Photonics Market is Expected to Reach USD 765.89 Billion in 2020: Transparency Market Research
Transparency Market Research includes new market research report “Photonics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020″ to its huge collection of research reports.
According to a new market report published by Transparency Market Research “Photonics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020” the market was valued at USD 509.75 billion in 2013, which is expected to reach USD 765.89 million by 2020, growing at a CAGR of 5.8% from 2014 to 2020. All the applications of light across the light spectrum, ranging from ultraviolet to visible light are covered under the scope of photonics. It finds applications across consumer electronics, displays, safety and defense technology, communication, metrology and sensing among others. In addition, the various products of photonics including waveguides, optical modulators, optical interconnects, LED, wavelength division multiplexer filters, photo detectors, lasers, amplifiers and spectroscopes among others are also gaining wide acceptance.
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The prices of photonics based instruments being on the lower side compared to conventional devices is one of the major factors fueling the demand for photonics based instruments globally. Furthermore, the application of photonics based instruments in medical and healthcare segment is also boosting the demand for photonics based instruments. The demand for fast and early diagnosis and minimally invasive surgery are boosting the photonics based instruments globally.
Wavelength division multiplexer filter is one of the major product segments for photonics based instruments. Increasing demand for high speed communication is the major factor boosting the demand for wavelength division multiplexers. In addition, medical and healthcare is one of the fastest growing application segments for photonics based instruments. Aging population is driving the demand for photonics based instruments globally in medical and healthcare segment.
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North America is the largest market for photonics at present. Presence of large number of business utilities coupled with demand for high speed computing and communication are boosting the photonics market in North America. However, Asia Pacific is the fastest growing market for photonics globally. India, China and Japan are some of the major countries supporting the demand for photonics based instruments in Asia Pacific.
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The photonics market is lead by few major players. High capital requirement and rapidly changing technology are the major factors inhibiting new entrants from entering the photonics market. Intel Corporation, Hewlett-Packard Company, Hamamatsu Photonics K.K., Finisar Corporation, IBM Corp., Luxtera Inc., Infinera Corp., 3S Photonics S.A.S. and Innolume GmbH among others are some of the key players operating in the photonics market.
Photonics Market: By Product
Wavelength Division Multiplexer Filters
Photonics Market: By Application
Safety and Defense Technology
Medical and Healthcare
High Performance Computing
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