Photonics Market by Product Type, Distribution Channel, End User 2023-2028

Author: Elena Anderson

Marketing Manager

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Global Photonics Market Research Report 2023-2028:

According to the latest report by IMARC Group, titled " Photonics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-202 8

," the global photonics market size reached US$ 801.7 Billion in 2022.

Photonics deals with the science behind light generation, detection, and manipulation. It refers to the creation, manipulation, and detection of light in practical applications wherein the particle character of light is essential. It was initially intended to describe a field where the aim was to use light to perform operations traditionally accomplished using electronics. The term became popular with the influx of fiber optic communications in the 1980s. It represents a lucrative opportunity for designing and producing devices, systems, and integrated circuits for high-speed data communications, advanced sensing, and imaging applications. Photonics is widely used in the telecommunication sector for fiber optic networks that greatly accelerate the capacity and speed of internet communications. Photonics-enabled devices are relatively cheap, extremely lightweight and compact, and offer a long service life.

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Global Photonics Market Trends:

The global market is majorly driven by the increasing product demand in medical diagnostics and lasers due to their efficiency, low power consumption, and compact size. In line with this, the rising usage of photonics-enabled devices in communication networks and computing systems is significantly contributing to the market growth. Furthermore, the rapid advancements in photonic technologies for various applications, such as spintronics and sensing, are creating a positive outlook for the market. Apart from this, the widespread application of photonics-enabled products in the information and communication, and industrial manufacturing sectors is positively influencing the market. Moreover, the growing need for energy-efficient products is catalyzing the product adoption. Besides, rapid technological advancements, such as 3D printing, displays, green photonics, photodetectors, sensors, and imaging, are strengthening the market growth. Other factors, including the rising product usage in non-invasive healthcare and the escalating preference for faster and more efficient next-generation integrated electronics, are also providing a boost to the market.

Looking forward, IMARC Group expects the market to reach US$ 1,143.7 Billion by 2028, exhibiting at a CAGR of 5.9% during 2023-2028.

View Report TOC, Figures and Tables: https://www.imarcgroup.com/photonics-market

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Key Market Segmentation

The research report includes the following segments:

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

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• Media, Broadcasting and Telecommunication

• Consumer Electronics

• Medical

• Safety and Defense

• Industrial

Breakup by Region:

• North America

• Asia Pacific

• Europe

• Latin America

• Middle East and Africa

Competitive Landscape with Key Players:

• 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)

• Teem Photonics

1. What was the size of the global photonics market in 2022?

2. What is the expected growth rate of the global photonics market during 2023-2028?

3. What has been the impact of COVID-19 on the global photonics market?

4. What are the key factors driving the global photonics market?

5. What is the breakup of the global photonics market based on the application?

6. What are the key regions in the global photonics market?

7. Who are the key players/companies in the global photonics market?

Click here to visit the complete table of content with list of figures and tables: https://www.imarcgroup.com/photonics-market/toc

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Partial List of Clients

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