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Brighter Future For Photonics Industry - Best is Yet to Come

14 Mar | By Aakash Choudhary
Brighter Future For Photonics Industry - Best is Yet to Come
By: Aakash Choudhary

Global market for photonics has been covered under the scope of this report. 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. Low power consumption of photonics based instruments, consequently reducing operational expenses, is one of the major factors fuelling their demand.

Increasing demand for high speed electronics is another major factor fuelling the demand for photonics globally. The photonics based communication instruments use optical technologies that provide faster data transfer compared to existing technologies, which is an added advantage along with the cost benefit. Thus, increasing demand for high-speed electronics is expected to positively impact the global market for photonics.

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Wavelength division multiplexer filter is one of the major product segments of photonics market. 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. Increasing demand for accurate and fast communication is one of the major factors fueling the demand for amplifiers. Industrialization in emerging economies of Asia Pacific and RoW is also expected to boost the demand for amplifiers in the forecast period.

The application of photonics in the field of medical and healthcare is the fastest growing segment. 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. 

Growing application of photonics is various areas such as medical and healthcare, sensing, metrology, communication, display, consumer electronics, safety and defense technology, and various other is driving the demand in the photonics market. Moreover, demand for photonics is comparatively high in medical and healthcare sector due to increasing demand for early and accurate diagnosis.  

Rising preference for minimally invasive surgeries has also boosted the demand for photonics based instruments in medical and healthcare.  On the other hand, the demand for photonics is also high in displays due to changing requirement of customers and rising disposable income. Emerging economies like India, China, Japan, and others are also driving the demand for displays with the increasing manufacturing utilities in these regions.


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