GLOBAL PHOTONICS MARKET 2021-2028
Triton Market Research’s report suggests that the global photonics market is estimated to exhibit a CAGR of 8.15% during the forecasted period of 2021-2028.
One of the major factors motivating the growth of the studied market is the growing investments in the photonics industry. Several companies and institutions have increased their funding for the R&D of silicon photonics technology. Moreover, major companies like Intel and IBM, along with government organizations, are actively investing in silicon photonics devices.
Additionally, the rising penetration of smartphones and growing internet connectivity is expected to offer lucrative growth opportunities to the photonics market. However, cost restraints, coupled with strict government and environmental rules, challenge the global market’s future growth.
The global photonics market covers North America, Asia-Pacific, Latin America, Europe, Middle East and Africa regions.
Globally, the Asia-Pacific is likely to witness the fastest growth rate in the photonics market. This growth is owing to the high demand for construction, mainly in China, and the rising affordability of photonics technology across the region. Additionally, Japan has emerged as a promising country in photonics technology development due to the presence of prominent companies. Moreover, the country has been among the world leaders in the development of photonics technology.
Furthermore, several research institutes are initiating advanced training programs in the region’s nations to expand the adoption of photonics technology. Hence, such developments are likely to advance the growth of the photonics market across the APAC region.
The distinguished companies in the photonics market are IPG Photonics Corporation, International Business Machines Corporation (IBM), Infinera Corporation, Intel Corporation, Hamamatsu Photonics KK, Huber+Suhner Polatis Photonics Inc, Innolume GmbH, Molex LLC, NEC Corporation, Schott AG, 3S Photonics, Carl Zeiss AG, Koninklijke Philips NV, Osram Licht AG, and Finisar Corporation (II-VI Incorporated).
Intel Corporation is an integrated device manufacturer involved in designing and developing digital technology products and components. Its product line includes microprocessors, chipsets, embedded processors, digital imaging, silicon photonics, motherboards, and wireless connectivity products, among others. The company offers its products and solutions to OEMs, industrial, and communication equipment manufacturers. Besides, its products have applications in servers, tablets, and desktops. Intel has operations across various countries, with headquarters located in California, the United States.
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