Photonics Market In US 2024-2028
The photonics market in US is forecasted to grow by USD 51.37 mn during 2023-2028, accelerating at a CAGR of 5.99% during the forecast period. The report on the photonics market in US provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by emerging silicon-based photonics applications, growing focus on eco-friendly solutions and high performance, and rapid expansion of cloud computing in technology used in photonics.
Technavio's photonics market in US is segmented as below:
By End-user
- Consumer electronics
- Building and construction
- Safety and defense technology
- Medical and healthcare
- Others
By Product
- WDM filters
- Optical modulators
- Optical interconnects
- Photo detectors
- Others
By Application
- Information and communication technology
- Displays
- Photovoltaic
- Biophotonics
- Others
By Geographical Landscape
This study identifies the rise in developments in US on photonics as one of the prime reasons driving the photonics market in US growth during the next few years. Also, growing importance of light detection and ranging (LIDAR) technology and advancement in integrated circuit (IC) semiconductor miniaturization will lead to sizable demand in the market.
The report on the photonics market in US covers the following areas:
- Photonics market in US sizing
- Photonics market in US forecast
- Photonics market in US industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading photonics market in US vendors that include American Elements, ams OSRAM AG, Hamamatsu Photonics KK, II VI Inc., Infinera Corp., Intel Corp., IPG Photonics Corp., Lumentum Holdings Inc., Molex LLC, NEC Corp., Photonic Systems Inc., Polatis Inc., Thorlabs Inc., TRUMPF SE Co. KG, and Vescent Photonics LLC. Also, the photonics market in US analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.