Photonics exhibit ubiquitous applications, which encompass diverse areas of everyday life alongside the most advanced fields of science. Increasing demand for efficient and highly capable electronics products, coupled with escalating volume of data transfer, are the major forces driving the demand for photonics across a multitude of application sectors. Just as applications of electronics have expanded incredibly ever since the invention of the first transistor in 1947, unique applications of photonics are continuing to emerge with the evolution of new technologies. Some of the major application segments of the photonics market include telecommunication, light detection, information processing, metrology, lighting, holography, spectroscopy, medicine, military technology, medical and healthcare, consumer electronics, and others.
As per the findings of a report published by Transparency Market Research, owing to its diverse applications across industrial domains, the global photonics market, which stood at US$509.75 billion in 2013, is poised to reach US$765.89 billion by 2020. The market is therefore expected to develop at a 5.8% CAGR between 2014 and 2020.
Browse Market Research Report of Photonics Market: http://www.transparencymarketresearch.com/photonics-market.html
How are Photonics-based Devices Improving Operations of Key Application Segments?
Photonics offers low-cost integration of diverse components at an ultra-large scale and provides high speed transmission of data, which is augmenting its demand around the world. According to the latest research, innovative applications and launch of robust technologies are driving the market for photonics devices. Rising demand for photonics in both emerging and established industries also positively impacts the global photonics market. Let’s take a look at the key applications of photonics technology and devices across a few industries:
- Photonics for Telecommunications
Browse Market Research Press Release of Photonics Market: http://www.transparencymarketresearch.com/pressrelease/photonics-market.htm
- Photonics for Medical and Healthcare
- Photonics for Display
Despite its diverse and increasing application, the global photonics market is dominated by a handful of players. Major players in the global photonics market include Hamamatsu Photonics K.K., Hewlett-Packard Company, Intel Corporation, Infinera Corp., Finisar Corporation, 3S Photonics S.A.S., IBM Corp., Luxtera Inc., and Innolume GmbH.