Global Photonics Devices Market is growing rapidly owing to the emergence of silicon-based photonics applications. Photonics is becoming the foundational technology model for the next normal. Many enterprises are adopting photonics as a cost-effective solution to bolster the need for high-speed transfer in data communication. The high usage for photonics applications across various industries has become one of the significant factors offering cutting edge services for better efficiency, scalability, and customers’ experience. Moreover, the growth of the market is on account of the increasing demand for energy-efficient and green products across the globe for saving energy and reducing pollution during the forecast period. Technology has become the key enabler of excellence and businesses are gradually becoming mobile as digitalization emerges. The increasing internet penetration and growing usage of smart display devices are further expected to boost the global photonics devices market during the forecast period.
Photonics is the technique of producing and utilizing light and other types of radiant energy, with the photon serving as the quantum unit.
Emergence of Silicon-based Photonics Applications
The exponential growth and the massive adoption of silicon-based photonics applications are driving the photonics market globally. Silicon photonics (SiPh) is the application of photonics systems, and it is widely used for computation, communication, sensing, and imaging light for faster data transmission in both, between and within microchips. Silicon photonics is a material platform that enables the fabrication of photonic integrated circuits (PICs) utilising silicon on insulator (SOI) wafers as the semiconductor substrate material. Silicon photonics is being used more often in optical data communications, sensing, medicinal, automotive, virtual reality, and artificial intelligence (AI) applications. Nonetheless, silicon is the principal material used by the majority of the semiconductor industry to construct integrated CMOS circuits, resulting in very high yield and cheap cost. Numerous companies have developed various strategies for integrating diverse materials, such as indium phosphide, in silicon photonics. applications to create integrated lasers, modulators, and detectors that drive the photonic circuit. Silicon-based photonics applications such as solid-state LiDAR sensors,
Increasing Use of Photonics in the Healthcare Sector
With applications ranging from diagnostics to surgical instruments to therapies, the healthcare and medical device business is a fast-expanding area of potential for optical and photonics technology. Biophotonics is an important diagnostic technique in gastroenterology. For decades, endoscopes have been used in gastroenterology to identify inflammations and tumors in the esophagus, stomach, and bowel. Deaths could be prevented in many cases if endoscopies were used to find the mutations sooner and remove them. Before a patient has any symptoms, diagnostic biophotonics can identify illnesses in their early stages.
Increase in Demand for Energy-efficient and Green Products
The increasing demand for energy-efficient and green products has enabled potential opportunities which have altered the environment making it more sustainable, reduce greenhouse gas emission, improves public health, and reduce pollution.
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Market Segmentation
The photonics devices market is segmented into product, application, end-user, and region. Based on product, the market is bifurcated into LED, lasers sensors detectors & imaging devices, optical communication systems & components, consumer electronics & devices and other. Based on application, the market is categorized into displays, information & communication technology, photovoltaic, medical technology & life sciences, measurement & automated vision, lighting, production technology and others. The end-user segment is further categorized into building & construction, media broadcasting & telecommunication, consumer & business automation, medical, security & defence, industrial and others
Market Player
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million and CAGR for 2018-2022 and 2024-2028 |
| Report coverage | Revenue forecast, company share, growth factors, and trends |
| Segments covered | By Product By Application By End-User |
| Regional scope | North America, Asia-Pacific, Europe, South America, Middle East |
| Country scope | United States, Canada, Mexico, China, India, Japan, South Korea, Australia, Germany, United Kingdom, France, Italy, Spain, Brazil, Argentina, Colombia, Saudi Arabia, South Africa, UAE, Kuwait |
| Key companies profiled | IPG Photonics, Innolume GmbH, Infinera Corporation, Hamamatsu Photonics, Finisar Corporation, Shin-Etsu Chemical Company, Nikon Corporation, Ohara Corporation, Signify Holding, Corning Inc. |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
