Photonics Market - Growth, Trends, and Forecast (2019 - 2024)

The Photonics Market is segmented by Application (Surveying and Detection, Production Technology, Data Communication, Image Capture and Display, Medical Technology, Lighting, and Other Applications) and Geography.

Market Snapshot

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Study Period:

2018-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

7.89%

Key Players:

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Market Overview

The photonics market was valued at USD 636.63 billion in 2018, and is expected to reach a value of USD 1,001.3 billion by 2024, at a CAGR of 7.89% over the forecast period (2019 - 2024). The trends in photonics, such as lidar or additive manufacturing are rising. Lidar technology has been used for decades to analyze the distribution of gases and pollutants in the atmosphere. It has become a crucial technology for autonomous driving in recent years.

  • Silicon-based photonics application is the key driver for the photonics market. Hybrid silicon lasers (silicon and group III-V semiconductor) are used in telecommunications and data center applications, which gives the advantage of light-emitting properties of III-V semiconductor materials.
  • Technological advancements in light-based technologies have been driving the new wave of innovation by providing sustainable solutions to global challenges, which has been identified as a major driving factor for the global market.
  • However, due to the high cost of applications of photonics products, the market is expected to face challenges in the future.

Scope of the Report

Photonics is an area of study that involves the use of radiant energy (such as light), whose fundamental element is the photon and waves that can be used to cure diseases, explore the universe, and even solve crimes. The advancements in the photonics market have been stimulated owing to developments in the field of fiber optics and introduction of electricity, which have given a boost to the conversion. The evolvement of photonics has also resulted in a steady increase in the performance of both OPV and OLED technologies.

By Application
Surveying and Detection
Production Technology
Data Communication
Image Capture and Display
Medical Technology
Lighting
Other Applications (Traffic, Research)
Geography
North America
Europe
Asia-Pacific
Rest of the World

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Key Market Trends

Application of Silicon Photonics to Gain Market Share in Data Communication

  • Silicon photonics is an evolving branch of photonics offering a clear advantage over electric conductors used in semiconductors, which are used in high-speed transmission systems.
  • In data center applications, fiber-based optical interconnects can be used to provide point-to-point links, enabling high-bandwidth, inter-rack, data communications. However, due to the use of bulk optical components, high energy and cost are key disadvantages. 
  • The integration of silicon photonic devices can be used for high-bandwidth, multi-channel, wavelength division multiplexed with effective optical communication.
  • The realization of an on-chip channelized spectrum monitor and a network-node-on-a-chip is a key example, where these optical integrated circuits are used to replace bulk optical components with their functional equivalents on monolithic silicon.
  • 100G silicon photonic transceiver is gaining the market share, due to its high data speed data communication with future integration in 5G technology.
  • Intel Corporation's portfolio of 100G silicon photonics transceivers is optimized to meet the bandwidth requirements of next-generation communications infrastructure, while withstanding harsh environmental conditions. 
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North America Occupies the Major Market Share

  • North America is gaining the photonics market due to the need for high-speed data transfer and storage systems and the shift in the market toward energy-efficient equipment.
  • Photonics is leading to the development of new products in different domains. Hamamatsu Photonics KK manufactures some of the products, like new stream camera FESCA 100 in the stream cameras.
  • The US market is growing, as it has many photonics based companies, along with the growth of parent markets, such as lighting, safety and defense applications, and healthcare and production technology. 
  • To enhance its new-generation in IaaS and PaaS Cloud Service K5, Fujitsu announced high-availability data centers in North America, which will stimulate the development of the photonics market in the region.
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Competitive Landscape

The photonics market is highly fragmented and the major players have used various strategies, such as expansions, new product launches, partnerships, agreements, joint ventures, and acquisitions, among others, to increase their footprints in this market. Key players in the market are Hamamatsu Photonics KK, Intel Corporation, Alcatel-Lucent SA, etc. Recent developments in the market are -

  • Mar 2019 - Luna Innovations Incorporated announced that it has acquired General Photonics Corporation, a Chino, California-based leading provider of innovative components, modules, and test equipment that focus on the generation, measurement, and control of polarized light critical in fiber-optic-based applications. It brings a highly complementary product portfolio to the capabilities of Luna’s communications test products.
  • Dec 2018 - Lumentum, a manufacturer of photonic products for optical networking and commercial laser customers, completed its acquisition of Oclaro. The combined scale, resources, talent, and breadth of technologies will help them to accelerate the innovation and development of products to their customers and network operators around the world.

Major Players

  1. Hamamatsu Photonics KK
  2. Intel Corporation
  3. Alcatel-Lucent SA
  4. Infinera Corporation
  5. NEC Corporation

* Complete list of players covered available in the table of contents below

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Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 MARKET OVERVIEW

    2. 4.2 Introduction to Market Drivers and Restraints

    3. 4.3 Market Drivers

      1. 4.3.1 Emergence of Silicon-based Photonics Applications

      2. 4.3.2 Increasing Focus on High Performance and Eco- friendly Solutions

    4. 4.4 Market Restraints

      1. 4.4.1 High Cost of Photonics Enabled Devices Due to High Integration

    5. 4.5 Value Chain Analysis

    6. 4.6 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.6.1 Threat of New Entrants

      2. 4.6.2 Bargaining Power of Buyers/Consumers

      3. 4.6.3 Bargaining Power of Suppliers

      4. 4.6.4 Threat of Substitute Products

      5. 4.6.5 Intensity of Competitive Rivalry

    7. 4.7 Technology Snapshot

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Application

      1. 5.1.1 Surveying and Detection

      2. 5.1.2 Production Technology

      3. 5.1.3 Data Communication

      4. 5.1.4 Image Capture and Display

      5. 5.1.5 Medical Technology

      6. 5.1.6 Lighting

      7. 5.1.7 Other Applications (Traffic, Research)

    2. 5.2 Geography

      1. 5.2.1 North America

      2. 5.2.2 Europe

      3. 5.2.3 Asia-Pacific

      4. 5.2.4 Rest of the World

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Hamamatsu Photonics KK

      2. 6.1.2 Intel Corporation

      3. 6.1.3 Polatis Photonics Inc.

      4. 6.1.4 Alcatel-Lucent SA

      5. 6.1.5 Molex Inc. (Koch Industries)

      6. 6.1.6 Infinera Corporation

      7. 6.1.7 NEC Corporation

      8. 6.1.8 Innolume GmbH

      9. 6.1.9 Finisar Corporation

      10. 6.1.10 IPG Photonics

      11. 6.1.11 Osram Licht AG

      12. 6.1.12 Philips NV

      13. 6.1.13 Photonics SAS (Keopsys)

      14. 6.1.14 Schott AG

      15. 6.1.15 Carl Zeiss AG

    2. *List Not Exhaustive
  7. 7. INVESTMENT ANALYSIS

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

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