Photonics Market Share, Size, Future Demand, Top Leading player, Emerging Trends
Posted by Devanshu Shrivastava on February 3rd, 2021
One of the most-important points in modern history would have to be when humans learned how to create light! Thus, the science of photonics was born, which, with time, has also come to include the detection and manipulation of photons (particles of light) via signal processing, transmission, modulation, emission, amplification, sensing, and switching.
In essence, photonics includes everything from a simple domestic-use light bulb and TV displays to the complex optical communication and DNA sequencing. With such a vast concept, which leads to an equally wide application area, the photonics market has been forecast by P&S Intelligence to display a 6.9% CAGR between 2020 and 2030 (forecast period), to grow from 6.8 billion in 2019 to ,214.5 billion by 2030.
Presently, the application of photonics in communication is increasing rapidly, especially with the proliferation of data centers, itself on account of the growing usage of digital technologies and applications. Data centers need to store, process, and transfer millions of bytes of information each second, which is why they are utilizing light as the transmission medium over conventional cables and radio technologies.
To support the rising usage of data-intensive applications, data centers are shifting from 10G transceivers to 40G and 100G variants, which have photonics-based integrated circuits (IC). These silicon-based photonics transceivers allow for an up to 100 Gigabits per second (Gbps) data transfer speed. For instance, the 400G silicon photonics transceivers launched by Intel Corporation in 2019 use semiconductor lasers to transmit data over long distances at high speeds, with ethernet, OmniPath, and InfiniBand protocols.
Telecommunication, industrial, medical, defense and security, consumer electronics, and others are the categories of the photonics market, on the basis of end user. Among these, the largest share during 2014–2019 (historical period) was held by the industrial category, on account of the widespread usage of lasers in the automotive, oil and gas, industrial manufacturing, and many other sectors for drilling, cutting, marking, and welding purposes. In the forecast period, the highest CAGR will be witnessed in the consumer electronics category, with the rising demand for tablets, smartphones, televisions, and computers.
This market research report provides a comprehensive overview of the market
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About the AuthorDevanshu Shrivastava
Joined: January 31st, 2020
Articles Posted: 105
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