Photonics Market Report: Trends, Forecast and Competitive Analysis

Photonics Market Trends and Forecast

The future of the global photonics market looks promising with opportunities in the display, information & communication technology, photovoltaics, medical technology & life science, measurement & automated vision, lighting, and production technology markets. The global photonics market is expected to reach an estimated $1,304.6 billion by 2030 with a CAGR of 5.7% from 2024 to 2030. The major drivers for this market are increasing adoption of photonics products in various applications in developing countries, rising need for energy-efficient products, and rising proliferation of cloud-based services and data centers across the globe.

A more than 150-page report is developed to help in your business decisions. To learn the scope, benefits, companies researched and other details of the global photonics market report.

Photonics Market by Segment

The study includes a forecast for the global photonics market by type, application, and region

Photonics Market by Type [Shipment Analysis by Value from 2018 to 2030]:

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

Photonics Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Display
• Information & Communication Technology
• Photovoltaics
• Medical Technology & Life Sciences
• Measurement & Automated Vision
• Lighting
• Production Technology

Photonics Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Photonics Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies photonics companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the photonics companies profiled in this report include-

• Signify
• Shin-Etsu Chemical Company
• Nikon Corporation
• SCHOTT
• Hoya
• Corning
• American Elements
• Ohara
• Asahi Glass

Photonics Market Insights

Lucintel forecasts that LED will remain the largest segment over the forecast period due to its cost-effective pricing and growing utilization of LEDs in lighting, and display functions.

Within this market, information and communication will remain the largest segment due to growing adoption of photonics in data generation, transformation, data transmission and storage, data conversion, and data usage.

APAC will remain the largest region over the forecast period due to increasing industrial activities and growing research and development activities in the region..

Features of the Global Photonics Market

Market Size Estimates: Photonics market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Photonics market size by various segments, such as by type, application, and region in terms of value ($B).

Regional Analysis: Photonics market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the photonics market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the photonics market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q.1 What is the photonics market size?

Answer: The global photonics market is expected to reach an estimated $1,304.6 billion by 2030.

Q.2 What is the growth forecast for photonics market ?

Answer: The global photonics market is expected to grow with a CAGR of 5.7% from 2024 to 2030.

Q.3 What are the major drivers influencing the growth of the photonics market ?

Answer: The major drivers for this market are increasing adoption of photonics products in various applications in developing countries, rising need for energy-efficient products, and rising proliferation of cloud-based services and data centers across the globe.

Q4. What are the major segments for photonics market ?

Answer: The future of the photonics market looks promising with opportunities in the display, information & communication technology, photovoltaics, medical technology & life science, measurement & automated vision, lighting, and production technology markets.

Q5. Who are the key photonics market companies?

Answer: Some of the key photonics market companies are as follows.

• Signify
• Shin-Etsu Chemical Company
• Nikon Corporation
• SCHOTT
• Hoya
• Corning
• American Elements
• Ohara
• Asahi Glass

Q6. Which photonics market segment will be the largest in future?

Answer: Lucintel forecasts that LED will remain the largest segment over the forecast period due to its cost-effective pricing and growing utilization of LEDs in lighting, and display functions.

Q7. In photonics market , which region is expected to be the largest in next 5 years?

Answer: APAC will remain the largest region over the forecast period due to increasing industrial activities and growing research and development activities in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the photonics market by type (LED, lasers, detectors, sensors and imaging devices, optical communication systems & networking components, and consumer electronics & devices), application (display, information & communication technology, photovoltaics, medical technology & life sciences, measurement & automated vision, lighting, and production technology), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?