PUBLISHER: Inkwood Research | PRODUCT CODE: 1006537
PUBLISHER: Inkwood Research | PRODUCT CODE: 1006537
KEY FINIDNGS
The Asia-Pacific photonics market is projected to develop with a CAGR of 8.29% during the forecasting period of 2021 to 2028. Driving forces such as the increased demand for construction, the well-established presence of leading firms, and advanced training programs launched by international research facilities primarily fuel the market growth of the region.
The Asia-Pacific photonics market assessment includes the in-depth analysis of India, Vietnam, Indonesia, Australia & New Zealand, South Korea, Thailand, China, Japan, and the rest of the Asia-Pacific. Although South Korea harbors a relatively small revenue share, the surging demand for advanced data communication technologies from data centers is anticipated to propel the country's market growth. Presently, Seoul has 15 data centers, including the South Korean giant Naver's $420 million data center. Moreover, the rising interest of institutions like the Ulsan National Institute of Science and Technology (UNIST) significantly contributes to the country's photonics market. In collaboration with the University of Maryland, researchers at UNIST incorporated silicon photonics devices with solid state single-photon emitter through the combination of silicon photonics waveguides with quantum dots.
With a vibrant data center market, Indonesia has a substantial presence of international leaders, such as SAP, as well as domestic firms like Epicor. As a result, the sector is projected to expand further on account of key aspects such as the increasing number of data centers, the entry of global data center companies in Indonesia, and the services provided by companies like cross-connect, security services, and cloud services, among others. Therefore, these factors are set to fuel the market growth over the forecast years.
Some of the top firms operating in the market are Hamamatsu Photonics KK, NEC Corporation, IPG Photonics Corp (IPG), etc.