Solan Headlines

Key Market Leader – Photonics Market

 Breaking News
  • No posts were found

Key Market Leader – Photonics Market

May 09
18:40 2022
Key Market Leader - Photonics Market
Browse 142 market data Tables and 30 Figures spread through 182 Pages and in-depth TOC on “Photonics Market”
Photonics Market by Type (LED, Lasers, Detectors, Sensors and Imaging Devices, Optical Communication Systems & Networking Components, Consumer Electronics & Devices), Application End-Use Industry, and Region

The Photonics market is estimated to be USD 593.7 billion in 2020 and is projected to reach USD 837.8 billion by 2025, at a CAGR of 7.1% between 2020 to 2025. Growing application of photonics enabled products in the healthcare sector, information and communication sector, and industrial manufacturing sector is the major drivers of the global Photonics market during the forecast period.

Photonics is the science and technology of generating, controlling, and detecting photons through refraction, reflection, transmission, dispersion, polarization, detection, absorption, and transformation of light. Photonics are used in a wide range of applications such as displays, information and communication technology, photovoltaic, medical technology, and life sciences, lightning, production technology.

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

APAC is estimated to be the largest market for Photonics and is also projected to register the fastest CAGR during the forecast period. China is expected to account for the largest share of the market in APAC by 2025. The growing photonics enabled applications, industrial activities, investment in end use industry of Photonics, and labor costs in these countries are the main drivers for the Photonics market.

Expansions, investments, and agreements were the key strategies adopted by the major players to achieve growth in the global Photonics market between 2018 and 2020. The major players in the Photonics market are Signify, Schott, Shin-Etsu Chemical Company, Nikon Corporation, and Hoya.

The impact of the COVID-19 pandemic on the Photonics market is negative in 2020 due to supply chain disruption, containment restrictions, and the fall in demand for Photonics enabled products to some extent. Whereas the demand for Photonics enabled products is expected to increase as the imposed restriction are removed.

The companies have initiated the following developments:

  • In March 2020, signify has completed the acquisition of Cooper Lighting Solutions from Eaton. The transaction will strengthen Signify’s market position and better positions the company to capture growth in the North American lighting market.
  • In April 2019, signify acquired WiZ Connected, the developers of the WiZ Wi-Fi-based connected lighting ecosystem. The addition of WiZ enables Signify to extend its leadership by stepping into the Wi-Fi-based smart lighting market.
  • In March 2019, Schott launched Solidur LEDs for dental curing devices.

Request for Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=88194993

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/photonics-market-88194993.html

Related Articles