Market Snapshot:
Photonics is the process of generating and harnessing light and other forms of radiant energy whose dramatic unit is the photon. It involves cutting-edge uses of lasers, optics, fiber-optics, and electro-optical devices in many and diverse fields of technology. Low power consumption by photonics based instruments and increasing volume of data transfer are some of the significant key factors boosting the global photonics market. However, the susceptibility of photonics devices to thermal effect is hampering the market. Photonics manufacturing makes up around two-thirds of the total reported output from the computing, electronics and optical products sectors.The research analyst at AMA estimates Photonics market to grow at a compounded annual growth rate of 7.9%
Segment Analysis
AMA Research have segmented the market of Global Photonics market by Type, Application and Region. On the basis of Type, LED are dominating the market in the year 2020 where as Lasers, Detectors, Sensors, & Imaging Devices stood as second largest market share.
On the basis of geography, the market of Photonics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2020. Asia Pacific on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Trend
Increasing demand for high speed electronics
Market Drivers
Low power consumption by photonics based instruments and Increasing volume of data transfer
Opportunities
Increasing demand for photonics based instruments in emerging economies and Emergence of Internet 5.0
Restraints
- Susceptibility to thermal effect
In addition to the aforementioned factor, Low power consumption by photonics based instruments
is expected to propel the growth of the market over the forecast period.
Competitive Landscape
The companies are exploring the market in new regions by adopting mergers & acquisitions, expansions, new product launches and collaborations as their preferred strategies. Key players are exploring new geographies through expansions and acquisitions across the world to avail competitive advantage through combined synergies
The key Manufacturers profiled in the study are Philips (Netherlands), Schott (Germany), Nikon Corporation (Japan), Shin-Etsu Chemical Company (Japan), Hoya Corporation (Japan), Corning (United States), Asahi Glass Company (Japan), II-VI Inc. (United States), Ohara Inc. (Japan) and American Elements (United States). A lot of United States and Japanese players are profiled in the research study indicating a strong market dependence.