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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Photonics Market Size
The global photonics market reached approximately USD 741.65 billion in 2023. The market is projected to grow at a CAGR of 7.5% between 2024 and 2032, reaching a value of around USD 1421.38 billion by 2032.
Key Takeaways
- Photonics has the capability to revolutionise various sectors by enhancing efficiency, precision, and capabilities of manufacturing processes and operations.
- Photonics and photonics-powered solutions support data communication systems by enabling data transmission over optical fibres, which carry information encoded in light pulses.
- In surveying and detection, photonics is used primarily for its precision, non-invasiveness, and ability to cover large distances quickly.
Photonics refers to the science of light as it controls, detects, and produces photons and light waves or light particles. It encompasses the study of the application of light across various spectrums, from infrared to visible and ultraviolet regions. Photonics also involves the use of light (photons) to perform functions that traditional electronics (electrons) do, including communications, information processing, lighting, and sensing, among others.
The rising demand for energy-efficient products and the increasing use of photonic products in different applications are the major drivers propelling the photonics market growth. Another major driving force for the market is its rising application in silicone-based photonics. For telecommunications and data centre applications, hybrid silicon lasers (silicon and group III-V semiconductor) are used, which benefit from the luminous properties of III-V semiconductor materials. The technological progress of light-based technologies has driven a new wave of innovation by offering sustainable solutions to various challenges.
Photonics Market Report Snapshots
Photonics Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market attained a value of approximately USD 741.65 billion.
The market is projected to grow at a CAGR of 7.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach around USD 1421.38 billion by 2032.
The major drivers of the market are the rising demand for energy-efficient products and the increasing use of photonic products in diverse applications.
The key trends guiding the growth of the market include the technological progress of light-based technologies, sustainable solutions, and growing applications in healthcare sectors.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
LED, lasers, detectors, and sensors and imaging devices, optical communication systems and components, and consumer electronics and devices, among others, are the leading types of photonics in the market.
Surveying and detection, production technology, data communication, image capture and display, medical technology, and lighting, among others, are the significant applications of photonics.
Building and construction, media, broadcasting and telecommunication, consumer and business automation, medical, security and defence, and industrial, among others, are the major end uses of photonics in the market.
The major players in the market are Schott AG, Nikon Corporation, Hoya Corporation, Corning Incorporated, Intel Corporation, Ohara Corporation, and Hamamatsu Photonics K.K., among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124