Photonics Market size worth $ 915.3 Billion, Globally, by 2028 at 6.26% CAGR: Verified Market Research®

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May 31, 2022, 09:30 ET

Due to the wide applications of Photonics in industries like consumer electronics, telecommunications, healthcare, manufacturing industry, defense and security and others, will lead to the growth of the Photonics Market during forecasted period

JERSEY CITY, N.J., May 31, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Photonics Market" By Product Type (LED, Lasers, Detectors, and Sensors & Imaging Devices), Application (Display, Information & Communication Technology), and By Geography. According to Verified Market Research, Photonics Market size was valued at USD 564.01 Billion in 2020 and is projected to reach USD 915.3 Billion by 2028, growing at a CAGR of 6.26% from 2021 to 2028.

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Browse in-depth TOC on "Photonics Market"

202 - Pages

126 – Tables

37 – Figures

Global Photonics Market Overview

Advanced lighting technology, such as Solid-State Lighting (SSL) for general lighting applications, also uses photonics. SSL is based on the technologies of light-emitting diodes (LEDs) and organic light-emitting diodes (OLEDs). Furthermore, SSL lighting is of superior quality and adds to significant energy savings. Intensive production and research efforts are underway to increase SSL performance, notably in terms of energy efficiency and quality, and hence lower costs. The growing need for energy-efficient products, as well as the growing usage of photonics devices in a variety of applications, are driving the worldwide Photonics Market forward.

The strict regulation of the usage of particular chemical substances may impede the global market. Furthermore, technical improvements that lower the cost of photonics products, as well as rising demand from emerging economies, are likely to open doors for the targeted industry. Also, the use of old copper cables results in a significant reduction in data transfer volume, as the data transmitted over these cables have bandwidth constraints. This has a favorable impact on the Photonics Markets growth. As a result, the combination of silicon photonics and complementary metal-oxide-semiconductor (CMOS) solutions provides a high-speed interconnect, enabling data centers to achieve next-generation performance.

Key Developments

In February 2020, Amada (India) Pvt. Ltd had announced to launch of a new LASER technology machine ENSIS. It's a laser fiber machine with a 9kw power output. The machine uses beam modulation to control the beam and can be used to cut thick metals.
In January 2019, SiLC Technologies announced to launch of a new silicon photonics LiDAR chip an eye-safe LiDAR for a variety of uses, including autonomous vehicles, telecommunications, and more.

Key Players

The major players in the market are HOYA, Asahi Glass, SiLC Technologies., American Elements, SCHOTT, Signify, Nikon, Corning, Amada (India) Pvt. Ltd, Shin-Etsu Chemical Company, and others.

Verified Market Research has segmented the Global Photonics Market On the basis of Product Type, Application, and Geography.

Photonics Market, By Product Type

LED
Lasers, Detectors, and Sensors & Imaging Devices
Others

Photonics Market, By Application

Display
Information & Communication Technology
Medical Technology & Life Sciences

Photonics Market, By Geography

North America

U.S
Canada
Mexico

Europe

Germany
France
U.K
Rest of Europe

Asia Pacific

China
Japan
India
Rest of Asia Pacific

ROW

Middle East & Africa
Latin America

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Leading Laser Cladding Services depositing additional layers over metals for strengthening

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