According to a market report by Lucintel, the future of the photonics market looks promising with opportunities in the media, broadcasting & telecommunication, and consumer & business automation industries. The photonics market is expected to grow with a CAGR of 8% from 2019 to 2024. The major growth drivers for this market are increasing adoption of photonic products in various applications such as displays, information and communication technology, and lighting.
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In this market, LED & lasers, detectors, sensors, and imaging devices are the major product type of photonics market.
Within the photonics market, media, broadcasting & telecommunication, and consumer & business automation are the major end use industries.
Asia Pacific will remain the largest market over the forecast period due increasing awareness among consumers and rising adoption of electronic devices in various industries.
Signify, Schott, Nikon, Shin-Etsu Chemical company, HOYA, Corning, Asahi Glass, II-VI Inc., OHARA, and American Elements are among the major manufacturers of photonics.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the photonics market by product type, application, end use industry, and region. Lucintel has prepared a comprehensive research report entitled "Photonics Market 2019-2024: Trends, Forecast, and Opportunity Analysis". This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the photonics market by product type, application, end use industry, and region as follows:
By Product Type [$M shipment analysis for 2013 – 2024]:
LED & Lasers
Detectors
Sensors
Imaging Devices
By Application [$M shipment analysis for 2013 – 2024]:
Information & Communication Technology
Production Technology
By End Use Industry [$M shipment analysis for 2013 – 2024]
Media
Broadcasting & Telecommunication
Consumer & Business Automation
By Region [$M shipment analysis for 2013 – 2024]:
North America
United States
Canada
Mexico
Europe
Asia Pacific
Rest of the World
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/global-photonics-market.aspx or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.