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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Photonics Market Analysis by Region
The demand for photonics in North America is strong and growing, driven by several key factors and applications across various end-use sectors. The internet and telecommunications heavily rely on optical fibre technologies, which are a cornerstone of photonics. The demand for higher bandwidth and faster data transmission rates in North America has led to increased investments in upgrading and expanding fibre optic networks. The ongoing rollout of 5G technology and the expansion of data centre capacities further fuel this demand. Moreover, the defence and security sector in North America, particularly in the United States, invests heavily in photonics for applications ranging from night vision systems and laser-based communication to surveillance and guidance systems.
The Europe photonics market is robust, driven by a strong emphasis on innovation and sustainable development. The healthcare sector in Europe is a major driver of photonics demand, with applications ranging from medical diagnostics and imaging to therapeutic devices and minimally invasive surgeries. Europe's focus on advanced healthcare solutions and personalised medicine has spurred the development and adoption of photonic technologies in biophotonics, including lab-on-a-chip devices and optical biosensors.
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