NEW YORK, Nov. 22, 2023 /PRNewswire/ — The photonics market size is estimated to grow by USD 287.13 billion from 2022 to 2027, at a CAGR of 6.11% according to Technavio. The emergence of optical data centers is a key trend shaping market growth. The growth of cloud-based applications and big data analytics has transformed data center networks, necessitating large and efficient interconnection networks to handle thousands of servers. Optical wavelength division multiplexing (WDM), also known as WDM, offers terabits of data transmission capacity, while optical switching enables fast and energy-efficient switching in intra-data center networks. Photonics plays a crucial role in ultra-high-speed optical switch applications, driving the global photonics market size during the forecast period.
Technavio has announced its latest market research report titled Global Photonics Market 2023-2027
Photonics Market Insights –
Vendors: 15+, Including AIO Core Co. Ltd., ams OSRAM AG, Ayar Labs Inc., Carl Zeiss AG, Corning Inc., Hamamatsu Photonics KK, II VI Inc., Infinera Corp., Innolume GmbH, Intel Corp., International Business Machines Corp., IPG Photonics Corp., Koch Industries Inc., NKT Photonics AS, Nokia Corp., OSCPS Motion Sensing Inc, Polatis Inc., RANVOUS Inc., Sicoya GmbH, and TRUMPF SE Co. KG, among others
Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
Segments: Application (Consumer electronics, Displays, Safety and defense technology, Medical and healthcare, and Others), Product (WDM filters, Optical modulators, Optical interconnects, Photo detectors, and Others), and Geography (North America, Europe, APAC, Middle East and Africa, and South America)
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Photonics market – Customer Landscape
To help companies evaluate and develop growth strategies, the report outlines –
Key purchase criteria
Adoption rates
Adoption lifecycle
Drivers of price sensitivity
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Photonics Market – Market Dynamics
Major Drivers
The reduction in transmission costs and scalability beyond 400G is the major factor notably driving market growth. The increasing adoption of photonics in communication network carriers is driven by its ability to transmit data across multiple end-user establishments on a single wavelength, meeting specific requirements efficiently. This leads to cost reduction as separate wavelengths for different clients are not needed, ensuring optimal bandwidth utilization. Photonics also enables high-capacity services at speeds of 100G and above, further enhancing its appeal. As a result of these advantages, the global photonics market size is anticipated to grow during the forecast period.
Major challenges
The availability of substitute technologies is one of the key challenges impeding market growth. The availability of substitutes like vertical-cavity surface-emitting lasers (VCSEL) is one of the main reasons hindering the widespread use of photonics. VCSEL is a potential alternative used in fiber optic communications, and its adoption is expected to negatively impact the growth of the photonics market. VCSEL has the capability to enhance communication networks’ efficiency and data transfer rates, and it offers advantages in checking for processing issues and material quality during production. These factors are likely to hinder the global photonics market size during the forecast period.
Drivers, & Challenges have an impact on market dynamics and can impact businesses. Find some insights from a sample report!
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What are the key data covered in this Photonics Market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the photonics market between 2023 and 2027
Precise estimation of the Photonics Market size and its contribution to the market in focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behaviour
Growth of the photonics market across North America, Europe, APAC, Middle East and Africa, and South America
A thorough analysis of the market’s competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of photonics market vendors
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Table of contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
