KEY FINDINGS The global photonics market is expected to register a CAGR of 7. 74% during the forecasting years of 2021 to 2028. The market growth is primarily facilitated by the augmenting applications of silicon-based photonics and the rising demand for eco-friendly as well as high-performance solutions.
New York, May 19, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "GLOBAL PHOTONICS MARKET FORECAST 2021-2028" - https://www.reportlinker.com/p06074743/?utm_source=GNW
Photonics is characterized as the avenue of science dealing with the transmission, detection, switching, and processing of light.The field includes analyzing diverse forms of light across the spectrum, ranging from ultraviolet light to visible band.
Moreover, light-based applications possess a distinguished advantage over electrical applications in terms of minimal interference and propagation speed. Photonics also includes emerging forms of quantum optics, polaritonics, and optomechanics.
Photonics-based devices deliver increased energy efficiency compared to other technologies across diverse verticals.This aspect has been identified as a significant market driver.
In industrial applications, photonics-based processes ideally consume 30% less energy than conventional machines, in addition to offering material wastage savings up to 94% and faster operating times. Similarly, multiple other operations, such as data transfer, printing, and imaging, observe relatively more benefits associated with size, function, and performance and ensure reduced energy consumption.
The global photonics market growth assessment includes the study of the Asia-Pacific, Europe, North America, and the Rest of World.The Asia-Pacific is set to be the fastest-growing and dominating region during the forecasted years.
The region’s market growth is accredited to influential factors like the presence of well-established and leading companies, the increased demand for construction, and the rising affordability of silicon photonics technology.
Numerous players in the market continue to impact the overall competition, with firms moving aggressively towards gaining a significant market share.The increased focus on research and development constitutes a major factor, as well.
Moreover, the rivalry is projected to intensify owing to several leading players’ entrance from neighboring markets. Key companies operating in the market are Finisar Corporation (II-VI Incorporated), Hamamatsu Photonics KK, Molex LLC, etc.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation cater to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
1. 3S PHOTONICS
2. CARL ZEISS AG
3. FINISAR CORPORATION (II-VI INCORPORATED)
4. HAMAMATSU PHOTONICS KK
5. HUBER+SUHNER POLATIS PHOTONICS INC
6. INFINERA CORPORATION
7. INNOLUME GMBH
8. INTEL CORPORATION
9. INTERNATIONAL BUSINESS MACHINES CORPORATION (IBM)
10. IPG PHOTONICS CORPORATION
11. KONINKLIJKE PHILIPS NV
12. MOLEX LLC
13. NEC CORPORATION
14. OSRAM LICHT AG
15. SCHOTT AG
Read the full report: https://www.reportlinker.com/p06074743/?utm_source=GNW
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