Photonics Market to Reach USD 1642.58 Billion by 2032, Growing at 6.83% CAGR | SNS Insider

Increased demand in the healthcare, information and communication and industrial manufacturing sectors, drive the growth of the global photonics market.

AUSTIN, TX, UNITED STATES, February 11, 2025 /EINPresswire.com/ -- Market Size & Industry Insights

As Per the SNS Insider,“The Photonics Market Size¹ was valued at USD 910.70 billion in 2023 and is expected to reach USD 1642.58 billion by 2032, growing at a CAGR of 6.83% from 2024 to 2032.”

The Photonics Market is growing with demand for advanced light-based technologies in communication, healthcare, defense, and manufacturing, driven by innovations in lasers and optics.

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SWOT Analysis of Key Players as follows:
- Innolume
- Neophotnics Corporation
- IPG Photonics Corporation
- II - VI Incorporated
- Hamamatsu Photonics K.K
- Molex
- TRUMPF
- Sicoya GMBH
- One Silicone chip photonics Inc
- RANOVUS

Key Market Segmentation

By Type, LED Dominating and Lasers, Detectors Fastest Growing

The LED segment is dominating in Photonics market in 2023 leads the photonics industry. Lasers serve as power sources for industrial, medical, and communication uses, while detectors convert light to electrical signals.

The Lasers, Detectors is fastest-growing segment from 2024 to 2032 in Photonics Market driven by advancements in autonomous vehicles, environmental monitoring, and medical diagnostics, where they enhance performance and accuracy.

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By Application, Information and Communication Technology (ICT) Dominating and Lighting Displays IS Fastest Growing

In 2023, Information and Communication Technology (ICT) led the photonics market, holding 35% of the share. Photonics is vital for fast data transmission, laser-based component fabrication in electronics, and sensor-enabled real-time network monitoring. Companies like Lumentum Holdings Inc. and Teledyne FLIR LLC drive innovations in lasers and detectors for ICT applications.

The Lighting Displays segment is expected to be the fastest growing in the photonics market during the forecast period from 2024 to 2032. This growth is driven by the increasing demand for advanced lighting solutions in various applications, including consumer electronics, automotive, and advertising, where energy-efficient and high-performance displays are crucial.

By End Use Industry, Medical Dominating and Safety and Defense Fastest Growing

The Medical segment leads the photonics market due to advancements in biophotonics, which have revolutionized diagnostics, imaging, and therapy. Technologies like optical coherence tomography (OCT), laser-based surgical instruments, and fluorescence imaging enhance precision in procedures and enable early disease detection. Photonics is crucial for non-invasive treatments, such as laser therapies for skin and eye surgeries, improving outcomes and recovery times.

The Safety and Defense segment is the fastest growing, driven by the demand for advanced security and defense technologies. Lasers are used in range finding and precision-guided weapons, while sensors and optical tech enhance surveillance, night vision, and secure communication systems.

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Asia Pacific and North America: Dominant Regions in the Photonics Market

-In 2023, the Asia Pacific region dominated the photonics market with a 35% share, owing to the advance in technology coupled with the interest in research and development. At the forefront are countries such as China, whose strong manufacturing and exporting capabilities place organizations such as Everlight Electronics, Han's Laser Technology, Huawei, and BGI Genomics as the leaders and innovators in the photonics space.

-North America is the fastest Growing over the forecast period 2024-2032, owing to the advance in technology coupled with the interest in research and development. At the forefront are countries such as China, whose strong manufacturing and exporting capabilities place organizations such as Everlight Electronics, Han's Laser Technology, Huawei, and BGI Genomics as the leaders and innovators in the photonics space.

Table of Content - Major Points Analysis

Chapter 1. Introduction

Chapter 2. Executive Summary

Chapter 3. Research Methodology

Chapter 4. Market Dynamics Impact Analysis

Chapter 5. Statistical Insights and Trends Reporting

Chapter 6. Competitive Landscape

Chapter 7. Photonics Market Segmentation, by Type

Chapter 8. Photonics Market Segmentation, by Application

Chapter 9. Photonics Market Segmentation, by End User

Chapter 10. Regional Analysis

Chapter 11. Company Profiles

Chapter 12. Use Cases and Best Practices

Chapter 13. Conclusion

Continued…

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Akash Anand
SNS Insider
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¹ https://www.snsinsider.com/reports/photonics-market-4193