Photonics Market Will Record an Upsurge in Revenue during 2021-2026 [Business]
OCT 05,2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Photonics Market.
Photonics Market is likely to witness a healthy CAGR of 7.1% during the forecast period. The demand for photonics is growing due to the increasing penetration of photonic products in different applications and need for energy efficient products to conserve energy.
Photonics is the technology of light generation detection and manipulation through transmission, emission, modulation, switching, amplification, signal processing, and sensing. ‘Photonics’, the word has been derived from the Greek word "phos" meaning light. The application of photonics is everywhere, included in all areas from the most advanced science to everyday life, such as light detection, information processing, lighting, spectroscopy, photonic computing, telecommunications, and metrology.
Based on the product type, the market is segmented as LED, lasers, detectors, and sensors & imaging devices, optical communication systems & components, consumer electronics & devices and others. The consumer electronics & devices segment is expected to be the fastest-growing segment during the forecast period. Consumer electronics include products such as watches, holography, scanners, and optical computer devices such as optical mouse. The increasing demand for these products, globally, is driving the growth of this segment.
Based on the application type, the market is segmented as display, information & communication technology, photovoltaic, medical technology & life sciences, measurement & automated vision, lighting, production technology, and others. The information & communication technology segment is expected to remain dominant market during the forecast period due to the increasing number of internet users and increase of data usage. Technological advancements such as high-speed optical fiber internet connectivity and digitization are going to rise the demand for this segment.
Based on the end-use industry type, the photonics market is segmented as building & construction, media, broadcasting & telecommunication, consumer & business automation, medical, security & defense, industrial, and others. The media, broadcasting & telecommunication segment leads the market owing to photonics being used in a wide range of applications such as display, information & communication technology, photovoltaic, medical technology & life sciences, measurement & automated vision, lighting, production technology, and others.
In terms of regions, Asia-Pacific is estimated to be the largest photonics market during the forecast period, owing to increasing spending of government on digitization and increasing usage of photonic products in various applications such as lighting, information & communication technology, and displays.
Key Players
• AGC Inc.
• American Elements
• Corning Incorporated
• Hoya Corporation
• II-VI Incorporated
• Nikon Corporation
• Ohara Corporation
• Schott AG
• Shin-Etsu Chemical Company
• Signify Holding.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Photonics Market analysis report discusses the following heads in great detail:
• Market structure: Overview, industry life cycle analysis, supply chain analysis
• COVID-19 Impact Assessment
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors
Customization of the Report:
This report can be customized to meet the client’s requirements. In order to provide more accurate market forecast, all the reports are updated before delivery.
You can mail our sales team at (sales@stratviewresearch.com) and get in touch with us on +1-313-307-4176 to share your research requirements.
About Us: Stratview Research is a trusted global market intelligence and strategic consulting firm providing inclusive range of services to multiple clients across a wide array of industries. Our team of veterans and analysts have extensive experience in executing custom research projects for mid-sized to fortune companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, and more.
Photonics Market is likely to witness a healthy CAGR of 7.1% during the forecast period. The demand for photonics is growing due to the increasing penetration of photonic products in different applications and need for energy efficient products to conserve energy.
Photonics is the technology of light generation detection and manipulation through transmission, emission, modulation, switching, amplification, signal processing, and sensing. ‘Photonics’, the word has been derived from the Greek word "phos" meaning light. The application of photonics is everywhere, included in all areas from the most advanced science to everyday life, such as light detection, information processing, lighting, spectroscopy, photonic computing, telecommunications, and metrology.
Based on the product type, the market is segmented as LED, lasers, detectors, and sensors & imaging devices, optical communication systems & components, consumer electronics & devices and others. The consumer electronics & devices segment is expected to be the fastest-growing segment during the forecast period. Consumer electronics include products such as watches, holography, scanners, and optical computer devices such as optical mouse. The increasing demand for these products, globally, is driving the growth of this segment.
Based on the application type, the market is segmented as display, information & communication technology, photovoltaic, medical technology & life sciences, measurement & automated vision, lighting, production technology, and others. The information & communication technology segment is expected to remain dominant market during the forecast period due to the increasing number of internet users and increase of data usage. Technological advancements such as high-speed optical fiber internet connectivity and digitization are going to rise the demand for this segment.
Based on the end-use industry type, the photonics market is segmented as building & construction, media, broadcasting & telecommunication, consumer & business automation, medical, security & defense, industrial, and others. The media, broadcasting & telecommunication segment leads the market owing to photonics being used in a wide range of applications such as display, information & communication technology, photovoltaic, medical technology & life sciences, measurement & automated vision, lighting, production technology, and others.
In terms of regions, Asia-Pacific is estimated to be the largest photonics market during the forecast period, owing to increasing spending of government on digitization and increasing usage of photonic products in various applications such as lighting, information & communication technology, and displays.
Key Players
• AGC Inc.
• American Elements
• Corning Incorporated
• Hoya Corporation
• II-VI Incorporated
• Nikon Corporation
• Ohara Corporation
• Schott AG
• Shin-Etsu Chemical Company
• Signify Holding.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Photonics Market analysis report discusses the following heads in great detail:
• Market structure: Overview, industry life cycle analysis, supply chain analysis
• COVID-19 Impact Assessment
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors
Customization of the Report:
This report can be customized to meet the client’s requirements. In order to provide more accurate market forecast, all the reports are updated before delivery.
You can mail our sales team at (sales@stratviewresearch.com) and get in touch with us on +1-313-307-4176 to share your research requirements.
About Us: Stratview Research is a trusted global market intelligence and strategic consulting firm providing inclusive range of services to multiple clients across a wide array of industries. Our team of veterans and analysts have extensive experience in executing custom research projects for mid-sized to fortune companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, and more.
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