Photonics Market Research Report: Analysis & Forecast to 2030

The demand for energy-efficient products is rising across the world, as these products work efficiently for long operating hours and have low maintenance costs. The governments of different countries are also launching several renewable energy programs for reducing greenhouse gas emissions from various sectors such as industrial, transport, and construction. Attributed to these factors, energy efficiency has become an important parameter for designing different products including high-performance computing systems. Furthermore, the companies are increasingly making use of energy-efficient solutions such as organic light emitting diodes (OLED) and light emitting diodes (LED) that consume less power in order to comply with the government regulations.

Solutions such as OLED and LED are also referred to as photonics products. Photonics is the science of photon generation, detection, and manipulation via emission, transmission, sensing, switching, signal processing, modulation, and amplification. As per the report, in 2019, the global photonics market generated a revenue of $576.8 billion and is projected to reach a value of $1,214.5 billion by 2030, registering a 6.9% CAGR during the forecast period (2020-2030). Other than LEDs, lasers, optical components & systems, and sensors & detectors are the product types of photonics. Among all these, the largest demand is predicted to be created for optical components & systems during the forecast period.

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Photonics Market Research Report: Analysis & Forecast to 2030

The rising adoption of photonics products in communication applications is a key driving factor of the photonics market. Photonics is utilized in communications applications for transferring data. Photonics contains light source as a medium that enables faster way of transferring data than electricity. These days data centers deliver millions of services, processing terabytes of data per second around the world. Due to the growing connectivity of internet, data centers are in need of adding a greater number of servers and fiber optic interconnects for delivering services at a faster rate.

Companies Mentioned:

• Coherent Inc.
• IPG Photonics Corporation
• II-VI Incorporated
• Hamamatsu Photonics K.K.
• Infinera Corporation
• NeoPhotonics Corporation
• Innolume GmbH
• Lumentum Holdings Inc.
• NEC Corporation
• Signify N.V.

Contact Research and Markets
David Murphy

Contact Swissphotonics NTN
Dr. Christoph S. Harder
President Swissphotonics NTN
+41 79 219 90 51

13 April 2020, Beni Muller + Iris Bollinger