Product Code: CH 4590
"The photonics market is projected to grow at a CAGR of 7.0% from 2018 to 2023."
The photonics market is projected to grow from USD 556.4 billion in 2018 to USD 780.4 billion by 2023, at a CAGR of 7.0%. The increased demand for photonics in applications such as displays, information & communication technology, photovoltaic, medical technology & life sciences, measurement & automated vision, lighting, and production technology is expected to drive the growth of the photonics market across the globe. Improved properties, such as better energy efficiency and longer lifespan, contribute to the increased demand for photonics. Growing digitalization and increasing preference for smart infrastructures and smart manufacturing are driving the consumption of these products in the global market. Regulations on some chemical substances used in the manufacturing of photonics products act as a restraint for the photonics market growth.
"The production technology application segment is projected to grow at the highest CAGR from 2018 to 2023."
Among the applications, production technology segment of the photonics market is projected to grow at the highest CAGR during the forecast period, in terms of value. This expected high growth is attributed to the increasing use of photonics products to improve the process and energy efficiency of production technologies. Increasing adoption of digital model in production workflows resulting in smart manufacturing is also a driving factor for the market
"The LED segment is estimated to be the largest product type segment during the forecast period."
Based on product type, the LED segment is estimated to lead the photonics market between 2018 and 2023. The growth of this segment is attributed to the increasing use of relatively higher energy-efficient LEDs in the lighting and display applications.
"The Asia Pacific photonics market is projected to grow at the highest CAGR during the forecast period."
The Asia Pacific photonics market is projected to grow at the highest CAGR between 2018 and 2023, due to the growth of the region's end-user industries, such as building & construction; media, broadcasting, & telecommunication; medical; industrial; and security & defense. Urbanization and the continuously growing population are also expected to increase the demand for photonics in this region.
Extensive primary interviews have been conducted to determine and verify the market size for several segments and subsegments.
The break-up of primary interviews has been given below.
- By Company Type: Tier 1 - 50%, Tier 2 - 35%, and Tier 3 - 15%
- By Designation: C Level - 50%, Director Level - 30%, and Others - 20%
- By Region: North America - 45%, Europe - 25%, Asia Pacific - 20%, RoW - 10%
The companies profiled in this market research report include: Signify (Netherlands), SCHOTT (Germany), Nikon (Japan), Shin-Etsu Chemical Company (Japan), HOYA (Japan), Corning (US), Asahi Glass (Japan), II-VI Inc.(US), OHARA (Japan), and American Elements (US).
Research Coverage:
This research report has categorized the photonics market on the basis of product type, application, end-use industry, and region. It includes detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the photonics market. A detailed analysis of the key players has been done to provide insights on their business overviews, products & services offered, and key strategies, such as investments & expansions and mergers & acquisitions, adopted by them to strengthen their position in the photonics market.
Reasons to Buy the Report:
The report is expected to help market leaders/new entrants in this market in the following ways:
- 1. This report comprehensively segments the photonics market and provides the closest approximations of the market sizes for the overall market and its sub-segments across different regions.
- 2. The report is expected to help the stakeholders understand the pulse of the market and provide them information on the key market drivers, restraints, challenges, and opportunities.
- 3. This report is also expected to help the stakeholders understand major competitors in the market and gain insights to enhance their competitive positions in the market. The competitive landscape section includes major industry players from different regions, contributing to the market.
TABLE OF CONTENTS
1 INTRODUCTION
- 1.1 OBJECTIVES OF THE STUDY
- 1.2 MARKET DEFINITION
- 1.3 MARKET SCOPE
- 1.3.1 MARKET SEGMENTATION
- 1.3.2 REGIONS COVERED
- 1.3.3 YEARS CONSIDERED FOR THE STUDY
- 1.4 CURRENCY
- 1.5 STAKEHOLDERS
2 RESEARCH METHODOLOGY
- 2.1 RESEARCH DATA
- 2.1.1 SECONDARY DATA
- 2.1.1.1 Key data from secondary sources
- 2.1.2 PRIMARY DATA
- 2.1.2.1 Key data from primary sources
- 2.1.2.2 Key industry insights
- 2.1.2.3 Breakdown of primary interviews
- 2.2 MARKET SIZE ESTIMATION
- 2.2.1 BOTTOM-UP APPROACH
- 2.2.2 TOP-DOWN APPROACH
- 2.3 DATA TRIANGULATION
- 2.4 ASSUMPTIONS
- 2.5 LIMITATIONS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
- 4.1 ATTRACTIVE OPPORTUNITIES IN THE PHOTONICS MARKET
- 4.2 APAC PHOTONICS MARKET, BY PRODUCT TYPE AND COUNTRY
- 4.3 PHOTONICS MARKET, BY KEY COUNTRIES
5 MARKET OVERVIEW
- 5.1 INTRODUCTION
- 5.2 MARKET DYNAMICS
- 5.2.1 DRIVERS
- 5.2.1.1 Need for energy-efficient products
- 5.2.1.2 Increasing adoption of photonics products in various applications
- 5.2.2 RESTRAINTS
- 5.2.2.1 Stringent environmental regulations hampering the performance of photonics products
- 5.2.3 OPPORTUNITIES
- 5.2.3.1 Technological advancements leading to new innovative avenues
- 5.2.4 CHALLENGES
- 5.2.4.1 High cost of photonics-enabled products and services
- 5.2.4.2 Intense competition in the market
- 5.3 PORTER'S FIVE FORCES ANALYSIS
- 5.3.1 BARGAINING POWER OF SUPPLIERS
- 5.3.2 THREAT OF NEW ENTRANTS
- 5.3.3 THREAT OF SUBSTITUTES
- 5.3.4 BARGAINING POWER OF BUYERS
- 5.3.5 INTENSITY OF COMPETITIVE RIVALRY
6 PHOTONICS MARKET, BY PRODUCT TYPE
- 6.1 INTRODUCTION
- 6.2 LED
- 6.2.1 INCREASING USAGE OF LED IN LIGHTING AND DISPLAY APPLICATIONS TO DRIVE ITS DEMAND DURING THE FORECAST PERIOD
- 6.3 LASERS, DETECTORS, AND SENSORS & IMAGING DEVICES
- 6.3.1 THE ADOPTION PHOTONICS PRODUCTS IN VARIOUS APPLICATIONS IS DRIVING THIS PRODUCT TYPE SEGMENT
- 6.4 OPTICAL COMMUNICATION SYSTEMS & COMPONENTS
- 6.4.1 TECHNOLOGICAL ADVANCEMENTS IN OPTICAL NETWORKS OFFERING HIGHER CAPACITY WITH LOWER COST IS LIKELY TO BOOST THE OPTICAL COMMUNICATION SYSTEMS & COMPONENTS SEGMENT
- 6.5 CONSUMER ELECTRONICS & DEVICES
- 6.5.1 INTEGRATED PRODUCTS WITH BETTER PERFORMANCE AND EFFICIENT DATA TRANSFER WILL INCREASE THE DEMAND FOR SMART DEVICES
- 6.6 OTHERS
7 PHOTONICS MARKET, BY APPLICATION
- 7.1 INTRODUCTION
- 7.2 DISPLAY
- 7.2.1 DISPLAY IN MOBILE DEVICES
- 7.2.1.1 Penetration of smartphones will drive the display market in mobile devices
- 7.2.2 DISPLAY IN TELEVISION
- 7.2.2.1 LED and OLED are boosting the display market in the television segment
- 7.3 INFORMATION & COMMUNICATION TECHNOLOGY
- 7.3.1 DATA TRANSMISSION
- 7.3.1.1 Increasing demand for high-speed Internet to boost the demand for fiber optic data transmission
- 7.3.2 DATA STORAGE
- 7.3.2.1 The cloud storage technology is catering to the increasing demand for data storage
- 7.4 PHOTOVOLTAIC
- 7.4.1 THE RISING DEMAND FOR CLEAN ENERGY IS FUELING THE GROWTH OF THE PHOTOVOLTAIC SECTOR
- 7.5 MEDICAL TECHNOLOGY & LIFE SCIENCES
- 7.5.1 PHOTONICS IN MEDICAL DIAGNOSTICS
- 7.5.1.1 Growth in the incidence of various diseases will increase the use of photonics in medical diagnostics
- 7.5.2 PHOTONICS IN SURGERIES
- 7.5.2.1 Increasing demand for minimally invasive therapeutic techniques is driving the demand for photonics in surgeries
- 7.6 MEASUREMENT & AUTOMATED VISION
- 7.6.1 MEASURING INSTRUMENTS
- 7.6.1.1 Technological advancements in measuring instruments are driving the photonics market
- 7.6.2 AUTOMATED VISION
- 7.6.2.1 Lesser human intervention and better efficiency are driving the demand for photonics in the automated vision application
- 7.7 LIGHTING
- 7.7.1 CFL
- 7.7.1.1 The use of mercury in CFL is leading to its replacement by LED
- 7.7.2 LED
- 7.7.2.1 Energy savings and longer life span of LED are augmenting the market
- 7.8 PRODUCTION TECHNOLOGY
- 7.8.1 ADOPTION OF INDUSTRY 4.0 WILL DRIVE THE PRODUCTION TECHNOLOGY SEGMENT
- 7.9 OTHERS
8 PHOTONICS MARKET, BY END-USE INDUSTRY
- 8.1 INTRODUCTION
- 8.2 BUILDING & CONSTRUCTION
- 8.2.1 SMART CITIES CONSTRUCTION
- 8.2.1.1 Increasing smart city projects are driving energy-efficient and technologically advanced photonics-enabled products and services
- 8.3 MEDIA, BROADCASTING & TELECOMMUNICATION
- 8.3.1 OPTICAL FIBERS WILL DRIVE THE MARKET IN THE MEDIA, BROADCASTING & TELECOMMUNICATION SEGMENT
- 8.4 CONSUMER & BUSINESS AUTOMATION
- 8.4.1 NEED FOR IMPROVEMENT IN PROCESS EFFICIENCY AND IMPLEMENTATION OF INDUSTRY 4.0 ARE BOSOTING THE CONSUMER & BUSINESS AUTOMATION END-USE SEGMENT
- 8.5 MEDICAL
- 8.5.1 INCREASING DEMAND IN HEALTHCARE APPLICATIONS IS AUGMENTING THE MARKET IN THE MEDICAL DEVICES SEGMENT
- 8.6 SECURITY & DEFENSE
- 8.6.1 REQUIREMENT OF HI-TECH DEFENSE SYSTEMS IS INCREASING THE DEMAND FOR PHOTONICS IN THE SECURITY & DEFENSE END-USE INDUSTRY
- 8.7 INDUSTRIAL
- 8.7.1 REDUCING CARBON FOOTPRINT IN MANUFACTURING PLANTS IS FUELING THE PHOTONICS MARKET IN THE INDUSTRIAL SEGMENT
- 8.8 OTHERS
9 PHOTONICS MARKET, BY REGION
- 9.1 INTRODUCTION
- 9.2 NORTH AMERICA
- 9.2.1 US
- 9.2.1.1 Technological advancements to drive the usage of photonics products in US
- 9.2.2 CANADA
- 9.2.2.1 High usage of photonics products in ICT sector is the driving factor for the photonics market in Canada
- 9.2.3 MEXICO
- 9.2.3.1 Technological advancements in lighting will drive the photonics market in Mexico
- 9.3 EUROPE
- 9.3.1 GERMANY
- 9.3.1.1 Medical technology & life sciences to be the fastest-growing application of photonics in Germany
- 9.3.2 FRANCE
- 9.3.2.1 Increasing demand from production technology segment will drive the photonics market in France
- 9.3.3 THE NETHERLANDS
- 9.3.3.1 Increasing trend of implementing automation in manufacturing sector will drive the photonics market in the Netherlands
- 9.3.4 UK
- 9.3.4.1 Increasing focus on renewable sources for energy generation will drive the photonics market in UK
- 9.3.5 ITALY
- 9.3.5.1 Growth of ICT sector to drive the photonics market in Italy
- 9.3.6 SWITZERLAND
- 9.3.6.1 Increasing focus on advancement in the medical sector drive the demand for photonics product in Switzerland
- 9.3.7 REST OF EUROPE
- 9.4 APAC
- 9.4.1 JAPAN
- 9.4.1.1 Market in Japan set to grow at relatively slow rate due to maturity of market
- 9.4.2 CHINA
- 9.4.2.1 Adoption of automation in manufacturing sector will drive the photonics market in China during the forecast period.
- 9.4.3 SOUTH KOREA
- 9.4.3.1 Technological advancements in the information & communication technology will drive the photonics market in South Korea
- 9.4.4 INDIA
- 9.4.4.1 The growth of photovoltaic sector is one of the key factor driving the photonics market in India
- 9.4.5 TAIWAN
- 9.4.5.1 Technological advancements in information & communication technology will drive the photonics market in Taiwan
- 9.4.6 REST OF APAC
- 9.5 MIDDLE EAST & AFRICA
- 9.5.1 SAUDI ARABIA
- 9.5.1.1 The focus on non-oil sectors is expected to drive the market for photonics during the forecast period
- 9.5.2 SOUTH AFRICA
- 9.5.2.1 Low levels of penetration of photonics products in the country provide opportunities for market growth
- 9.5.3 REST OF THE MIDDLE EAST & AFRICA
- 9.6 SOUTH AMERICA
- 9.6.1 BRAZIL
- 9.6.1.1 Government initiatives are expected to increase the demand for photonics in Brazil
- 9.6.2 ARGENTINA
- 9.6.2.1 Increasing adoption of photonics in various applications and government initiatives are supporting the market in Argentina
- 9.6.3 REST OF SOUTH AMERICA
10 COMPETITIVE LANDSCAPE
- 10.1 OVERVIEW
- 10.2 COMPETITIVE SCENARIO
- 10.2.1 EXPANSION
- 10.2.2 NEW PRODUCT LAUNCH
- 10.2.3 MERGER & ACQUISITION
- 10.2.4 AGREEMENT/PARTNERSHIP
11 COMPANY PROFILES
(Business overview, Products offered, Recent developments, SWOT analysis & MnM View)*
- 11.1 SIGNIFY
- 11.2 SCHOTT
- 11.3 SHIN-ETSU CHEMICAL COMPANY
- 11.4 NIKON CORPORATION
- 11.5 HOYA
- 11.6 CORNING
- 11.7 AMERICAN ELEMENTS
- 11.8 OHARA
- 11.9 ASAHI GLASS
- 11.10 II-VI
- 11.11 OTHER COMPANIES
- 11.11.1 HUAWEI TECHNOLOGIES
- 11.11.2 CISCO SYSTEMS
- 11.11.3 COHERENT INC.
- 11.11.4 TRUMPF GROUP
- 11.11.5 GENERAL ELECTRIC COMPANY
- 11.11.6 TOSHIBA MEDICAL SYSTEMS CORPORATION (TOSHIBA CORPORATION)
- 11.11.7 HITACHI
- 11.11.8 EMERSON
- 11.11.9 SIEMENS
- 11.11.10 LG DISPLAY CO., LTD.
- 11.11.11 SAMSUNG ELECTRONICS
- 11.11.12 INNOLUX
- 11.11.13 OSRAM LICHT
- 11.11.14 TRINA SOLAR
- 11.11.15 IPG PHOTONICS
Details on Business overview, Products offered, Recent developments, SWOT analysis & MnM View might not be captured in case of unlisted companies.
12 APPENDIX
- 12.1 DISCUSSION GUIDE
- 12.2 KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL
- 12.3 AVAILABLE CUSTOMIZATIONS
- 12.4 RELATED REPORTS
- 12.5 AUTHOR DETAILS
