• Reports

      Reports

      Stay ahead and make informed decisions with Delvens insightful analysis on key business and technological trends.

      How We Can help you
      • Healthcare
      • Automotive
      • Chemicals & Materials
      • Aerospace & Defense
      • Semiconductors & Electronics
      • Food & Beverages
      • Pharmaceutical
      • IT & Telecom
      • Energy
      • Consumer Goods & Services
  • Best Practice Guide

      Best Practice Guides

      The Delvens Best Practice Team offers practical tactics, procedures, and resources to help you address the major growth-related dos and don'ts.

      How We Can help you
      • Healthcare
      • Automotive
      • Chemicals & Materials
      • Aerospace & Defense
      • Semiconductors & Electronics
      • Food & Beverages
      • Pharmaceutical
      • IT & Telecom
      • Energy
      • Consumer Goods & Services
  • Expertise

      Expertise

      Delvens' decades of experience helps you to strategize, plan, optimize and win.

      See What we can do
      • Syndicated Research
      • Custom Research
      • Consulting
      • Implementation Support
      • Audio-Video Infographic Workshops
      • Subscription Model
      • Bundle Reports Model
      • Best Practice Guides
  • Innovation

      Innovation

      Gain thought-provoking insights on some of the biggest trends in the world to guide you in the phase of innovation.

      Let's Innovate

      Latest Chronicles

      Pharma Businesses

      Pharma businesses that are rewired will win in the digital era

      13th July 2023

      Featured Chronicle

      ESG

      Why ESG is more important than ever!

      4th November 2022
  • Innovation
  • Explore

      Explore

      From accelerating growth and providing strategic vision to the world's biggest brands, to lunch-break sneaker shopping on Melrose, and thirsty Thursdays at the local pubs. We have a Hustling atmosphere because growing together should be fun, or why do it?

      Let's Explore Something

      About

      • Who We Are
      • Why Choose Us
      • Research Methodology
      • Careers
      • Contact

      Help

      • Customer FAQs
      • How To Order
      • Delivery Method
      • Return Policy
      • Privacy Policy
      • Terms of Use
  • Newscast

      Blogs

      The Pros and Cons of Cloud Computing

      The Pros and Cons of Cloud Computing

      13th July 2023
      Let's Read

      Press Room

      Healthcare AI Innovation

      Healthcare AI innovation: a new era of patientcare

      13th July 2023
      Let's Understand

      Article

      Electric Vehicle Thermal Management System (EVTMS) Market

      19th May 2023
      Let's Study
  • Newscast
      • Blog
      • Article
      • Pressroom
Semiconductors & Electronics Icon

Photonics Market – Trends Forecast Till 2030

Photonics Market by Type (LED, Lasers, Detectors, Sensors and Imaging Devices, Optical Communication Systems & Networking Components, Consumer Electronics & Devices), Application End-Use Industry, and Region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).

  • Published Date : September 2023
  • Base Year Estimate : 2022
  • Report ID : D-SE-PM-1554
  • Format :
  • Number of Pages : 355
  • Domain : Semiconductors & Electronics
  1. Semiconductors & Electronics
  2. Photonics Market – Trends Forecast Till 2030
Buy Now Get Free Sample Now
REPORT SYNOPSIS
Market Snapshot Market Overview Delvens Industry Expert's Standpoint Market Portfolio Key Findings Regional Analysis Competitive Landscape Recent Developments Reasons to Acquire Report Scope
Table Of Content Frequently Asked Questions

Market Snapshot

Market Overview

The global Photonics market size was estimated at USD 592.2 billion in 2023 and is projected to reach USD 1186.1 billion in 2030 at a CAGR of 7.2% during the forecast period 2023-2030.

Throughout the predicted period, the utilization of photonics-enabled devices in various sectors such as healthcare, information and communication, and industrial production will drive the global market. The emergence of light-based technology breakthroughs has sparked a new wave of innovation by providing lasting solutions to global issues, which have been considered as notable catalysts for the growth of the worldwide market. The extensive utilization of these commodities has been observed due to the long-term gains they offer, leading to their growing popularity.

Photonics technology has rapidly proliferated from its origins in physics to encompass various aspects of life sciences. Light and laser technologies have found widespread applications in medical and biological research, where they are utilized in numerous stages of investigation. Spectroscopy, for instance, enables in-depth analyses of biological components. Medical lasers have become indispensable tools for a broad range of purposes, including drug development and delivery, medical imaging and genomics, as well as robotic guidance in surgery. Photonics has had a profound impact on medical diagnosis, arguably one of the most crucial aspects of healthcare. For example, OCT scanning, a modern invention, has revolutionized the diagnosis of various conditions that were previously challenging to detect. Ophthalmology was the first area to benefit significantly from OCT, as eye scans using this technology can identify optical degradation associated with glaucoma, retinopathy and other forms of disorder. The diagnosis of new retinal disorders now hinges on the use of advanced technologies, which have become integral to the workings of modern optometry clinics.

Despite the pandemic's significant impact on various industries, the 3D printing market's prospects remain promising. This technology encompasses a growingly captivating space of laser, optical scanning systems, and imaging solution applications. The deployment of 5G in several countries might face delays due to supply chain disruptions, while the expenses associated with fiber optic cable may escalate, given that fiber optic cable-producing nations, such as China, have suffered adverse effects.

Delvens Industry Expert's Standpoint

Photonics is a field that extends beyond serving as a mere foundation for beam formation and steering. The industrial maturity of technology has been on the rise, and photonics has played a significant role in this development by enabling laser beam diagnostics and precise performance measures. Even minor adjustments to beam and scanning settings could lead to substantial quality losses throughout the construction process, according to some sources. The market is continuously being introduced to new additive processes, which has accelerated construction processes and increased material choices. Concurrently, the number of user industries relying on AM processes, including automotive, aerospace, energy and chemical plant manufacturers, medical technology, food industry, and mechanical engineering is on the rise. These industries employ additional processes to manufacture molds for axle housings and wheel hubs, as well as very small quantities of increasingly complex vehicle components, using process design freedom. A well-conceived design may enable the integration of many individual parts into a single component in a sandwich structure, thereby reducing the need for assembly work and certification, quality assurance, and warehousing work. The laser used in the sandwich structure process only exposes the metal powder to the intended component structure, resulting in a significant reduction in component weight and the ability to integrate new features, ranging from cooling channels to devices for optimizing lubrication supplies.

Market Portfolio

Key Findings

  • On the basis of application, the Photonics market is categorized into seven primary end-use applications, specifically Displays, Information & Communication Technology, Photovoltaic, Medical Technology & Life Sciences (Biophotonics), Measurement & Automated Vision, Lighting, and Production Technology. In the context of Information and Communication Technology, Photonics technology plays a major role in various processes including data generation, transformation, transmission, storage, conversion, and usage. The devices employed in these processes are integral components of the photonics materials & component industry. Furthermore, there are services that rely on these processes and employ photonics technology.
  • On the basis of type, Light Emitting Diodes (LEDs) are the most extensively used photonics devices, and they hold the largest application in the market. These devices are highly efficient, accurate, non-invasive, provide rapid results, are cost-effective, and easy to use. Light fibers or optical fibers can be employed to create a path for light transmission. Optical fibers are utilized for light transmission purposes. Currently, research is underway to develop photonic crystals and photonic crystal fibers. Additionally, Optical Amplifiers are utilized for signal amplification.
  • On the basis of distribution channel, The photonics market segment, which is based on the distribution channel, is a multifaceted and diverse industry that encompasses a wide range of fields. These fields include but are not limited to information processing, telecommunication services, medical sector, lightning, construction side, military purpose, solar systems, pharmaceutical industries, electronic devices used by the consumers, nano photonics, and micro photonics. It is noteworthy that photonics devices are highly preferred over congenital devices by the market, as they cater to the needs of the customers and provide them with a product that adheres to standardized procedures followed by the industries to manufacture and produce a product that is not only efficient but also effective to use.
     
  • The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. Asia-Pacific region (APAC) is anticipated to be the primary market for photonics, boasting the largest share of the market and also demonstrating the most rapid compound annual growth rate (CAGR).

Regional Analysis

Asia-Pacific to Dominate the Market

  • The Asia-Pacific region (APAC) is anticipated to be the primary market for photonics, boasting the largest share of the market and also demonstrating the most rapid compound annual growth rate (CAGR).
     
  • It is anticipated that China will account for the greatest portion of this market, further contributing to the overall dominance of APAC in the field of photonics.