the global photonics market include Hewlett-Packard Company, Finisar Corporation, Luxtera Inc., 3S Photonics, S.A.S., Intel Corporation, Hamamatsu Photonics K.K., Innolume GmbH, Photonics,. IBM Corp.The key strategies of these companies include investing into the research & development activities and mergers & acquisitions.
Market Segmentation
Photonics Product Outlook (Revenue, USD Billion, 2015 - 2024)
- Waveguides
- Optical modulators
- Optical interconnects
- LEDs
- Wavelength Division Multiplexer (WDM) filters
- Photo detectors
- Lasers
Amplifiers Photonics Application Outlook (Revenue, USD Billion, 2015 - 2024)
- Consumer electronics
- Displays
- Safety & defense technology
- Communication
- Metrology
- Sensing
- Medical & healthcare
High-performance computing Photonics Regional Outlook (Revenue, USD Billion, 2015 - 2024)
- North America
- Europe
- Asia Pacific
- RoW
Request sample copy of report @ https://franknraf.com/sample-report/?rpt_id=6367
Table of Contents
- Methodology and Scope
- Executive Summary
- Photonics Industry Outlook
- Photonics Product Outlook
- Photonics Application Outlook
- Photonics Regional Outlook
- Competitive Landscape
Browse more details of report at, https://franknraf.com/reports/photonics-market-size-forecast-report-2015-2024/
Related Report
Global TFT LCD Display Modules Market Outlook 2018-2023
About Frank n Raf Market Research:
Frank n Raf Market Research is one of the fastest growing companies in Market Research and Consulting Services. Our Company has headquartered in Pune, India and soon will be in the United States of America. We provide Customized Research Reports, Syndicated Research Reports and we have expertise in Consulting Services.
Contact Us:
Frank n Raf Market Research LLP
401 – ‘A’ Wing, Amar Synergy,
Sadhu Vaswani Chowk,
Pune Station, Pune – 411 001.
US: +1 347-321-6773
Email: info@franknraf.com
Website: www.franknraf.com
#Photonicsmarket #Research #ResearchReport #MarketResearchReport #MarketSize #MarketValue