DUBLIN--(BUSINESS WIRE)--The "Photonics Market by Product Type (LED and Lasers, Detectors, Sensors & Imaging Devices), Application (ICT and Production Tech.), End-Use Industry - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering
The photonics market is projected to grow from USD 556.4 billion in 2018 to USD 780.4 billion by 2023, at a CAGR of 7.0%
The increased demand for photonics in applications such as displays, information & communication technology, photovoltaic, medical technology & life sciences, measurement & automated vision, lighting, and production technology is expected to drive the growth of the photonics market across the globe. Improved properties, such as better energy efficiency and longer lifespan, contribute to the increased demand for photonics.
Photonics is the science and technology of generating, controlling, and detecting photons that are particles of light. The main function of photonics is to obtain, convey, or process information through the use of light.
Photonics harnesses light and hence is used in lasers, optical fibers, and lighting systems. Lasers are an intense beam of monochromatic light generated by the stimulated emission of photons. They are used for non-invasive surgeries, welding & cutting in the automobile and manufacturing sectors, surveying & ranging applications in security & defense systems.
Optical fibers have applications in the transmission of communication signals over long distances; whereas lighting systems use photonics in the form of CFLs and LEDs that are commonly found in constructional lightings, displays, and screens. Market players are exploring more applications of photonics by focusing on continuous research & development (R&D). The media, broadcasting & telecommunication segment is the largest consumer of photonics. Photonics is also used in the building & construction, industrial, and security & defense sectors.
The increasing need for energy-efficient products and the rising adoption of photonics products in various applications are factors contributing to the growth of the photonics market. However, stringent environmental regulations on the use of some chemical substances are hampering the performance of photonics products, which is restraining the photonics market. Although photonics-enabled products and services cost high and there is intense competition in the market, technological advancements reducing the cost of photonics products and growing demand from emerging markets are expected to provide growth opportunities for the key market players.
The leading players in the market are Signify (the Netherlands), Schott (Germany), Nikon (Japan), Shin-Etsu Chemical Company (Japan), Hoya (Japan), Corning (US), Asahi Glass Company (Japan), II-VI (US), OHARA (Japan), and American Elements (US).
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Photonics Market
4.2 APAC Photonics Market, By Product Type and Country
4.3 Photonics Market, By Key Countries
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Need for Energy-Efficient Products
5.2.1.2 Increasing Adoption of Photonics Products in Various Applications
5.2.2 Restraints
5.2.2.1 Stringent Environmental Regulations Hampering the Performance of Photonics Products
5.2.3 Opportunities
5.2.3.1 Technological Advancements Leading to New Innovative Avenues
5.2.4 Challenges
5.2.4.1 High Cost of Photonics-Enabled Products and Services
5.2.4.2 Intense Competition in the Market
5.3 Porter's Five Forces Analysis
5.3.1 Bargaining Power of Suppliers
5.3.2 Threat of New Entrants
5.3.3 Threat of Substitutes
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry
6 Photonics Market, By Product Type
6.1 Introduction
6.2 LED
6.2.1 Increasing Usage of LED in Lighting and Display Applications to Drive Its Demand During the Forecast Period
6.3 Lasers, Detectors, and Sensors & Imaging Devices
6.3.1 The Adoption Photonics Products in Various Applications is Driving This Product Type Segment
6.4 Optical Communication Systems & Components
6.4.1 Technological Advancements in Optical Networks Offering Higher Capacity With Lower Cost is Likely to Boost the Optical Communication Systems & Components Segment
6.5 Consumer Electronics & Devices
6.5.1 Integrated Products With Better Performance and Efficient Data Transfer Will Increase the Demand for Smart Devices
6.6 Others
7 Photonics Market, By Application
7.1 Introduction
7.2 Display
7.2.1 Display in Mobile Devices
7.2.1.1 Penetration of Smartphones Will Drive the Display Market in Mobile Devices
7.2.2 Display in Television
7.2.2.1 LED and OLED are Boosting the Display Market in the Television Segment
7.3 Information & Communication Technology
7.3.1 Data Transmission
7.3.1.1 Increasing Demand for High-Speed Internet to Boost the Demand for Fiber Optic Data Transmission
7.3.2 Data Storage
7.3.2.1 The Cloud Storage Technology is Catering to the Increasing Demand for Data Storage
7.4 Photovoltaic
7.4.1 The Rising Demand for Clean Energy is Fueling the Growth of the Photovoltaic Sector
7.5 Medical Technology & Life Sciences
7.5.1 Photonics in Medical Diagnostics
7.5.1.1 Growth in the Incidence of Various Diseases Will Increase the Use of Photonics in Medical Diagnostics
7.5.2 Photonics in Surgeries
7.5.2.1 Increasing Demand for Minimally Invasive therapeutic Techniques is Driving the Demand for Photonics in Surgeries
7.6 Measurement & Automated Vision
7.6.1 Measuring Instruments
7.6.1.1 Technological Advancements in Measuring Instruments are Driving the Photonics Market
7.6.2 Automated Vision
7.6.2.1 Lesser Human Intervention and Better Efficiency are Driving the Demand for Photonics in the Automated Vision Application
7.7 Lighting
7.7.1 CFL
7.7.1.1 The Use of Mercury in CFL is Leading to Its Replacement By LED
7.7.2 LED
7.7.2.1 Energy Savings and Longer Life Span of LED are Augmenting the Market
7.8 Production Technology
7.8.1 Adoption of Industry 4.0 Will Drive the Production Technology Segment
7.9 Others
8 Photonics Market, By End-Use Industry
8.1 Introduction
8.2 Building & Construction
8.2.1 Smart Cities Construction
8.2.1.1 Increasing Smart City Projects are Driving Energy-Efficient and Technologically Advanced Photonics-Enabled Products and Services
8.3 Media, Broadcasting & Telecommunication
8.3.1 Optical Fibers Will Drive the Market in the Media, Broadcasting & Telecommunication Segment
8.4 Consumer & Business Automation
8.4.1 Need for Improvement in Process Efficiency and Implementation of Industry 4.0 are Boosting the Consumer & Business Automation End-Use Segment
8.5 Medical
8.5.1 Increasing Demand in Healthcare Applications is Augmenting the Market in the Medical Devices Segment
8.6 Security & Defense
8.6.1 Requirement of Hi-Tech Defense Systems is Increasing the Demand for Photonics in the Security & Defense End-Use Industry
8.7 Industrial
8.7.1 Reducing Carbon Footprint in Manufacturing Plants is Fueling the Photonics Market in the Industrial Segment
8.8 Others
9 Photonics Market, By Region
Company Profiles
- Signify
- Schott
- Shin-Etsu Chemical Company
- Nikon Corporation
- HOYA
- Corning
- American Elements
- OHARA
- Asahi Glass
- II-VI
Other Companies
- Huawei Technologies
- Cisco Systems
- Coherent Inc.
- Trumpf Group
- General Electric Company
- Toshiba Medical Systems Corporation (Toshiba Corporation)
- Hitachi
- Emerson
- Siemens
- LG Display Co., Ltd.
- Samsung Electronics
- Innolux
- Osram Licht
- Trina Solar
- Ipg Photonics
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