Global Photonics Market - 2019-2026
発行: DataM Intelligence
Global Photonics Market Overview
The global photonics market is expected to grow at a CAGR of XX% to reach a market value of USD XX million by 2026.
Photonics is an area of study that involves the use of radiant energy, whose fundamental element is a photon. Devices that run on light have many advantages over those that use electricity. The photonics technology is at the forefront of cutting-edge, high-performance electronics and optical components and systems, enhancing product innovation and development in the fields of display screens, lighting, communication, medical technology & life science, and information technology among many others. The photonics integrated end-products offer energy savings and cost-effectiveness owing to a compact footprint, the maturity of the technology, and the establishment of technology-focused high-end manufacturing facilities.
Global Photonics Market - Market Dynamics
The global market for medical robots is driven by the global focus on the reduction of energy consumption and exploration of alternative renewable energy resources. It has propelled R&D activities in the photonics industry, as the application of the innovative technology ensures commercial and profitable manufacturing of a wide range of end-products. The rise in the integration of photonics processes is owed to the technological advancement of the underlying photonics-based semiconductor technology, as it lowers cost of manufacturing while maintaining the energy efficiency of end-products. Regarding renewable energy generation and lighting devices, the amount of energy consumed is a deciding factor towards the cost analysis and market valuation of end-products. The integration of photonics in the photovoltaics sector and solid-state LED lighting has ensured the commercial launch of inexpensive, mass-produced optical components with high yield output and miniature sizes fit for use in a range of novel optical devices.
However, technological and infrastructural challenges such as energy losses due to lack of smooth integration, and strict environmental regulations regarding the availability of raw materials may hamper the growth of the global medical robot market.
Global Photonics Market - Segment Analysis
By Application, the photonics market is segmented into production technology, measurement, medical technology, communication, lighting, information, display, photovoltaics, and others.
The display segment dominates the market owing to the rise in usage of high-resolution displays and touch-panel displays for portable devices, coupled with the technological innovation of end-products. They have positively influenced the growth of the photonics market in the segment, with consumer electronics goods supplementing the high demand for end-products. The market in the Asia Pacific photonics market is much developed, and leading by market share, owing to the strong presence of panel display manufacturers in China and Japan.
The information sector is the second leading segment owing to the surge displayed by camera modules and their components applicable in smartphones, tablet PCs and automotive applications. The decreasing demand for digital cameras and saturated markets for office automation products have negatively influenced the market scenario for information photonics market but is offset by the surge displayed by camera modules and their components applicable in smartphones, tablet PCs and automotive sectors.
The lighting display is expected to show significant growth during the forecast period owing to the shift from incandescent and fluorescent lamps to LED-based solid-state photonic lamps. The demand from the automotive and general lighting sectors, provide growth opportunities for product portfolio expansion to key market manufacturers. The introduction of new lighting technologies would create additional market demand and compensate for the shrinking replacement offers for conventional lamps, which in turn would assist in the growth of the lighting photonics market owing to the application of photonics-based technologies in the newer lighting end-products.
Global Photonics Market - Geographical Analysis
The Asia Pacific is the leading geographical region owing to the increased focus on photonics-based nanotechnology research and growth of the electronic and renewable energy industries, with China and Japan contributing significantly to the overall market growth. The companies are thus focused on the market in the Asia Pacific and attempt to enter the market through mergers & acquisitions. For instance, in October 2018, Engender Tech, which developed photonics-based livestock breeding technology, has been acquired by global corporate investor CRV International for an undisclosed sum.
The Asia Pacific market is also expected to witness rapid growth during the forecast period owing to strong production performance by Chinese manufacturers, the presence of manufacturing sites in the region, and easy availability of manual workforce, with regional companies also investing in overseas locations. For instance, December 2018, Japan-based Mitsubishi Chemical Holdings announced substantial investments in the US-based DigiLens through its subsidiary Diamond Edge Ventures (DEV) for the development of photonics-based holographic waveguide displays.
Global Photonics Market - Competitive Analysis
Key players are adopting strategies such as mergers and acquisitions, partnerships, and regional expansion to stand out as strong competitors in the market. New and innovative product launches by collaborating is another strategy adopted by the leading players to improve their market presence.
November 2018, Cosemi Technologies Inc., a developer of high-speed connectivity solutions, acquired Optella Co., a provider of optical connectivity for long-reach optical interconnect applications.
November 2018, Geospace Technologies acquired from PGS Americas Inc. all intellectual property and related assets of PGS's OptoSeis fiber optic sensing technology business.
November 2018, Schunk Group Acquired Stake in the optical machinery manufacturer OptoTech by taking over 51 percent of the company shares.
November 2018, Optoelectronic solutions developer Plessey Semiconductors Ltd. entered into a collaboration with the EV Group, a supplier of wafer bonding and lithography equipment, to bring high-performance gallium nitride-on-silicon (GaN-on-Si) monolithic microLED technology to the mass market.
October 2018, Machine Vision technology developer Stemmer Imaging AG acquired a stake in Perception Park GmbH, based in Graz, Austria.
October 2018, Coherent Inc. has completed the acquisition of Ondax, a producer of volume holographic gratings (VHGs), wavelength-stabilized diode lasers, and THz-Raman laser systems.
October 2018, Scintacor Ltd. has acquired the intellectual property, business name, and physical assets of Photonic Science Ltd. by its newly formed group company, Photonic Science and Engineering Ltd.
October 2018, Research and innovation hub Imec and lithographic equipment developer ASML entered the next stage of their extreme UV (EUV) lithography collaboration.
October 2018, Legrand and Lumileds announced a partnership agreement to bring a plug-and-play, tunable, white light to market.
October 2018, Laser Components GmbH and the Fraunhofer Institute for Microelectronic Circuits and Systems (IMS) signed a cooperation agreement for Lidar technology.
September 2018, The Italy-based OLSA Group has entered the open ISELED Alliance which is an open alliance with the objective to provide a complete system solution for automotive lighting solutions to develop and market the digital LED in-vehicle lighting concept.