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Global photonics market estimated to reach US$ 724.22 billion by 2021 growing at 8.4% CAGR insights shared in detailed report

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The photonics market size is estimated to reach USD 724.22 billion by 2021, at a CAGR of 8.4% between 2016 and 2021. High performance and energy saving photonics products such as high speed fiber optics communication networks and highly precise laser systems makes them preferable in various applications.

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The photonics market in the manufacturing technology application segment is projected to witness the highest growth during the forecast period. Photonics products are used in manufacturing units for cutting and welding operations using lasers.

Lasers are replacing traditional machine tools in manufacturing applications as low cost fiber laser and industrial pulse lasers are being developed.

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Photonics are also used in the manufacturing of consumer electronics such as DVD players, television, and optical mouse pointers.

Photonics Market, by Product Type:

  • LED
  • Lasers, Detectors, Sensors, & Imaging Devices
  • Optical Communication Systems & Components
  • Consumer Electronics & Devices

Photonics Market, by Application:

  • Displays
  • Information & Communication Technology
  • Photovoltaic
  • Medical Technology & Life Sciences
  • Measurement & Automated Vision
  • Lighting
  • Production Technology

The media, broadcasting, and telecommunication sector is estimated to be the largest end-use industry for photonics. The industry is growing due to rising demand for optical fibers.

Optical fibers are preferred over metallic wires due to greater safety and security. Optical fibers have witnessed an increase in demand due to investments in telecommunications and information technology and new developments in countries such as China, the U.S., India, and Western and Eastern European countries.

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This study has been validated through primary interviews with various industry experts globally. The break-up profile of primary discussion participants is given here Tier 1 (37%); Tier 2 (50%) and Tier 3 (13%) companies were contacted for interviews.

The interviews were conducted with various key people such as C Level (50%), Directors Level (31%) and other (19%) from various key organizations. The primary interviews were conducted worldwide covering regions such as North America (31%), Europe (38%), Asia-Pacific (25%) and Row (6%).

Key Target Audience:

  • Suppliers of Raw Materials
  • Manufacturers of Photonics
  • Traders, Distributors, and Suppliers of Photonics products & services
  • Government & Regional Agencies, Research Organizations, and Investors related to Photonics

Key players operating in photonics market Philips (Netherlands), Schott (Germany), Nikon Corporation (Japan), Shin-Etsu Chemical Company (Japan), Hoya Corporation (Japan), Corning (US), Asahi Glass Company (Japan), II-VI Inc. (US), Ohara Inc. (Japan), and American Elements (US).

Ask for a copy of Photonics Market by Application (Display, Photovoltaic, Lighting, Manufacturing Technology), End-use Industry (Building & Construction, Media, Broadcasting & Telecommunication, Consumer & Business Automation, Medical, Industrial) - Global Forecasts to 2021 at…ount?rname=698270 

The report offers market estimations and projections till 2021 and offers a complete study of the market dynamics. In addition, the report provides the competitive landscape with major growth strategies adopted by the key players.

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