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Global Photonics Market Analysis, Share, Trends, Forecast: By Type: LED, Lasers, Detectors, and Sensors and Imaging Devices, Optical Communication Systems and Components, Consumer Electronics and Devices, Others; By Application: Surveying and Detection, Others; By End Use; Regional Analysis; Competitive Landscape; 2024-2032
Global Photonics Market Outlook
The global photonics market size reached approximately USD 741.65 billion in 2023. The market is projected to grow at a CAGR of 7.5% between 2024 and 2032, reaching a value of around USD 1421.38 billion by 2032.
Key Takeaways
- Photonics has the capability to revolutionise various sectors by enhancing efficiency, precision, and capabilities of manufacturing processes and operations.
- Photonics and photonics-powered solutions support data communication systems by enabling data transmission over optical fibres, which carry information encoded in light pulses.
- In surveying and detection, photonics is used primarily for its precision, non-invasiveness, and ability to cover large distances quickly.
Photonics refers to the science of light as it controls, detects, and produces photons and light waves or light particles. It encompasses the study of the application of light across various spectrums, from infrared to visible and ultraviolet regions. Photonics also involves the use of light (photons) to perform functions that traditional electronics (electrons) do, including communications, information processing, lighting, and sensing, among others.
The rising demand for energy-efficient products and the increasing use of photonic products in different applications are the major drivers propelling the photonics market growth. Another major driving force for the market is its rising application in silicone-based photonics. For telecommunications and data centre applications, hybrid silicon lasers (silicon and group III-V semiconductor) are used, which benefit from the luminous properties of III-V semiconductor materials. The technological progress of light-based technologies has driven a new wave of innovation by offering sustainable solutions to various challenges.
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Key Trends and Developments
Photonic integrated circuits (PICs) for next-gen applications; trend of sustainability and green photonics; the pivotal role of photonics in quantum technologies; and technological advancements in laser technology are the major trends in the photonics market
| Date | Company/ Organisation | Event |
| Sep 2023 | Vodafone | Collaboration with iPronics and Salience Labs to investigate possibilities of new silicon photonic chips. |
| Nov 2023 | Photonic Inc. | Strategic partnership with Microsoft Corp. to create roadmap for quantum networking. |
| Dec 2023 | ORCA Computing | Announced that it has been selected to deploy two PT-1 quantum photonic systems at Poznań Supercomputing and Networking Center (PSNC) in Poland. |
| Feb 2024 | IOWN Global Forum | Unveils roadmap for 2030 for developing photonics-based technology and revolutionising areas such as photonics R&D, at MWC Barcelona. |
| Trends | Impact |
| Photonic Integrated Circuits | Photonic integrated circuits (PICs) are becoming increasingly important due to their ability to integrate multiple photonic functions onto a single chip that can support next-gen applications. |
| Sustainability and Green Photonics | There is a growing emphasis on sustainability within the photonics sector, focusing on energy-efficient lighting, renewable energy technologies such as photovoltaics, and environmentally friendly manufacturing processes. |
| Photonics in Quantum Technologies | Quantum technologies such as quantum computing, quantum communication, and quantum sensing promise revolutionary changes in computing power, secure communication, and measurement precision. |
| Bridging Gap between Technology and Research | Investments in research and development activities by key market players and organisations are increasing to enable the development of scalable and reliable photonics-powered technologies. |
Photonics Market Trends
The emphasis on sustainability within the photonics sector is a reflection of the broader global movement towards environmental responsibility and the reduction of carbon footprints across various end-use sectors. Photonics technologies enable the development of intelligent lighting systems that adjust based on natural light availability, occupancy, and other factors, further reducing energy consumption. Photonics is critical in the development and optimisation of photovoltaic cells for solar energy, and advances in materials science and photonic designs have led to higher efficiency solar panels, capable of converting more sunlight into electricity.
In December 2023, ORCA Computing, a London-based startup, made a significant announcement regarding its expansion into quantum computing infrastructure. The company revealed that it has been chosen to install two of its PT-1 quantum photonic systems at the Poznań Supercomputing and Networking Center (PSNC) in Poland. Quantum photonic systems, like the PT-1 developed by ORCA Computing, use light (photons) to perform quantum computations and this approach is distinct from other quantum computing technologies that might rely on superconducting circuits or trapped ions.
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Market Segmentation
“Photonics Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
| Market Breakup | Categories |
| Type | LED, Laser, Detectors, and Sensors and Imaging Devices, Optical Communication Systems and Components, Consumer Electronics and Devices, Others |
| Application | Surveying and Detection, Production Technology, Data Communication, Image Capture and Display, Medical Technology, Lighting, Others |
| End Use | Building and Construction, Media, Broadcasting and Telecommunication, Consumer and Business Automation, Medical, Security and Defence, Industrial, Others |
| Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
LEDs account for a major photonics market share owing to their growing adoption across the lighting sector
LEDs hold the highest share in the market due to their widespread application in lighting, displays, automotive, and consumer electronics. Their energy efficiency, long lifespan, and decreasing cost have driven their adoption across various sectors, making them a dominant technology in general lighting, automotive lighting, and backlighting for TVs, smartphones, and other devices.
The optical communication systems and components segment is also expected to witness a robust growth in the forecast period due to the critical role of optical communication in modern telecommunications infrastructure. The increasing demand for high-speed internet and data services has propelled the growth of optical communication technologies, including fibre optic cables, transceivers, amplifiers, and switches. These components are essential as the backbone of the internet, data centres, and cloud computing, supporting the massive data flow across global networks.
Data communication applications are expected to maintain their dominance in the photonics market
There is a surge in usage of photonics in data communication to enable high-speed, high-bandwidth communication systems, supporting the photonics market growth. Optical fibre technology, which relies on photonics, is the backbone of the Internet and global telecommunications, supporting the massive increase in data traffic.
Medical technology is another major application that holds a significant share of the photonics market. Photonics plays a crucial role in various medical and healthcare technologies, including diagnostic imaging systems (such as MRI, CT scans, and X-rays), laser surgeries, phototherapy, and endoscopy. The increasing adoption of advanced medical technologies for diagnosis, treatment, and patient care, combined with an ageing global population and rising healthcare standards, drives the demand for photonics in this segment.
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Competitive Landscape
The market players are increasing their research and development activities and are increasingly focusing on cross-industry collaborations to develop strategic partnerships and gain a competitive edge
| Company | Founded | Headquarters | Operations/ Product Range |
| Schott AG | 1884 | Mainz, Germany | Development and manufacturing of speciality glass and glass ceramics. |
| Nikon Corporation | 1917 | Tokyo, Japan | Optics and imaging products, including cameras, camera lenses, binoculars, and microscopes. |
| Hoya Corporation | 1941 | Tokyo, Japan | Eyeglass lenses, medical endoscopes, intraocular lenses for cataract surgery, and products for the semiconductor sector. |
| Corning Incorporated | 1851 | New York, United States | Speciality glass, ceramics, and related materials. |
Other major players in the photonics market include Intel Corporation, Ohara Corporation, and Hamamatsu Photonics K.K., among others. These companies operate in various segments, including optical components, lasers, imaging systems, photovoltaic cells, and fibre optics, among others.
Photonics Market Analysis by Region
The demand for photonics in North America is strong and growing, driven by several key factors and applications across various end-use sectors. The internet and telecommunications heavily rely on optical fibre technologies, which are a cornerstone of photonics. The demand for higher bandwidth and faster data transmission rates in North America has led to increased investments in upgrading and expanding fibre optic networks. The ongoing rollout of 5G technology and the expansion of data centre capacities further fuel this demand. Moreover, the defence and security sector in North America, particularly in the United States, invests heavily in photonics for applications ranging from night vision systems and laser-based communication to surveillance and guidance systems.
The Europe photonics market is robust, driven by a strong emphasis on innovation and sustainable development. The healthcare sector in Europe is a major driver of photonics demand, with applications ranging from medical diagnostics and imaging to therapeutic devices and minimally invasive surgeries. Europe's focus on advanced healthcare solutions and personalised medicine has spurred the development and adoption of photonic technologies in biophotonics, including lab-on-a-chip devices and optical biosensors.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Application |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Photonics Market Analysis
8.1 Key Industry Highlights
8.2 Global Photonics Historical Market (2018-2023)
8.3 Global Photonics Market Forecast (2024-2032)
8.4 Global Photonics Market by Type
8.4.1 LED
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Laser, Detectors, and Sensors and Imaging Devices
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Optical Communication Systems and Components
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Consumer Electronics and Devices
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Others
8.5 Global Photonics Market by Application
8.5.1 Surveying and Detection
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Production Technology
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Data Communication
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Image Capture and Display
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Medical Technology
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.5.6 Lighting
8.5.6.1 Historical Trend (2018-2023)
8.5.6.2 Forecast Trend (2024-2032)
8.5.7 Others
8.6 Global Photonics Market by End Use
8.6.1 Building and Construction
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Media, Broadcasting and Telecommunication
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Consumer and Business Automation
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Medical
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Security and Defense
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
8.6.6 Industrial
8.6.6.1 Historical Trend (2018-2023)
8.6.6.2 Forecast Trend (2024-2032)
8.6.7 Others
8.7 Global Photonics Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Photonics Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Photonics Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Photonics Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Photonics Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Photonics Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Schott AG
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Nikon Corporation
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Hoya Corporation
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Corning Incorporated
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Intel Corporation
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Ohara Corporation
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Hamamatsu Photonics K.K.
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Photonics Market: Key Industry Highlights, 2018 and 2032
2. Global Photonics Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Photonics Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Photonics Historical Market: Breakup by Application (USD Billion), 2018-2023
5. Global Photonics Market Forecast: Breakup by Application (USD Billion), 2024-2032
6. Global Photonics Historical Market: Breakup by End Use (USD Billion), 2018-2023
7. Global Photonics Market Forecast: Breakup by End Use (USD Billion), 2024-2032
8. Global Photonics Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Photonics Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Photonics Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Photonics Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Photonics Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Photonics Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Photonics Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Photonics Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Photonics Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Photonics Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Photonics Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Photonics Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global Photonics Market Structure
Key Questions Answered in the Report
In 2023, the market attained a value of approximately USD 741.65 billion.
The market is projected to grow at a CAGR of 7.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach around USD 1421.38 billion by 2032.
The major drivers of the market are the rising demand for energy-efficient products and the increasing use of photonic products in diverse applications.
The key trends guiding the growth of the market include the technological progress of light-based technologies, sustainable solutions, and growing applications in healthcare sectors.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
LED, lasers, detectors, and sensors and imaging devices, optical communication systems and components, and consumer electronics and devices, among others, are the leading types of photonics in the market.
Surveying and detection, production technology, data communication, image capture and display, medical technology, and lighting, among others, are the significant applications of photonics.
Building and construction, media, broadcasting and telecommunication, consumer and business automation, medical, security and defence, and industrial, among others, are the major end uses of photonics in the market.
The major players in the market are Schott AG, Nikon Corporation, Hoya Corporation, Corning Incorporated, Intel Corporation, Ohara Corporation, and Hamamatsu Photonics K.K., among others.
Analyst Review
The global photonics market attained a value of USD 741.65 billion in 2023, driven by the rising demand for energy-efficient products. Aided by the rising technological advancements, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 7.5%. The photonics market is projected to reach USD 1421.38 billion by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on types, the photonics industry can be segmented into LED, lasers, detectors, and sensors and imaging devices, optical communication systems and components, and consumer electronics and devices, among others. On the basis of application, the industry is divided into surveying and detection, production technology, data communication, image capture and display, medical technology, lighting, and others. By end uses, the industry is categorised into building and construction, media, broadcasting and telecommunication, consumer and business automation, medical, security and defence, industrial, and others. The major regional markets for photonics are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Schott AG, Nikon Corporation, Hoya Corporation, Corning Incorporated, Intel Corporation, Ohara Corporation, and Hamamatsu Photonics K.K., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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