Northbrook, IL -- (SBWire) -- 10/05/2021 --The report "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 - Global Forecast to 2025" The Photonics market is estimated to be USD 593.7 billion in 2020 and is projected to reach USD 837.8 billion by 2025, at a CAGR of 7.1 % between 2020 to 2025. The Photonics market is driven by the growing application of photonics-enabled products in the healthcare sector, information and communication sector, and industrial sector
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=88194993
The LED segment is the largest type of Photonics market
LED segment account for the largest share in the overall Photonics market. LED products are energy efficient and available at affordable prices—increasing usage of LED in lighting and display applications to drive its demand during the forecast period. APAC accounted for the largest market share of the LED product type segment in 2019. Energy-saving measures drive the surge in demand from applications such as general lighting, automotive, and backlighting.
Information and Communication Technology is the largest application for the Photonics market.
By application, the Photonics market is classified into seven main end use application, namely Displays, Information & communication technology, Photovoltaic, Medical Technology & Life sciences (Bio photonics), Measurement & automated vision, Lighting and Production Technology.
Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=88194993
In the information and communication technology application, Photonics technology is majorly used for data generation, transformation, data transmission and storage, data conversion, and data usage. Devices that are used in each of these processes are a part of the photonics materials & component industry. Also, there are services based on these processes that utilize photonics. The photonics materials & component industry includes devices used for data conversion, amplifier systems, light modulation systems (modulators, switches, and routers), and fiber optic cables.
APAC is estimated to account for the largest market share during the forecast period.
APAC is estimated to be the largest market for Photonics and is also projected to register the fastest CAGR during the forecast period. China is expected to account for the largest share of the market in APAC by 2025. The growing photonics enabled applications, industrial activities, investment in end use industry of Photonics, and labor costs in these countries are the main drivers for the Photonics market.
Key Market Players
The key companies profiled in the Photonics market research report are Signify (The Netherlands), Shin-Etsu Chemical Company (Japan), Nikon Corporation (Japan), SCHOTT (Germany), Hoya (Japan), Corning (U.S), American Elements (U.S), Ohara (Japan), Asahi Glass, II-VI (U.S).
Get 10% Customization on this Report @ https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=88194993
COVID-19 impact on the global Photonics market
Due to the pandemic, demand for Photonics UV-C Led light has increased as it is used to disinfecting the virus. Pandemic also had an adverse impact on various end use industries due to the supply chain disruption, containment restrictions, social distancing norms. Due to the supply chain disruption, the 5G rollout by various countries may get delayed, while the prices of fiber optic may increase as the fiber optic cable producing countries like china have adversely affected.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
Photonics Market Worth $837.8 Billion by 2025 : Growing at a CAGR of 7.1 %
The key companies profiled in the Photonics market research report are Signify (The Netherlands), Shin-Etsu Chemical Company (Japan), Nikon Corporation (Japan), SCHOTT (Germany), Hoya (Japan), Corning (U.S), American Elements (U.S), Ohara (Japan), Asahi Glass, II-VI (U.S).