Global Photonics Market Analysis By End User (Aerospace, Entertainment, Industrial, Military, Automotive, Healthcare)
2021 - 2028 Global Photonics Market
The Global Photonics Market is accounted for $657.75 billion in 2021 and is expected to reach $1196.95 billion by 2028 growing at a CAGR of 10.3% during the forecast period. Photonics is a technology for generating and harnessing the light and other forms of energy which has quantum structure of photon. Photonics technology is used for lasers, optics, fiber-optics, and electro-optical devices among others. Purposes such as modulation, transmission, signal processing, switching, amplification, and sensing can be done through photonics. Information and Communication Technologies (ICTs) segment is expected to be the largest during the forecast period, due to increasing number of internet users, increase of data usage, and technological advancements such as high-speed optical fiber internet connectivity and digitization. The Asia Pacific is projected to hold the highest market share, due to the presence of emerging economies such as China and India and the availability of a cheap workforce coupled with favourable government initiatives. North America is projected to have the highest CAGR, owing to the growing demand for a high-speed connection and increasing utilities in the business sector.
Some of the key players profiled in the Photonics Market include Trumpf Group, Redfern Integrated Optics, Luxtera, Inc, IPG Photonics, Innolume GmbH, Infinera Corporation, Huawei Technologies, Hamamatsu Photonics, Genia Photonics, Inc, General Electric Company, Finisar Corporation, Emerson, Coherent Inc, Cisco Systems, 3SP Technologies, and Signify N. V.
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