Photonics Market To Reach US$ 757.3 million in 2023

https://www.coherentmarketinsights.com/market-insight/photonics-market-5563
Photonics Market



Market Key Trends

Photonics refers to the generation, emission, transmission, modulation, signal processing, amplification, switching, sensing and detection of light. Photonics products are increasingly being incorporated across various end-use industries such as telecommunications, healthcare, industrial, consumer electronics and defense sectors. One of the key trends in the photonics market is the increasing adoption of optical components in data centers. With the growth in cloud computing and increasing data traffic, there is a rising need for improving data transmission speeds and increasing bandwidth.

Optical components offer significantly higher data transmission speeds compared to traditional electronic components. Advanced photonics technologies allow transmission of massive amounts of data with lowest latency and are enabling exponential growth in data center capacity. This is expected to drive increasing demand for photonics components such as optical transceivers,switches and interconnects in data center applications over the forecast period.

The global Photonics Market Share is estimated to be valued at US$ 757.3 million in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Segment Analysis

The global photonics market is segmented into type, application and region. Based on type, the market is segmented into optical waveguides, optical modulators, photo detectors, wavelength division multiplexing filters and others. The optical modulators segment dominated the global market in 2023 and is expected to continue its dominance over the forecast period. Optical modulators find widespread application in telecommunications and data transmission due to their ability to modulate electric signals onto optical wavelengths and transmit them over long distances with low attenuation.

Key Takeaways

The global photonics market is expected to witness high growth, exhibiting CAGR of 7.9% over the forecast period 2023 to 2030, due to increasing demand for high-speed telecommunications networks and data transmission.

North America dominated the global market in 2023 and is expected to continue its dominance over the forecast period. Large presence of key players along with significant investments in R&D of photonics technologies by both private and government organizations in the region is driving the market growth.

Key players operating in the photonics market are Carl Zeiss AG (Scantinel Photonics GmbH), Hamamatsu Photonics KK, Schott AG, Intel Corporation, Photonics SAS (Keopsys), Polatis Photonics Inc., Philips Photonics (Trumpf GmbH), Alcatel-Lucent SA, Osram Licht AG, Molex Inc. (Koch Industries), IPG Photonics, Infinera Corporation, Finisar Corporation, NEC Corporation, and Innolume GmbH. Among these, Carl Zeiss AG, Hamamatsu Photonics KK and IPG Photonics collectively account for over 25% of the global market share.


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