Photonics Market 2019 Recording 10.1% CAGR With Top Prominent Industries as Philips, Huawei Technologies, Coherent, Cisco Systems, Hitachi, Siemens, Samsung Electronics, IPG Photonics, General Electric Company

Industry Highlights
According to Market Prognosis, the Global Photonics market is expected to grow from $490.26 billion in 2017 to reach $1165.92 billion by 2026 with a CAGR of 10.1%. Need for energy efficient products and increasing adoption of photonics products among various applications are some of the key factors driving the market growth. However, strict environmental regulations are hampering the market.

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Photonics is the technology to facilitate merges optics with electronics. These crystals usually create awareness of both academic & industrial research, and are providing new tools for the manipulation of photons. Photonic crystals are used in information & telecommunication industry, healthcare, optics manufacturing, education & research, optical sensing energy, energy & displays, and other sectors.

Market Top Player’s
Some of the key players in Photonics the market are Philips, Huawei Technologies, Coherent, Cisco Systems, Hitachi, Siemens, Samsung Electronics, IPG Photonics, General Electric Company, Toshiba Medical, Trumpf Group, Emerson, Nikon, Hewlett-Packard Company and 3S Photonics S.A.S.

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Market Segments
By application, production technology segment has acquired significant growth. The high growth of this segment is attributed to the increasing use of photonics products to improve the process and energy efficiency of production technologies. Moreover, the LED segment is projected to lead the market during the forecast period. The growth of this segment is attributed to the rising use of relatively higher energy-efficient LEDs in the lighting and display applications.

Based on geography, Asia Pacific is estimated to grow at the highest CAGR during the forecast period due to increasing end-user industries, such as building & construction; media, broadcasting, & telecommunication; medical; industrial; and security & defense. Urbanization and the constant increasing population are also expected to increase the demand for photonics in this region.

Products Covered:
• Consumer Electronics & Devices
• Lasers, Sensors, Detectors & Imaging Devices
• Optical Communication Systems & Components
• Waveguides
• Wavelength Division Multiplexer Filters
• Amplifiers
• Other Products
Applications Covered:
• Production Technology
• Measurement & Automated Vision
• Information & Communication Technology
• Displays
• Medical Technology & Life Sciences
• Lighting
• Photovoltaic
• Surveying & Detection
• Data Communication
• Other Applications
End-Users Covered:
• Industrial
• Consumer & Business Automation
• Security & Defense
• Building & Construction
• Medical
• Media, Broadcasting & Telecommunication
• Other End Users

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This release was published on openPR.