Photonics Market size to grow by USD 287.13 billion from 2022 to 2027

Jul 20, 2023

NEW YORK, Aug. 1, 2023 /PRNewswire/ -- The photonics market size is estimated to grow by USD 287.13 billion from 2022 to 2027, at a CAGR of 6.11% according to Technavio.

Photonics Market Insights -

Vendors: 15+, Including AIO Core Co. Ltd., ams OSRAM AG, Ayar Labs Inc., Carl Zeiss AG, Corning Inc., Hamamatsu Photonics KK, II VI Inc., Infinera Corp., Innolume GmbH, Intel Corp., International Business Machines Corp., IPG Photonics Corp., Koch Industries Inc., NKT Photonics AS, Nokia Corp., OSCPS Motion Sensing Inc, Polatis Inc., RANVOUS Inc., Sicoya GmbH, and TRUMPF SE Co. KG, among others

Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors

Segments: Application (Consumer electronics, Displays, Safety and defense technology, Medical and healthcare, and Others), Product (WDM filters, Optical modulators, Optical interconnects, Photo detectors, and Others), and Geography (North America, Europe, APAC, Middle East and Africa, and South America)

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Photonics market - Customer LandscapeTo help companies evaluate and develop growth strategies, the report outlines –

Key purchase criteria

Adoption rates

Adoption lifecycle

Drivers of price sensitivity

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Photonics market - Vendor Insights

The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market's competitive landscape and offers information on several market vendors, including AIO Core Co. Ltd., ams OSRAM AG, Ayar Labs Inc., Carl Zeiss AG, Corning Inc., Hamamatsu Photonics KK, II VI Inc., Infinera Corp., Innolume GmbH, Intel Corp., International Business Machines Corp., IPG Photonics Corp., Koch Industries Inc., NKT Photonics AS, Nokia Corp., OSCPS Motion Sensing Inc, Polatis Inc., RANVOUS Inc., Sicoya GmbH, and TRUMPF SE Co. KG

Photonics Market – Market Dynamics

Major Drivers

The reduction in transmission costs and scalability beyond 400G is the major factor notably driving market growth. The increasing adoption of photonics in communication network carriers is driven by its ability to transmit data across multiple end-user establishments on a single wavelength, meeting specific requirements efficiently. This leads to cost reduction as separate wavelengths for different clients are not needed, ensuring optimal bandwidth utilization. Photonics also enables high-capacity services at speeds of 100G and above, further enhancing its appeal. As a result of these advantages, the global photonics market size is anticipated to grow during the forecast period.

Significant Trends

The emergence of optical data centers is a key trend shaping market growth. The growth of cloud-based applications and big data analytics has transformed data center networks, necessitating large and efficient interconnection networks to handle thousands of servers. Optical wavelength division multiplexing (WDM), also known as WDM, offers terabits of data transmission capacity, while optical switching enables fast and energy-efficient switching in intra-data center networks. Photonics plays a crucial role in ultra-high-speed optical switch applications, driving the global photonics market size during the forecast period.

Major challenges

The availability of substitute technologies is one of the key challenges impeding market growth. The availability of substitutes like vertical-cavity surface-emitting lasers (VCSEL) is one of the main reasons hindering the widespread use of photonics. VCSEL is a potential alternative used in fiber optic communications, and its adoption is expected to negatively impact the growth of the photonics market. VCSEL has the capability to enhance communication networks' efficiency and data transfer rates, and it offers advantages in checking for processing issues and material quality during production. These factors are likely to hinder the global photonics market size during the forecast period.

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What are the key data covered in this Photonics Market report?

CAGR of the market during the forecast period

Detailed information on factors that will drive the growth of the photonics market between 2023 and 2027

Precise estimation of the Photonics Market size and its contribution to the market in focus on the parent market

Accurate predictions about upcoming trends and changes in consumer behaviour

Growth of the photonics market across North America, Europe, APAC, Middle East and Africa, and South America

A thorough analysis of the market's competitive landscape and detailed information about vendors

Comprehensive analysis of factors that will challenge the growth of photonics market vendors

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Photonics Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 6.11%

Market growth 2023-2027

USD 287.13 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.42

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

North America at 28%

Key countries

US, China, Japan, Germany, and the UK

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

AIO Core Co. Ltd., ams OSRAM AG, Ayar Labs Inc., Carl Zeiss AG, Corning Inc., Hamamatsu Photonics KK, II VI Inc., Infinera Corp., Innolume GmbH, Intel Corp., International Business Machines Corp., IPG Photonics Corp., Koch Industries Inc., NKT Photonics AS, Nokia Corp., OSCPS Motion Sensing Inc, Polatis Inc., RANVOUS Inc., Sicoya GmbH, and TRUMPF SE Co. KG

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents

1 Executive Summary

1.1 Market overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.2 Market segment analysis

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

4.1 Global photonics market 2017 - 2021

4.2 Application Segment Analysis 2017 - 2021

4.3 Product Segment Analysis 2017 - 2021

4.4 Geography Segment Analysis 2017 - 2021

4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

5.1 Five forces summary

5.2 Bargaining power of buyers

5.3 Bargaining power of suppliers

5.4 Threat of new entrants

5.5 Threat of substitutes

5.6 Threat of rivalry

5.7 Market condition

6 Market Segmentation by Application

6.1 Market segments

6.2 Comparison by Application

6.3 Consumer electronics - Market size and forecast 2022-2027

6.4 Displays - Market size and forecast 2022-2027

6.5 Safety and defense technology - Market size and forecast 2022-2027

6.6 Medical and healthcare - Market size and forecast 2022-2027

6.7 Others - Market size and forecast 2022-2027

6.8 Market opportunity by Application

7 Market Segmentation by Product

7.1 Market segments

7.2 Comparison by Product

7.3 WDM filters - Market size and forecast 2022-2027

7.4 Optical modulators - Market size and forecast 2022-2027

7.5 Optical interconnects - Market size and forecast 2022-2027

7.6 Photo detectors - Market size and forecast 2022-2027

7.7 Others - Market size and forecast 2022-2027

7.8 Market opportunity by Product

8 Customer Landscape

8.1 Customer landscape overview

9 Geographic Landscape

9.1 Geographic segmentation

9.2 Geographic comparison

9.3 North America - Market size and forecast 2022-2027

9.4 Europe - Market size and forecast 2022-2027

9.5 APAC - Market size and forecast 2022-2027

9.6 Middle East and Africa - Market size and forecast 2022-2027

9.7 South America - Market size and forecast 2022-2027

9.8 US - Market size and forecast 2022-2027

9.9 China - Market size and forecast 2022-2027

9.10 Japan - Market size and forecast 2022-2027

9.11 Germany - Market size and forecast 2022-2027

9.12 UK - Market size and forecast 2022-2027

9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

11.3 Landscape disruption

11.4 Industry risks

12 Vendor Analysis

12.1 Vendors covered

12.2 Market positioning of vendors

12.3 ams OSRAM AG

12.4 Ayar Labs Inc.

12.5 Carl Zeiss AG

12.6 Corning Inc.

12.7 Hamamatsu Photonics KK

12.8 II VI Inc.

12.9 Infinera Corp.

12.10 Innolume GmbH

12.11 Intel Corp.

12.12 International Business Machines Corp.

12.13 IPG Photonics Corp.

12.14 Koch Industries Inc.

12.15 Nokia Corp.

12.16 Polatis Inc.

12.17 TRUMPF SE Co. KG

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

13.3 Currency conversion rates for US$

13.4 Research methodology

13.5 List of abbreviations

About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]: www.technavio.com

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