Photonics Market
Growth Factors of Photonics Market
The global photonics market size was valued at USD 920.56 billion in 2023 and is projected to grow from USD 983.51 billion in 2024 to USD 1642.61 billion by 2032, exhibiting a CAGR of 6.7% during the forecast period of 2024-2032.
The COVID-19 pandemic disrupted the Photonics Market with supply chain troubles and decreased calls for sectors like manufacturing. However, accelerated reliance on virtual verbal exchange and healthcare technology at some stage in lockdowns drove demand for photonics in areas along with facts verbal exchange and clinical gadgets, helping the marketplace improve and impeding the photonics market growth.
A growing call for high-pace record transmission, improvements in healthcare imaging, and extended use in precision production drive the photonics market. Expanding packages in intelligent gadgets, energy-green answers, and sectors like car and defence, along with fibre optics and laser generation improvements, further the gasoline market increase.
Optoelectronics integration is a crucial fashion inside the photonics market, allowing the development of smaller, extra green, and fee-effective optical devices. Photonic-incorporated circuits (PICs) integrate more than one photonic component onto an unmarried chip, similar to how digital-included circuits combine digital additives, expanding the photonics market share globally. This integration offers decreased length, improved overall performance, and lower manufacturing expenses. Silicon photonics is a promising technique that leverages current silicon semiconductor manufacturing strategies to supply photonic gadgets. This compatibility with established production techniques can boost the development and commercialisation of photonic technologies.
Comprehensive Analysis of Photonics Market
The Photonics Market is segmented by utility into displays, statistics, photovoltaics, measure and machine vision, medical generation, manufacturing technology, lighting, communication, protection and protection, and optical components. Displays preserve the most significant proportion and are expected to dominate at some stage in the forecast length due to extensive use in industries like microelectronics, semiconductor fabrication, and metrology. Photonics also performs a key position in laser-primarily based production, military navigation, sensing, and imaging structures. Fibre-based optical interconnects support high-speed data transmission in information facilities, even though bulk optical components face energy and fee-demanding situations.
The Asia Pacific region led the photonics market by benefitting a size of USD 581.75 billion in 2023 due to the region's first-mover benefit and increasing funding in R&D and innovations; the marketplace in Asia Pacific is predicted to revel in a fast increase.
The leading players in the Photonics Market significantly influence its growth trajectory and set industry standards. These key players, including TRUMPF (Germany), Hamamatsu Photonics K.K. (Japan), IPG Photonics Corporation (U.S.), Molex (U.S.), Innolume (Germany), II-VI Incorporated (U.S.), NeoPhotonics Corporation (U.S.), One Silicon Chip Photonics Inc. (Canada), NKT Photonics A/S (Denmark), AIO CORE (Japan), SICOYA GMBH (Germany), and RANOVUS (Canada), contribute to a competitive landscape, driving innovation and market advancement.
In March 2024, VLC Photonics, a subsidiary of the Hitachi institution, partnered to offer layout and trying out services utilising the OpenLight manner design kit (PDK) for growing photonic integrated circuits (PICs). This collaboration has a superior range of designs that OpenLight can accommodate on Tower Semiconductor's PH18DA method, fostering improvements throughout more than one application and market sector within the silicon photonics enterprise.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Unit Value (USD Billion)
Growth Rate CAGR of 6.7% from 2024 to 2032
Segmentation By Application
- Displays
- Information
- Photovoltaics
- Measure and Machine Vision
- Medical Technology
- Production Technology
- Lighting
- Communication
- Defense and Security
- Optical Component
By Region
- North America (By Application, By Country)
- U.S. (By Application)
- Canada (By Application)
- Germany (By Application)
- U.K. (By Application)
- France (By Application)
- Italy (By Application)
- Netherlands (By Application)
- Russia & CIS (By Application)
- Rest of Europe (By Application)
- China (By Application)
- Japan (By Application)
- Taiwan (By Application)
- South Korea (By Application)
- Rest of Asia Pacific (By Application)
- Brazil (By Application)
- Mexico (By Application)
- Rest of Latin America (By Application)
- South Africa (By Application)
- GCC (By Application)
- Rest of the Middle East & Africa (By Application)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Emerging Trends – For Major Regions
- 4.2. Key Developments: Mergers, Acquisition, Partnership, etc.
- 4.3. Latest Technological Advancement
- 4.4. Insights on Sustainability
- 4.5. Porters Five Forces Analysis
- 4.6. Impact of COVID-19 on the Market
- 5. Global Photonics Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Key Findings / Summary
- 5.2. By Application (Value)
- 5.2.1. Displays
- 5.2.2. Information
- 5.2.3. Photovoltaics
- 5.2.4. Measure and Machine Vision
- 5.2.5. Medical Technology
- 5.2.6. Production Technology
- 5.2.7. Lighting
- 5.2.8. Communication
- 5.2.9. Defence and Security
- 5.2.10. Optical Component
- 5.3. By Region (Value)
- 5.3.1. North America
- 5.3.2. Europe
- 5.3.3. Asia Pacific
- 5.3.4. Latin America
- 5.3.5. Middle East & Africa
- 6. North America Photonics Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Key Findings / Summary
- 6.2. By Application (Value)
- 6.2.1. Displays
- 6.2.2. Information
- 6.2.3. Photovoltaics
- 6.2.4. Measure and Machine Vision
- 6.2.5. Medical Technology
- 6.2.6. Production Technology
- 6.2.7. Lighting
- 6.2.8. Communication
- 6.2.9. Defence and Security
- 6.2.10. Optical Component
- 6.3. By Country (Value)
- 6.3.1. U.S.
- 6.3.1.1. By Application (Value)
- 6.3.1.1.1. Displays
- 6.3.1.1.2. Information
- 6.3.1.1.3. Photovoltaics
- 6.3.1.1.4. Measure and Machine Vision
- 6.3.1.1.5. Medical Technology
- 6.3.1.1.6. Production Technology
- 6.3.1.1.7. Lighting
- 6.3.1.1.8. Communication
- 6.3.1.1.9. Defence and Security
- 6.3.1.1.10. Optical Component
- 6.3.2. Canada
- 6.3.2.1. By Application (Value)
- 6.3.2.1.1. Displays
- 6.3.2.1.2. Information
- 6.3.2.1.3. Photovoltaics
- 6.3.2.1.4. Measure and Machine Vision
- 6.3.2.1.5. Medical Technology
- 6.3.2.1.6. Production Technology
- 6.3.2.1.7. Lighting
- 6.3.2.1.8. Communication
- 6.3.2.1.9. Defence and Security
- 6.3.2.1.10. Optical Component
- 7. Europe Photonics Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Key Findings / Summary
- 7.2. By Application (Value)
- 7.2.1. Displays
- 7.2.2. Information
- 7.2.3. Photovoltaics
- 7.2.4. Measure and Machine Vision
- 7.2.5. Medical Technology
- 7.2.6. Production Technology
- 7.2.7. Lighting
- 7.2.8. Communication
- 7.2.9. Defence and Security
- 7.2.10. Optical Component
- 7.3. By Country (Value)
- 7.3.1. Germany
- 7.3.1.1. By Application (Value)
- 7.3.1.1.1. Displays
- 7.3.1.1.2. Information
- 7.3.1.1.3. Photovoltaics
- 7.3.1.1.4. Measure and Machine Vision
- 7.3.1.1.5. Medical Technology
- 7.3.1.1.6. Production Technology
- 7.3.1.1.7. Lighting
- 7.3.1.1.8. Communication
- 7.3.1.1.9. Defence and Security
- 7.3.1.1.10. Optical Component
- 7.3.2. UK
- 7.3.2.1. By Application (Value)
- 7.3.2.1.1. Displays
- 7.3.2.1.2. Information
- 7.3.2.1.3. Photovoltaics
- 7.3.2.1.4. Measure and Machine Vision
- 7.3.2.1.5. Medical Technology
- 7.3.2.1.6. Production Technology
- 7.3.2.1.7. Lighting
- 7.3.2.1.8. Communication
- 7.3.2.1.9. Defence and Security
- 7.3.2.1.10. Optical Component
- 7.3.3. France
- 7.3.3.1. By Application (Value)
- 7.3.3.1.1. Displays
- 7.3.3.1.2. Information
- 7.3.3.1.3. Photovoltaics
- 7.3.3.1.4. Measure and Machine Vision
- 7.3.3.1.5. Medical Technology
- 7.3.3.1.6. Production Technology
- 7.3.3.1.7. Lighting
- 7.3.3.1.8. Communication
- 7.3.3.1.9. Defence and Security
- 7.3.3.1.10. Optical Component
- 7.3.4. Italy
- 7.3.4.1. By Application (Value)
- 7.3.4.1.1. Displays
- 7.3.4.1.2. Information
- 7.3.4.1.3. Photovoltaics
- 7.3.4.1.4. Measure and Machine Vision
- 7.3.4.1.5. Medical Technology
- 7.3.4.1.6. Production Technology
- 7.3.4.1.7. Lighting
- 7.3.4.1.8. Communication
- 7.3.4.1.9. Defence and Security
- 7.3.4.1.10. Optical Component
- 7.3.5. Netherlands
- 7.3.5.1. By Application (Value)
- 7.3.5.1.1. Displays
- 7.3.5.1.2. Information
- 7.3.5.1.3. Photovoltaics
- 7.3.5.1.4. Measure and Machine Vision
- 7.3.5.1.5. Medical Technology
- 7.3.5.1.6. Production Technology
- 7.3.5.1.7. Lighting
- 7.3.5.1.8. Communication
- 7.3.5.1.9. Defence and Security
- 7.3.5.1.10. Optical Component
- 7.3.6. Russia & CIS
- 7.3.6.1. By Application (Value)
- 7.3.6.1.1. Displays
- 7.3.6.1.2. Information
- 7.3.6.1.3. Photovoltaics
- 7.3.6.1.4. Measure and Machine Vision
- 7.3.6.1.5. Medical Technology
- 7.3.6.1.6. Production Technology
- 7.3.6.1.7. Lighting
- 7.3.6.1.8. Communication
- 7.3.6.1.9. Defence and Security
- 7.3.6.1.10. Optical Component
- 7.3.7. Rest of Europe
- 7.3.7.1. By Application (Value)
- 7.3.7.1.1. Displays
- 7.3.7.1.2. Information
- 7.3.7.1.3. Photovoltaics
- 7.3.7.1.4. Measure and Machine Vision
- 7.3.7.1.5. Medical Technology
- 7.3.7.1.6. Production Technology
- 7.3.7.1.7. Lighting
- 7.3.7.1.8. Communication
- 7.3.7.1.9. Defence and Security
- 7.3.7.1.10. Optical Component
- 8. Asia-Pacific Photonics Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Key Findings / Summary
- 8.2. By Application (Value)
- 8.2.1. Displays
- 8.2.2. Information
- 8.2.3. Photovoltaics
- 8.2.4. Measure and Machine Vision
- 8.2.5. Medical Technology
- 8.2.6. Production Technology
- 8.2.7. Lighting
- 8.2.8. Communication
- 8.2.9. Defence and Security
- 8.2.10. Optical Component
- 8.3. By Country (Value)
- 8.3.1. China
- 8.3.1.1. By Application (Value)
- 8.3.1.1.1. Displays
- 8.3.1.1.2. Information
- 8.3.1.1.3. Photovoltaics
- 8.3.1.1.4. Measure and Machine Vision
- 8.3.1.1.5. Medical Technology
- 8.3.1.1.6. Production Technology
- 8.3.1.1.7. Lighting
- 8.3.1.1.8. Communication
- 8.3.1.1.9. Defence and Security
- 8.3.1.1.10. Optical Component
- 8.3.2. Japan
- 8.3.2.1. By Application (Value)
- 8.3.2.1.1. Displays
- 8.3.2.1.2. Information
- 8.3.2.1.3. Photovoltaics
- 8.3.2.1.4. Measure and Machine Vision
- 8.3.2.1.5. Medical Technology
- 8.3.2.1.6. Production Technology
- 8.3.2.1.7. Lighting
- 8.3.2.1.8. Communication
- 8.3.2.1.9. Defence and Security
- 8.3.2.1.10. Optical Component
- 8.3.3. Taiwan
- 8.3.3.1. By Application (Value)
- 8.3.3.1.1. Displays
- 8.3.3.1.2. Information
- 8.3.3.1.3. Photovoltaics
- 8.3.3.1.4. Measure and Machine Vision
- 8.3.3.1.5. Medical Technology
- 8.3.3.1.6. Production Technology
- 8.3.3.1.7. Lighting
- 8.3.3.1.8. Communication
- 8.3.3.1.9. Defence and Security
- 8.3.3.1.10. Optical Component
- 8.3.4. South Korea
- 8.3.4.1. By Application (Value)
- 8.3.4.1.1. Displays
- 8.3.4.1.2. Information
- 8.3.4.1.3. Photovoltaics
- 8.3.4.1.4. Measure and Machine Vision
- 8.3.4.1.5. Medical Technology
- 8.3.4.1.6. Production Technology
- 8.3.4.1.7. Lighting
- 8.3.4.1.8. Communication
- 8.3.4.1.9. Defence and Security
- 8.3.4.1.10. Optical Component
- 8.3.5. Rest of Asia Pacific
- 8.3.5.1. By Application (Value)
- 8.3.5.1.1. Displays
- 8.3.5.1.2. Information
- 8.3.5.1.3. Photovoltaics
- 8.3.5.1.4. Measure and Machine Vision
- 8.3.5.1.5. Medical Technology
- 8.3.5.1.6. Production Technology
- 8.3.5.1.7. Lighting
- 8.3.5.1.8. Communication
- 8.3.5.1.9. Defence and Security
- 8.3.5.1.10. Optical Component
- 9. Latin America Photonics Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Key Findings / Summary
- 9.2. By Application (Value)
- 9.2.1. Displays
- 9.2.2. Information
- 9.2.3. Photovoltaics
- 9.2.4. Measure and Machine Vision
- 9.2.5. Medical Technology
- 9.2.6. Production Technology
- 9.2.7. Lighting
- 9.2.8. Communication
- 9.2.9. Defence and Security
- 9.2.10. Optical Component
- 9.3. By Country (Value)
- 9.3.1. Brazil
- 9.3.1.1. By Application (Value)
- 9.3.1.1.1. Displays
- 9.3.1.1.2. Information
- 9.3.1.1.3. Photovoltaics
- 9.3.1.1.4. Measure and Machine Vision
- 9.3.1.1.5. Medical Technology
- 9.3.1.1.6. Production Technology
- 9.3.1.1.7. Lighting
- 9.3.1.1.8. Communication
- 9.3.1.1.9. Defence and Security
- 9.3.1.1.10. Optical Component
- 9.3.2. Mexico
- 9.3.2.1. By Application (Value)
- 9.3.2.1.1. Displays
- 9.3.2.1.2. Information
- 9.3.2.1.3. Photovoltaics
- 9.3.2.1.4. Measure and Machine Vision
- 9.3.2.1.5. Medical Technology
- 9.3.2.1.6. Production Technology
- 9.3.2.1.7. Lighting
- 9.3.2.1.8. Communication
- 9.3.2.1.9. Defence and Security
- 9.3.2.1.10. Optical Component
- 9.3.3. Rest of Latin America
- 9.3.3.1. By Application (Value)
- 9.3.3.1.1. Displays
- 9.3.3.1.2. Information
- 9.3.3.1.3. Photovoltaics
- 9.3.3.1.4. Measure and Machine Vision
- 9.3.3.1.5. Medical Technology
- 9.3.3.1.6. Production Technology
- 9.3.3.1.7. Lighting
- 9.3.3.1.8. Communication
- 9.3.3.1.9. Defence and Security
- 9.3.3.1.10. Optical Component
- 10. Middle East & Africa Photonics Market Analysis, Insights and Forecast, 2019-2032
- 10.1. Key Findings / Summary
- 10.2. By Application (Value)
- 10.2.1. Displays
- 10.2.2. Information
- 10.2.3. Photovoltaics
- 10.2.4. Measure and Machine Vision
- 10.2.5. Medical Technology
- 10.2.6. Production Technology
- 10.2.7. Lighting
- 10.2.8. Communication
- 10.2.9. Defence and Security
- 10.2.10. Optical Component
- 10.3. By Country (Value)
- 10.3.1. GCC
- 10.3.1.1. By Application (Value)
- 10.3.1.1.1. Displays
- 10.3.1.1.2. Information
- 10.3.1.1.3. Photovoltaics
- 10.3.1.1.4. Measure and Machine Vision
- 10.3.1.1.5. Medical Technology
- 10.3.1.1.6. Production Technology
- 10.3.1.1.7. Lighting
- 10.3.1.1.8. Communication
- 10.3.1.1.9. Defence and Security
- 10.3.1.1.10. Optical Component
- 10.3.2. South Africa
- 10.3.2.1. By Application (Value)
- 10.3.2.1.1. Displays
- 10.3.2.1.2. Information
- 10.3.2.1.3. Photovoltaics
- 10.3.2.1.4. Measure and Machine Vision
- 10.3.2.1.5. Medical Technology
- 10.3.2.1.6. Production Technology
- 10.3.2.1.7. Lighting
- 10.3.2.1.8. Communication
- 10.3.2.1.9. Defence and Security
- 10.3.2.1.10. Optical Component
- 10.3.3. Rest of Middle East & Africa
- 10.3.3.1. By Application (Value)
- 10.3.3.1.1. Displays
- 10.3.3.1.2. Information
- 10.3.3.1.3. Photovoltaics
- 10.3.3.1.4. Measure and Machine Vision
- 10.3.3.1.5. Medical Technology
- 10.3.3.1.6. Production Technology
- 10.3.3.1.7. Lighting
- 10.3.3.1.8. Communication
- 10.3.3.1.9. Defence and Security
- 10.3.3.1.10. Optical Component
- 11. Competitive Analysis
- 11.1. TRUMPF (Ditzingen, Germany)
- 11.1.1. Overview
- 11.1.2. Description
- 11.1.3. Product Portfolio
- 11.1.4. Financials (Data as available in public domain and/or on paid databases)
- 11.1.5. Recent Developments
- 11.2. Hamamatsu Photonics K.K. (Hamamatsu-city, Japan)
- 11.2.1. Overview
- 11.2.2. Description
- 11.2.3. Product Portfolio
- 11.2.4. Financials (Data as available in public domain and/or on paid databases)
- 11.2.5. Recent Developments
- 11.3. IPG Photonics Corporation (Massachusetts, U.S.)
- 11.3.1. Overview
- 11.3.2. Description
- 11.3.3. Product Portfolio
- 11.3.4. Financials (Data as available in public domain and/or on paid databases)
- 11.3.5. Recent Developments
- 11.4. Molex (Illinois, U.S.)
- 11.4.1. Overview
- 11.4.2. Description
- 11.4.3. Product Portfolio
- 11.4.4. Financials (Data as available in public domain and/or on paid databases)
- 11.4.5. Recent Developments
- 11.5. Innolume (Dortmund, Germany)
- 11.5.1. Overview
- 11.5.2. Description
- 11.5.3. Product Portfolio
- 11.5.4. Financials (Data as available in public domain and/or on paid databases)
- 11.5.5. Recent Developments
- 11.6. II-VI Incorporated (Pennsylvania, U.S.)
- 11.6.1. Overview
- 11.6.2. Description
- 11.6.3. Product Portfolio
- 11.6.4. Financials (Data as available in public domain and/or on paid databases)
- 11.6.5. Recent Developments
- 11.7. NeoPhotonics Corporation (California, U.S.)
- 11.7.1. Overview
- 11.7.2. Description
- 11.7.3. Product Portfolio
- 11.7.4. Financials (Data as available in public domain and/or on paid databases)
- 11.7.5. Recent Developments
- 11.8. One Silicon Chip Photonics Inc. (Montreal, Canada)
- 11.8.1. Overview
- 11.8.2. Description
- 11.8.3. Product Portfolio
- 11.8.4. Financials (Data as available in public domain and/or on paid databases)
- 11.8.5. Recent Developments
- 11.9. NKT Photonics A/S (Birkerød, Denmark)
- 11.9.1. Overview
- 11.9.2. Description
- 11.9.3. Product Portfolio
- 11.9.4. Financials (Data as available in public domain and/or on paid databases)
- 11.9.5. Recent Developments
- 11.10. AIO CORE (Tokyo, Japan)
- 11.10.1. Overview
- 11.10.2. Description
- 11.10.3. Product Portfolio
- 11.10.4. Financials (Data as available in public domain and/or on paid databases)
- 11.10.5. Recent Developments
- 11.11. SICOYA GMBH (Berlin, Germany)
- 11.11.1. Overview
- 11.11.2. Description
- 11.11.3. Product Portfolio
- 11.11.4. Financials (Data as available in public domain and/or on paid databases)
- 11.11.5. Recent Developments
- 11.12. RANOVUS (Ontario, Canada)
- 11.12.1. Overview
- 11.12.2. Description
- 11.12.3. Product Portfolio
- 11.12.4. Financials (Data as available in public domain and/or on paid databases)
- 11.12.5. Recent Developments
- 12. Strategic Recommendations
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