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Photonics Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020

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The emission, generation, modulation, switching and detection of light are included within photonics. All the applications of light ranging from visible spectrum to ultraviolet rays are covered within photonics. The various applications of photonics include consumer electronics, displays, safety and defense technology, communication, metrology and sensing among others. By product type, the photonics market has been segmented into waveguides, optical modulators, optical interconnects, LED, wavelength division multiplexer filters, photo detectors, lasers, amplifiers and spectroscopes among others.
 
Wavelength division multiplexer filter is one of the major product segments of photonics market. The wavelength division multiplexer filters segment was valued at USD 116.23 billion in 2013. Increasing demand for high speed communication is one of the major factors fueling the demand for wavelength division multiplexer filters. However, amplifier is one of the fastest growing product segments for photonics, growing at a CAGR of 8.9% from 2014 to 2020.
 
The application of photonics in the field of medical and healthcare is the fastest growing segment, growing at a CAGR of 7.4% from 2014 to 2020. Increasing demand for accurate and early diagnosis is one of the major factors fueling the demand for photonics based instruments in the medical and healthcare segment. In addition, the demand for minimally invasive surgeries is also expected to boost the demand for photonics based instruments in medical and healthcare segment globally. However, display is the largest application segment for photonics based instruments valued at USD 128.75 billion in 2013. The exponential growth for the demand of consumer electronics is one of the major factors fueling the demand for displays globally.
 
North America held the largest market share in the global photonics market in 2013 and the photonics market in North America is expected to reach USD 277.02 billion by 2020. Presence of large number of business utilities and increasing demand for high speed and accurate communication are some of the major factors fueling the demand in North America. Europe is second largest market for photonics globally. However, Asia Pacific is the fastest growing market growing at a CAGR of 7.0% from 2014 to 2020. India, China and Japan are some of the major countries boosting the photonics market in Asia Pacific.
 
The photonics market is dominated by few major players. Large capital requirement and rapidly changing technology are some of the major factors inhibiting new entrants from entering the photonics market. Intel Corporation, Hewlett-Packard Company, Hamamatsu Photonics K.K., Finisar Corporation, IBM Corp., Luxtera Inc., Infinera Corp., 3S Photonics S.A.S. and Innolume GmbH among others are the major players operating in the photonics market.

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