What is the global market size of Photonics Market?

Photonics Market size was valued at USD 630 billion in 2021 and is poised to grow from USD 675.69 billion in 2022 to USD 1100 billion by 2030, growing at a CAGR of 7.3% in the forecast period (2023-2030).

Who are the key vendors in the Global Photonics Market?

During the testing period, major corporations plan to concentrate on new products, changes in technology, partnerships and acquisitions, and Research and development. Leading companies are ready to spend on going global, according to the existing scenario. In order to facilitate the investigation of advanced materials, IPG Photonics has created the GLPN-500-R laser, which incorporates single-mode beam quality, short wavelength, short pulse duration, and increased power. 'Hamamatsu Photonics K.K.', 'Coherent Inc.', 'Trumpf GmbH + Co. KG', 'IPG Photonics Corporation', 'Newport Corporation', 'Jenoptik AG', 'Thorlabs Inc.', 'SCHOTT AG', 'Corning Incorporated', 'Nikon Corporation', 'Edmund Optics Inc.', 'Panasonic Corporation', 'Finisar Corporation', 'Zeiss Group', 'Fujifilm Holdings Corporation', 'Lumentum Operations LLC', 'Hoya Corporation', 'Canon Inc.', 'II-VI Incorporated', 'MKS Instruments, Inc.'

What is the key driver of Global Photonics Market?

Growing Application of Photonics across End-Use Industry Sectors

What is the key market trend for Global Photonics Market?

Silicon photonics technologies to increase market share in data communication. The global demand for innovation is expected to be driven by the expanding usage of optical solutions in communication networks, such as optical speed, with the sector holding a significant market share. The expenditure by telecom firms on improving the legacy systems is expected to generate growth since the expanding use of optical networks is part of the infrastructure. The first to switch over to optical fiber lines from their outdated copper wire systems were corporations. At the moment, telephone companies use optical fiber as the core architecture of their networks and as a long-distance link between the municipal phone networks.

Which region accounted for the largest share in Global Photonics Market?

In 2021, the Asia-Pacific held the largest share of the global photonics market. Due to the area's first-mover benefit, growing investment in Research & development activities, and increased share of inventions, the Asia-Pacific Is projected is predicted to develop quickly. China, notably, is now at the center of key breakthroughs occurring in the segment of photonics. Market expansion is expected to be fueled by the increasing use of this technology in the creation of quicker and more accurate upcoming electronic components.

Photonics Market Size, Share, Growth Analysis, By Product Type(LED, Lasers, Detectors, and Sensors & Imaging Devices), By Application(Display [Display in Mobile Devices, Display in Televisions], Information & Communication Technology [Data Transmission, Data Storage]), By End-use Industry(Building & Construction [Smart Cities Construction], Media, Broadcasting & Telecommunication, Consumer & Business Automation), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45K2073 | Region: Global | Published Date: September, 2024
Pages: 165 | Tables: 72 | Figures: 75

Photonics Market Competitive Landscape

Top Players in the Global Photonics Market

Signify (Netherlands)
Schott (Germany)
Shin-Etsu Chemical Company (Japan)
Nikon Corporation (Japan)
Hoya (Japan)
Corning (US)
American Elements (US)
Ohara (Japan)
Asahi Glass (Japan)
II-VI (US)
Huawei Technologies (China)
Cisco Systems (US)
Coherent Inc. (US)
Trumpf GmbH (Germany)
General Electric Company (US)
Hitachi (Japan)
Emerson (US)
Siemens (Germany)
LG Display Co., Ltd. (South Korea)
Samsung Electronics (South Korea)
Innolux (Taiwan)
OSRAM Licht (Germany)
Trina Solar (China)
IPG Photonics (US)

Photonics Market Recent Development

November 2023 - Ams OSRAM AG adds Red, True Green and Blue colors to its OSTAR Projection Compact family of low-profile ultra-high brightness LEDs, empowering designers of machine vision systems or stage lighting installations. OSTAR Projection Compact LEDs have excellent thermal absorption and can be installed very closely in high-power lighting systems due to the small thin object.
September 2023 - IPG Photonics Corporation announced a new dual-beam laser with the highest single-mode core power at The Battery Exhibition in Novi, Mich. It delivers unprecedented speed and performance improvements for battery welding, including spatter-free welding Up to 2X faster than possible with low core power.
September 2023 - Ames Osram AG and Investment and Development Authority of Malaysia (MIDA) announced mutual support for continued investment and expansion in Malaysia. Through collective bargaining, MIDA expressed overwhelming support for Ams OSRAM’s program in Malaysia.

Photonics Market Report Snapshots

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Global Photonics Market size was valued at USD 426 billion in 2022 and is poised to grow from USD 456.67 billion in 2023 to USD 796.46 billion by 2031, growing at a CAGR of 7.20% during the forecast period (2024-2031).

The photonics marketplace is characterized by intense competition, driven by rapid technological advancements and the expanding use of photonics across diverse industries, including telecommunications, healthcare, and automotive. These companies focus on expanding their product lines and innovating in areas such as laser technology, optical sensors and fiber optics. Strategic partnerships, mergers and acquisitions are common, enabling companies to increase their R&D capacity and geographic reach. In addition, smaller companies and start-ups are emerging, offering niche solutions for specific applications such as quantum computing, autonomous vehicles, etc. Technological advances, specific applications and increasing demand for high-speed data shape the and the growing demand for high-speed data transmission. 'Signify (Netherlands) ', 'Schott (Germany) ', 'Shin-Etsu Chemical Company (Japan) ', 'Nikon Corporation (Japan) ', 'Hoya (Japan) ', 'Corning (US) ', 'American Elements (US) ', 'Ohara (Japan) ', 'Asahi Glass (Japan) ', 'II-VI (US) ', 'Huawei Technologies (China) ', 'Cisco Systems (US) ', 'Coherent Inc. (US) ', 'Trumpf GmbH (Germany) ', 'General Electric Company (US) ', 'Hitachi (Japan) ', 'Emerson (US) ', 'Siemens (Germany) ', 'LG Display Co., Ltd. (South Korea) ', 'Samsung Electronics (South Korea) ', 'Innolux (Taiwan) ', 'OSRAM Licht (Germany) ', 'Trina Solar (China) ', 'IPG Photonics (US)'

One of the major drivers of the photonics market is the increasing demand for high-speed data connections. Faster and more efficient data communication systems are needed due to the proliferation of smartphones, cloud computing, Internet of Things (IoT). Optical fibers offer a solution to this growing demand with the ability to transmit more data at the speed of light to optimize its system to handle the increasing traffic. As businesses and consumers embrace 5G networks and beyond, optics will become increasingly important to enable faster and more reliable data transfers.

Widespread Applications of Photonics in Quantum Computing: One of the most important trends driving the optics market is its integration into the field of quantum computing. Light-based quantum computing has the potential to revolutionize data processing and problem-solving capabilities, with light-based qubits providing faster, more robust performance compared to traditional electronics. Companies and research institutions are using quant. and investing heavily in photonics research for applications, and it is expected that this trend, aimed at addressing current computing limitations, will drive innovation in the lighting industry and open new revenue streams, especially when quantum computers are approaching the business.

North America plays a key role in the global photonics market, with strong investments in R&D, cutting-edge technology infrastructure and strong demand in the telecom, healthcare and security industries, leading innovation in optical communications systems, laser technology, and quantum computing. The industry benefits from a very popular telecommunications industry, which fuels demand for high-speed fiber optics and data communication technologies. In addition, the North America focus on medical advances has led to growth in ophthalmic applications in diagnostic imaging laser surgery, especially government programs and funding for defense and aerospace research further solidifies North America dominance in optics.

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Photonics Market Competitive Landscape

Photonics Market Report Snapshots

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What is the global market size of Photonics Market?

Who are the key vendors in the Photonics Market?

What is the key driver of Photonics Market?

What is the key market trend for Photonics Market?

Which region accounted for the largest share in Photonics Market?

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