The Global report on “Photonics Market” delivering key insights and providing a competitive advantage to clients through a detailed report. The report also details the information about the global market status, growth rate, future trends, market drivers, challenges, opportunities and porter’s forces analysis with respect to these elements. An exclusive data offered in this report is collected by research and industry experts team.
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“Photonics market expected to register CAGR of 7.1% during the forecast period.”
The Photonics s market is estimated to be USD 593.7 billion in 2020 and is projected to reach USD 837.8 billion by 2025, at a CAGR of 7.1% between 2020 to 2025. Growing application of photonics enabled products in the healthcare sector, information, communication sector, and industrial manufacturing sector are the major drivers of the global Photonics market during the forecast period.
The LED segment is the largest type of Photonics market
LED segment account for the largest share in the overall Photonics market. LED products are energy efficient and available at affordable prices—increasing usage of LED in lighting and display applications to drive its demand during the forecast period. APAC accounted for the largest market share of the LED product type segment in 2019. Energy-saving measures drive the surge in demand from applications such as general lighting, automotive, and backlighting.
Information and Communication Technology is the largest application for the Photonics market.
By application, the Photonics market is classified into seven main end use application, namely Displays, Information & communication technology, Photovoltaic, Medical Technology & Life sciences (Biophotonics), Measurement & automated vision, Lighting and Production Technology.
Photonics technology is majorly used for data generation, transformation, data transmission and storage, data conversion, and data usage in the information and communication technology application. Devices used in each of these processes are a part of the photonics materials & component industry. Also, there are services based on these processes that utilize photonics. The photonics materials & component industry includes devices used for data conversion, amplifier systems, light modulation systems (modulators, switches, and routers), and fiber optic cables.
“APAC is estimated to account for the largest market share during the forecast period. “
APAC is estimated to be the largest market for Photonics and is projected to register the fastest CAGR during the forecast period. China is expected to account for the largest share of the market in APAC by 2025. The growing photonics enabled applications, industrial activities, investment in end use industry of Photonics, and labor costs in these countries are the main drivers for the Photonics market.
Extensive primary interviews were conducted to determine and verify the market size for several segments and sub segments and information gathered through secondary research.
The break-up of primary interviews is given below:
- By Company Type – Tier 1 – 40%, Tier 2 – 30%, and Tier 3 – 30%
- By Designation – C level – 30%, Director level – 30%, and Others* – 40%
- By Region – Asia-Pacific– 40%, Europe – 20%, North America – 20%, South America- 10%, Middle East and Africa-10%
Note: The companies’ tiers are defined based on their total revenue, as of 2019: Tier 1 = >USD 5 billion, Tier 2 = USD 1 billion to USD 5 billion, and Tier 3 = < USD 1 billion.
*Others include sales managers, marketing managers, and product managers.
**Others include South America and the Middle East & Africa.
The companies profiled in this market research report include are Signify (The Netherlands), Shin-Etsu Chemical Company (Japan), Nikon Corporation (Japan), SCHOTT (Germany), Hoya (Japan), Corning (U.S), American Elements (U.S), Ohara (Japan), Asahi Glass, II-VI (U.S)
This research report categorizes the Photonics market based on type, application, end use industry, and region. The report includes detailed information regarding the major factors influencing the photonics market’s growth, such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into business overviews, products & services, key strategies, expansions, new product developments, agreements, and recent developments associated with the market.
Reasons to Buy the Report
The report will help market leaders/new entrants in this market in the following ways:
- This report segments the Photonics market comprehensively and provides the closest approximations of market sizes for the overall market and sub segments across verticals and regions.
- The report will help stakeholders understand the market’s pulse and provide them information on the key market drivers, restraints, challenges, and opportunities.
- This report will help stakeholders understand the major competitors and gain insights to enhance their business position. The competitive landscape section includes expansions, new product developments, and agreements.
- The report includes the COVID-19 impact on the Photonics market.
- The report includes both historical market size and the updated market size.
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