The Global Photonics Market Calculated to Attain $921.66 Billion in Revenue by 2028

According to Triton’s report, the global photonics market, which gained $459.92 billion in 2020, is likely to observe growth at 8.15% of CAGR by 2028.

A recent study by Triton Market Research titled ‘Global Photonics Market’ includes the Global Analysis and Forecasts by Application (Security, Surveying, & Detection; Lighting; Photovoltaic; Image Capture & Display; Production Technology; Medical Technology; Data Communication; Other Applications (Traffic, Research)), Product (Waveguides, Wavelength Division Multiplexer (WDM) Filters, Optical Interconnects, Photodetectors, Optical Modulators, Lasers, Amplifiers, LED, Other Product Types), and by Geography (Asia-Pacific, Latin America, North America, Middle East and Africa, Europe).

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As stated in Triton’s research report, the global photonics market is estimated to grow at a compound annual growth rate of 8.15%, rising at a revenue of $921.66 billion by 2028.

Photonics is a key technology that is deployed in intelligent systems, helping them use energy without compromising the overall system efficiency.
In recent years, numerous companies have increased their research and development expenditure in developing silicon photonics technology. This growth is essentially owing to the high technical ability of photonics over other conventional data communication methods. Hence, the rising investments in the silicon photonics industry support the growth of the photonics market worldwide.

However, the strict government and environmental regulations, coupled with the high cost of photonics-based products, are negatively impacting the photonics market’s progression.

The global photonics market is divided into application and product. Based on application, it is categorized into security, surveying, & detection; lighting; photovoltaic; image capture & display; production technology; medical technology; data communication; and other applications (traffic, research). The application segment is divided into waveguides, wavelength division multiplexer (WDM) filters, optical interconnects, photodetectors, optical modulators, lasers, amplifiers, LED, and other product types.

The Asia-Pacific holds the largest market for photonics and is likely to continue its stronghold till 2028. The region’s growth can be attributed to the growing availability of silicon photonics. Additionally, government efforts to encourage the adoption of photonics are adding to the development of the studied market. Furthermore, numerous market players are expanding their base in the region, influencing the adoption of photonics-based products. Therefore, these factors will augment the development of the photonics market across the Asia-Pacific region over the next few years.

Innolume GmbH, Intel Corporation, Koninklijke Philips NV, Hamamatsu Photonics KK, Molex LLC, International Business Machines Corporation (IBM), Infinera Corporation, IPG Photonics Corporation, Finisar Corporation (II-VI Incorporated), Huber+Suhner Polatis Photonics Inc, Schott AG, 3S Photonics, Carl Zeiss AG, and NEC Corporation are key companies in the photonics market.

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Question & Answer: Photonics Market

Question 1: What elements are contributing to the growth of the activated carbon market?

Answer: In recent years, numerous companies have increased their research and development expenditure in developing silicon photonics technology. This growth is essentially owing to the high technical ability of photonics over other conventional data communication methods. Hence, the rising investments in the silicon photonics industry support the growth of the photonics market worldwide.

Question 2: What factors are limiting the expansion of the activated carbon market?

Answer: The strict government and environmental regulations, coupled with the high cost of photonics-based products, are negatively impacting the photonics market’s progression.

Question 3: Which region is dominating the activated carbon market?

Answer: The Asia-Pacific holds the largest market for photonics and is likely to continue its stronghold till 2028. The region’s growth can be attributed to the growing availability of silicon photonics. Additionally, government efforts to encourage the adoption of photonics are adding to the development of the studied market. Furthermore, numerous market players are expanding their base in the region, influencing the adoption of photonics-based products. Therefore, these factors will augment the development of the photonics market across the Asia-Pacific region over the next few years.

Question 4: Which are the key companies in the photonics market?

Answer: Innolume GmbH, Intel Corporation, Koninklijke Philips NV, Hamamatsu Photonics KK, Molex LLC, International Business Machines Corporation (IBM), Infinera Corporation, IPG Photonics Corporation, Finisar Corporation (II-VI Incorporated), Huber+Suhner Polatis Photonics Inc, Schott AG, 3S Photonics, Carl Zeiss AG, and NEC Corporation are key companies in the photonics market.

Related Report:

Global Silicon Photonics Market

The global silicon photonics market is anticipated to progress at a CAGR of 16.72% during 2019-2028. It is estimated to acquire revenue worth $3294.56 million by 2028.

Silicon photonics consists of technologies that are involved in identifying and generating light using silicon as a material, especially for facilitating efficient data transfer.

The rising demand for high-speed data transfer, a requirement for energy-efficient technologies, and an increase in internet connectivity is driving the silicon photonics market on a positive growth trajectory.

Additionally, the increasing application of silicon photonics in the automotive industry offers lucrative opportunities to the silicon photonics market over the forecast period.

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