Photonics Market

Photonics Market by Product Type (LED and Lasers, Detectors, Sensors & Imaging Devices), Application (ICT and Production Tech.), End-Use Industry (Media, Broadcasting & Telecommunication and Consumer & Business Automation) - Global Forecast to 2023

Report Code: CH 4590 Oct, 2019, by marketsandmarkets.com
Updated date -

[155 Pages Report] 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% from 2018 to 2023. The need for energy efficient products and increasing adoption of photonics products in various applications are the key drivers for the growth of the photonics market globally.

Photonics Market

Market Dynamics

Need for energy-efficient products

Intense R&D activities are carried out for the development of energy-efficient products and processes. Photonics-enabled products and services serve as a suitable alternative for conventionally used products. For instance, photonics are used in the field of alternative energy in photovoltaic cells. According to DNV GL, renewable energy is expected to account for about 48.0% of the global primary energy supply by 2050, with solar photovoltaic energy accounting for nearly 13.5% of the global energy supply by 2050. Solar energy is seen as an effective replacement for electricity generation using conventional fuel such as coal and oil & gas. In addition to energy generation, use of photonics products in lighting and displays also provides a significant reduction in energy consumption. The use of LED over conventionally used lightings such as incandescent and CFL has resulted in a substantial decrease in energy consumption.

Stringent environmental regulations hampering the performance of photonics products

Though photonics products are generally eco-friendly, a few chemicals added to the products for enhancing the performance are considered to be environmentally hazardous. Chemicals such as arsenic oxide and boron oxide are considered to be toxic, and their usage is restricted by regulatory bodies such as the REACH and the RoHS. Arsenic oxide is used in UV detectors, sensors, and other photonics products.

Lead, mercury, and cadmium are also added to photonics products, which are on the list of hazardous materials. Regulations on these materials are hampering the performance of the products. According to The International Society of Optics and Photonics (SPIE), the regulations on certain hazardous substances used in electrical and electronics equipment by authorities such as RoHS and REACH have hampered the optical glass manufacturing. Also, CFL, which competes with LED, suffers a disadvantage because of the use of mercury that is harmful to the environment. Similarly, the usage of polysilicon in the manufacturing of photovoltaic cells is also hampering the performance of photonics products.

Intense competition in the market challenging the market growth

Photonics products have gathered much attention because of their excellent performance and energy saving capabilities. They are used widely, and their markets are price driven. However, photonics products are cost effective in the long run due to their durability and energy saving capabilities. There is a rising level of competition in the market owing to the presence of large number of established players. These players adopt various organic and inorganic strategies to gain market share along with a high focus on R&D activities. Laser-based equipment manufacturers, for instance, bring innovations in their products to stand out as a manufacturer of unique laser equipment for a specific application and boost their market share. Development of innovative products and conducting demonstrations & exhibitions are the strategies adopted by market players to increase their shares and enter new markets. Similarly, in advanced lighting, key LED manufacturers such as Signify and GE have huge manufacturing capabilities that enable them to achieve economies of scale and reduce the price of their products. These strategies increase the intensity of competition among market players as well as new entrants.

Information & communication technology is estimated to be the largest end-use industry during the forecast period.

On the basis of application, Information & communication technology accounted for the largest share of the overall photonics market and this trend is expected to continue during the forecast period. The market for photonics products in information & communication technology is driven by the increase in data usage and the increasing number of internet users. Technological advancements in the field of information & communication technology such as digitization, open internet initiative, and high-speed fiber optics internet connectivity are expected to boost the market for photonics. Also, several initiatives such as 5G public-private partnership (PPP) and the Future Hyper connected sociality under the Horizon 2020 EU Research and innovation program is expected to boost the market for photonics in the information & communication technology segment.

Consumer electronics & devices is projected to be the fastest growing product type segment of the photonics market during the forecast period.

The consumer electronics segment includes holography, watches, scanners, optical computer devices such as an optical mouse, and wearable devices. The demand for these products is increasing rapidly owing to better performance than its alternatives. These products are usually integrated with another system for constant monitoring and efficient data transfer. For instance, wearable watches are used for efficient monitoring of an individual. Increasing adoption of these devices is expected to drive the market for photonics products in this segment.

Photonics Market

APAC is projected to be the largest market during the forecast period.

APAC is the largest photonics market, and this trend is expected to continue until 2023. China accounted for the largest market in the region, followed by Japan, South Korea, and India in the year 2017. The consumer electronics, retail, BFSI, healthcare, transportation, and sports & entertainment industries are expected to contribute substantially to the growth of the photonics market in APAC. These industries offer a huge potential for the photonics market because of increasing awareness among consumers and rising adoption of electronic devices in various industries, especially in countries such as China, India, and South Korea. The increased construction activities in APAC are contributing significantly to the growth of the photonics market in the region

Key Players

The leading players in the photonics market are  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).  These players adopted expansions, acquisitions, new product launches, and agreements as their key growth strategies from 2014 to 2018, which helped them increase their capacities and cater to the widening customer base.

Schott is capitalizing on its strong research & development capability to broaden its reach in the photonics market by frequently launching new products. The company focuses on growth opportunities in existing key markets such as North America and Europe and in emerging economies of APAC and South America. The company is dependent on Europe for its larger share of the revenue. The company intends to create a strong consumer base in the existing markets and increase its reach to untapped markets of APAC and South America.

Scope of the report

Report Metric

Details

Market size available for years

2017–2023

Base year considered

2017

Forecast period

2018–2023

Forecast units

Value (USD)

Segments covered

Product Type, Application, End-use Industry, and Region

Geographies covered

North America, APAC, Europe, Middle East & Africa, and South America

Companies covered

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)

This research report categorizes the global photonics market on the basis of the application, type, and region.

On the basis of product type:

  • LED
  • Optical Communication systems & Networking Components
  • Lasers, Detectors, Sensors and Imaging Devices
  • Others

On the basis of the application:

  • Displays
  • Information & Communication Technology
  • Photovoltaic
  • Medical Technology & Life Sciences
  • Measurement & Automated Vision
  • Lighting
  • Production Technology
  • Others

On the basis of the end-user industry:

  • Building & Construction
  • Media, Broadcasting & Telecommunication
  • Consumer & Business Automation
  • Medical
  • Security & Defense
  • Industrial
  • Others

On the basis of region:

  • North America
  • Europe & Russia
  • APAC
  • Middle East & Africa
  • South America

The market is further analyzed for the key countries in each of these regions.

Recent Developments

  • In December 2018, Nikon invested in USD 25.0 million in Velodyne LiDAR Inc., a company that manufactures LiDAR sensors. Both the companies are collaborating in technology and manufacturing and finding new business opportunities.
  • In December 2018, II-VI Inc. increased the capacity of diamond windows. II-VI is a strategic supplier of high performance CVD diamond windows for TRUMPF's high power CO2 laser systems that enable EUV lithography. The expansion enabled TRUMPF to meet the growing demand for its laser systems.”

Key Questions Addressed by the Report

  • What are the global demand trends for photonics? Will the market witness an increase or decline in demand in the coming years?
  • What is the estimated demand for photonics? Which type is used the most in end-use industries?
  • What were the revenue pockets for the photonics market in 2017?
  • What are the upcoming technologies/product areas that will have a significant impact on the market in the future?
  • Who are the major manufacturers of photonics products, globally?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 21)
    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 (Page No. - 24)
    2.1 Research Data
           Figure 1 Photonics Market: Research Design
           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
                    Figure 2 Photonics Market: Bottom-Up Approach
           2.2.2 Top-Down Approach
                    Figure 3 Photonics Market: Top-Down Approach
    2.3 Data Triangulation
           Figure 4 Photonics Market: Data Triangulation
    2.4 Assumptions
    2.5 Limitations

3 Executive Summary (Page No. - 32)
     Figure 5 LED Held the Largest Share in the Photonics Market in 2017
     Figure 6 Information & Communication Technology Was the Largest Application of Photonics in 2017
     Figure 7 Media, Broadcasting & Telecommunication End-Use Industry Segment to Lead the Photonics Market
     Figure 8 APAC to Register the Highest Cagr in the Photonics Market

4 Premium Insights (Page No. - 36)
    4.1 Attractive Opportunities in the Photonics Market
           Figure 9 Increasing Demand From APAC to Drive the Photonics Market
    4.2 APAC Photonics Market, By Product Type and Country
           Figure 10 LED Product Type Segment and China Accounted for the Largest Share in the APAC Photonics Market in 2017
    4.3 Photonics Market, By Key Countries
           Figure 11 India to Witness the Highest Growth Rate in the Market

5 Market Overview (Page No. - 38)
    5.1 Introduction
    5.2 Market Dynamics
           Figure 12 Drivers, Restraints, Opportunities, and Challenges: Photonics Market
           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
           Figure 13 Photonics Market: 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 (Page No. - 43)
    6.1 Introduction
           Figure 14 LED Product Type Was the Largest Segment of the Photonics Market in 2017
           Table 1 Photonics Market Size, By Product Type, 2016–2023 (USD Billion)
    6.2 LED
           6.2.1 Increasing Usage of LED in Lighting and Display Applications to Drive Its Demand During the Forecast Period
                    Table 2 LED: Photonics Market Size, By Region, 2016–2023 (USD Billion)
    6.3 Lasers, Detectors, and Sensors & Imaging Devices
           6.3.1 The Adoption Photonics Products in Various Applications is Driving This Product Type Segment
                    Table 3 Lasers, Detectors, and Sensors & Imaging Devices: Photonics Market Size,  By Region, 2016–2023 (USD Billion)
    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
                    Table 4 Optical Communication Systems & Components: Photonics Market Size,  By Region, 2016–2023 (USD Billion)
    6.5 Consumer Electronics & Devices
           6.5.1 Integrated Products With Better Performance and Efficient Data Transfer Will Increase the Demand for Smart Devices
                    Table 5 Consumer Electronics & Devices: Photonics Market Size, By Region,  2016–2023 (USD Billion)
    6.6 Others
           Table 6 Others: Photonics Market Size, By Region, 2016–2023(USD Billion)

7 Photonics Market, By Application (Page No. - 50)
    7.1 Introduction
           Figure 15 Information & Communication Technology Application LED the Photonics Market in 2017
           Table 7 Photonics Market Size, By Application, 2016–2023(USD Billion)
    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
                               Table 8 Photonics Market Size in Display, By Region, 2016–2023 (USD Billion)
    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
                               Table 9 Photonics Market Size in Information & Communication Technology,  By Region, 2016–2023 (USD Billion)
    7.4 Photovoltaic
           7.4.1 The Rising Demand for Clean Energy is Fueling the Growth of the Photovoltaic Sector
                    Table 10 Photonics Market Size in Photovoltaic, By Region, 2016–2023 (USD Billion)
    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
                               Table 11 Photonics Market Size in Medical Technology & Life Sciences, By Region, 2016–2023 (USD Billion)
    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
                               Table 12 Photonics Market Size in Measurement & Automated Vision, By Region,  2016–2023 (USD Billion)
    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
                               Table 13 Photonics Market Size in Lighting, By Region, 2016–2023 (USD Billion)
    7.8 Production Technology
           7.8.1 Adoption of Industry 4.0 Will Drive the Production Technology Segment
                    Table 14 Photonics Market Size in Production Technology, By Region,  2016–2023 (USD Billion)
    7.9 Others
           Table 15 Photonics Market Size in Other Applications, By Region,  2016–2023 (USD Billion)

8 Photonics Market, By End-Use Industry (Page No. - 61)
    8.1 Introduction
           Figure 16 Media, Broadcasting & Telecommunication Was the Largest End-Use Industry of Photonics in 2017
           Table 16 Photonics Market Size, By End-Use Industry, 2016–2023 (USD Billion)
    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
                               Table 17 Photonics Market Size in Building & Construction,By Region,  2016–2023 (USD Billion)
    8.3 Media, Broadcasting & Telecommunication
           8.3.1 Optical Fibers Will Drive the Market in the Media, Broadcasting & Telecommunication Segment
                               Table 18 Photonics Market Size in Media, Broadcasting & Telecommunication,  By Region, 2016–2023 (USD Billion)
    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
                    Table 19 Photonics Market Size in Consumer & Business Automation, By Region,  2016–2023 (USD Billion)
    8.5 Medical
           8.5.1 Increasing Demand in Healthcare Applications is Augmenting the Market in the Medical Devices Segment
                    Table 20 Photonics Market Size in Medical, By Region, 2016–2023 (USD Billion)
    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
                    Table 21 Photonics Market Size in Security & Defense, By Region,  2016–2023 (USD Billion)
    8.7 Industrial
           8.7.1 Reducing Carbon Footprint in Manufacturing Plants is Fueling the Photonics Market in the Industrial Segment
                    Table 22 Photonics Market Size in Industrial, By Region, 2016–2023 (USD Billion)
    8.8 Others
                    Table 23 Photonics Market Size in Other End-Use Industries, By Region,  2016–2023 (USD Billion)

9 Photonics Market, By Region (Page No. - 70)
    9.1 Introduction
           Figure 17 Emerging Markets are New Strategic Locations of Rapid Growth
           Table 24 Photonics Market Size, By Region, 2016–2023 (USD Billion)
    9.2 North America
           Figure 18 North America: Photonics Market Snapshot
           Table 25 North America: Photonics Market Size, By Country, 2016–2023 (USD Billion)
           Table 26 North America: Photonics Market Size, By Product Type,  2016–2023 (USD Billion)
           Table 27 North America: Photonics Market Size, By Application,  2016–2023 (USD Billion)
           Table 28 North America: Photonics Market Size, By End-Use Industry,  2016–2023 (USD Billion)
           9.2.1 US
                    9.2.1.1 Technological Advancements to Drive the Usage of Photonics Products in US
                               Table 29 US: Photonics Market Size, By Application, 2016–2023 (USD Billion)
                               Table 30 US: Photonics Market Size, By End-Use Industry, 2016–2023 (USD Billion)
           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
                               Table 31 Canada: Photonics Market Size, By Application, 2016–2023 (USD Billion)
                                                           Table 32 Canada: Photonics Market Size, By End-Use Industry, 2016–2023 (USD Billion)
           9.2.3 Mexico
                    9.2.3.1 Technological Advancements in Lighting Will Drive the Photonics Market in Mexico
                               Table 33 Mexico: Photonics Market Size, By Application, 2016–2023 (USD Billion)
                               Table 34 Mexico: Photonics Market Size, By End-Use Industry, 2016–2023 (USD Billion)
    9.3 Europe
           Figure 19 Europe: Photonics Market Snapshot
           Table 35 Europe: Photonics Market Size, By Country, 2016–2023(USD Billion)
           Table 36 Europe: Photonics Market Size, By Product Type, 2016–2023 (USD Billion)
           Table 37 Europe: Photonics Market Size, By Application, 2016–2023 (USD Billion)
           Table 38 Europe: Photonics Market Size, By End-Use Industry, 2016–2023 (USD Billion)
           9.3.1 Germany
                    9.3.1.1 Medical Technology & Life Sciences to Be the Fastest-Growing Application of Photonics in Germany
                               Table 39 Germany: Photonics Market Size, By Application, 2016–2023 (USD Billion)
                               Table 40 Germany: Photonics Market Size, By End-Use Industry,  2016–2023 (USD Billion)
           9.3.2 France
                    9.3.2.1 Increasing Demand From Production Technology Segment Will Drive the Photonics Market in France
                               Table 41 France: Photonics Market Size, By Application, 2016–2023 (USD Billion)
                               Table 42 France: Photonics Market Size, By End-Use Industry, 2016–2023 (USD Billion)
           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
                               Table 43 Netherlands: Photonics Market Size, By Application, 2016–2023 (USD Billion)
                               Table 44 Netherlands: Photonics Market Size, By End-Use Industry,  2016–2023 (USD Billion)
           9.3.4 Uk
                    9.3.4.1 Increasing Focus on Renewable Sources for Energy Generation Will Drive the Photonics Market in Uk
                               Table 45 Uk: Photonics Market Size, By Application, 2016–2023 (USD Billion)
                               Table 46 Uk: Photonics Market Size, By End-Use Industry, 2016–2023 (USD Billion)
           9.3.5 Italy
                    9.3.5.1 Growth of Ict Sector to Drive the Photonics Market in Italy
                               Table 47 Italy: Photonics Market Size, By Application, 2016–2023 (USD Billion)
                               Table 48 Italy: Photonics Market Size, By End-Use Industry, 2016–2023 (USD Billion)
           9.3.6 Switzerland
                    9.3.6.1 Increasing Focus on Advancement in the Medical Sector Drive the Demand for Photonics Product in Switzerland
                               Table 49 Switzerland: Photonics Market Size, By Application, 2016–2023 (USD Billion)
                               Table 50 Switzerland: Photonics Market Size, By End-Use Industry,  2016–2023 (USD Billion)
           9.3.7 Rest of Europe
                    Table 51 Rest of Europe: Photonics Market Size, By Application,  2016–2023 (USD Billion)
                    Table 52 Rest of Europe: Photonics Market Size, By End-Use Industry,  2016–2023 (USD Billion)
    9.4 APAC
           Figure 20 APAC: Photonics Market Snapshot
           Table 53 APAC: Photonics Market Size, By Country, 2016–2023 (USD Billion)
           Table 54 APAC: Photonics Market Size, By Product Type, 2016–2023 (USD Billion)
           Table 55 APAC: Photonics Market Size, By Application, 2016–2023 (USD Billion)
           Table 56 APAC: Photonics Market Size, By End-Use Industry, 2016–2023 (USD Billion)
           9.4.1 Japan
                    9.4.1.1 Market in Japan Set to Grow at Relatively Slow Rate Due to Maturity of Market
                               Table 57 Japan: Photonics Market Size, By Application, 2016–2023 (USD Billion)
                               Table 58 Japan: Photonics Market Size, By End-Use Industry, 2016–2023 (USD Billion)
           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.
                               Table 59 China: Photonics Market Size, By Application, 2016–2023 (USD Billion)
                               Table 60 China: Photonics Market Size, By End-Use Industry, 2016–2023 (USD Billion)
           9.4.3 South Korea
                    9.4.3.1 Technological Advancements in the Information & Communication Technology Will Drive the Photonics Market in South Korea
                               Table 61 South Korea: Photonics Market Size, By Application, 2016–2023 (USD Billion)
                               Table 62 South Korea: Photonics Market Size, By End-Use Industry,  2016–2023 (USD Billion)
           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
                               Table 63 India: Photonics Market Size, By Application, 2016–2023 (USD Billion)
                               Table 64 India: Photonics Market Size, By End-Use Industry, 2016–2023 (USD Billion)
           9.4.5 Taiwan
                    9.4.5.1 Technological Advancements in Information & Communication Technology Will Drive the Photonics Market in Taiwan
                               Table 65 Taiwan: Photonics Market Size, By Application, 2016–2023 (USD Billion)
                               Table 66 Taiwan: Photonics Market Size, By End-Use Industry, 2016–2023 (USD Billion)
           9.4.6 Rest of APAC
                    Table 67 Rest of APAC: Photonics Market Size, By Application, 2016–2023 (USD Billion)
                    Table 68 Rest of APAC: Photonics Market Size, By End-Use Industry,  2016–2023 (USD Billion)
    9.5 Middle East & Africa
           Table 69 Middle East & Africa: Photonics Market Size, By Country,  2016–2023 (Usd Billion)
           Table 70 Middle East & Africa: Photonics Market Size, By Product Type,  2016–2023 (Usd Billion)
           Table 71 Middle East & Africa: Photonics Market Size, By Application,  2016–2023 (Usd Billion)
           Table 72 Middle East & Africa: Photonics Market Size, By End-Use Industry,  2016–2023 (Usd Billion)
           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
                               Table 73 Saudi Arabia: Photonics Market Size, By Application, 2016–2023 (Usd Billion)
                               Table 74 Saudi Arabia: Photonics Market Size, By End-Use Industry,  2016–2023 (Usd Billion)
           9.5.2 South Africa
                    9.5.2.1 Low Levels of Penetration of Photonics Products in the Country Provide Opportunities for Market Growth
                               Table 75 South Africa: Photonics Market Size, By Application, 2016–2023 (Usd Billion)
                               Table 76 South Africa: Photonics Market Size, By End-Use Industry,  2016–2023 (Usd Billion)
           9.5.3 Rest of the Middle East & Africa
                    Table 77 Rest of the Middle East & Africa: Photonics Market Size, By Application, 2016–2023 (Usd Billion)
                    Table 78 Rest of the Middle East & Africa: Photonics Market Size, By End-Use Industry, 2016–2023 (Usd Billion)
    9.6 South America
           Table 79 South America: Photonics Market Size, By Country, 2016–2023 (Usd Billion)
           Table 80 South America: Photonics Market Size, By Product Type,  2016–2023 (Usd Billion)
           Table 81 South America: Photonics Market Size, By Application,  2016–2023 (Usd Billion)
           Table 82 South America: Photonics Market Size, By End-Use Industry,  2016–2023 (Usd Billion)
           9.6.1 Brazil
                    9.6.1.1 Government Initiatives are Expected to Increase the Demand for Photonics in Brazil
                               Table 83 Brazil: Photonics Market Size, By Application, 2016–2023 (Usd Billion)
                               Table 84 Brazil: Photonics Market Size, By End-Use Industry, 2016–2023 (Usd Billion)
           9.6.2 Argentina
                    9.6.2.1 Increasing Adoption of Photonics in Various Applications and Government Initiatives are Supporting the Market in Argentina
                               Table 85 Argentina: Photonics Market Size, By Application, 2016–2023 (Usd Billion)
                               Table 86 Argentina: Photonics Market Size, By End-Use Industry,  2016–2023 (Usd Billion)
           9.6.3 Rest of South America
                               Table 87 Rest of South America: Photonics Market Size, By Application,  2016–2023 (Usd Billion)
                               Table 88 Rest of South America: Photonics Market Size, By End-Use Industry,  2016–2023 (Usd Billion)

10 Competitive Landscape (Page No. - 117)
     10.1 Overview
Figure 21 Companies Adopted New Product Launch as the Key Growth Strategy Between 2016 and 2019
     10.2 Competitive Scenario
             10.2.1 Expansion
Table 89 Expansion, 2016–2019
             10.2.2 New Product Launch
Table 90 New Product Launch, 2016–2019
             10.2.3 Merger & Acquisition
Table 91 Merger & Acquisition, 2016–2019
             10.2.4 Agreement/Partnership
Table 92 Agreement/Partnership, 2016–2019

11 Company Profiles (Page No. - 123)
(Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View)* 
     11.1 Signify
             Figure 22 Signify: Company Snapshot
             Figure 23 Signify: SWOT Analysis
     11.2 Schott
             Figure 24 Schott: Company Snapshot
             Figure 25 Schott: SWOT Analysis
     11.3 Shin-Etsu Chemical Company
             Figure 26 Shin-Etsu Chemical Company: Company Snapshot
             Figure 27 Shin-Etsu Chemical Company: SWOT Analysis
     11.4 Nikon Corporation
             Figure 28 Nikon Corporation: Company Snapshot
             Figure 29 Nikon Corporation: SWOT Analysis
     11.5 HOYA
             Figure 30 HOYA: Company Snapshot
             Figure 31 HOYA: SWOT Analysis
     11.6 Corning
             Figure 32 Corning: Company Snapshot
             Figure 33 Corning: SWOT Analysis
     11.7 American Elements
     11.8 OHARA
             Figure 34 OHARA: Company Snapshot
     11.9 Asahi Glass
             Figure 35 Asahi Glass: Company Snapshot
     11.10 II-VI
             Figure 36 II-VI: Company Snapshot
     *Details on Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies. 
     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

The study involved four major activities in estimating the current market size for photonics. Exhaustive secondary research was done to collect information on the consumption of photonics. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the overall market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources such as Hoovers and  Bloomberg BusinessWeek, have been referred to, so as to identify and collect information for this study. These secondary sources included annual reports, press releases & investor presentations of companies; white papers; certified publications; articles by recognized authors; magazines; oil & gas journals; regulatory bodies; trade directories; and databases.

Primary Research

The photonics market comprises several stakeholders, such as raw material suppliers, processors, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of this market is characterized by the growth in the need for technologically advanced products. The supply side is characterized by advancements in technology for complex specifications. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.

Following is the breakdown of primary respondents

Photonics Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the size of the global photonics market and to estimate the sizes of various other dependent submarkets. The research methodology used to estimate the market size includes the following:

  • The key players in the industry were identified through extensive secondary research.
  • The supply chain of the industry and market size, in terms of value, were determined through primary and secondary research.
  • Percentage shares were determined using secondary sources and verified through primary sources.
  • All possible parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
  • The research includes the study of reports, reviews, and newsletters of key industry players along with extensive interviews with key officials, such as directors and marketing executives.

Data Triangulation

After arriving at the total market size through the estimation process explained above, the overall market was split into several segments and sub-segments. The data triangulation was used, wherever applicable, to complete the overall market size estimation process and arrive at the exact statistics for all segments and subsegments. The data was triangulated by studying various factors and trends from both the demand and supply sides. In addition, the market size was validated by using both top-down and bottom-up approaches. Then, it was verified through primary interviews. Hence, for every data segment, there are three sources-top-down approach, bottom-up approach, and expert interviews. The data was assumed to be correct when the values arrived at from the three sources matched.

Report Objectives

  • To define, describe, and forecast the size of the photonics market, in terms of value and volume
  • To provide detailed information regarding the significant factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
  • To analyze and forecast the market size on the basis of types, and application
  • To forecast the market size of different segments with respect to five main regions, namely, North America, Europe & Russia, Asia Pacific (APAC), South America, and the Middle East & Africa
  • To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the market
  • To analyze the competitive developments, such as expansions,mergers & acquisitions, agreements, and new product development activities in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:

Geographical Analysis:

  • A country-level analysis of the global photonics market

Company Information:

  • Detailed analysis and profiles of additional market players

Product Analysis

  • Product Matrix, which gives a detailed comparison of the product portfolio of each company
Report Code
CH 4590
Published ON
Oct, 2019
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