"Media, broadcasting, and telecommunication, the largest end-use industry for photonics"
The media, broadcasting, and telecommunication sector is estimated to be the largest end-use industry for photonics. The industry is growing due to rising demand for optical fibers. Optical fibers are preferred over metallic wires due to greater safety and security. Moreover, optical fibers cater to high speed transmission requirements for 4G, LTE, and FTTx networks. Optical fibers have witnessed an increase in demand due to investments in telecommunications and information technology and new developments in countries such as China, the U.S., India, and Western and Eastern European countries. Mobile phones and personal computing are promoting the use of photonics in the media and broadcasting industry by enabling data exchange using optical fibers.
"Asia-Pacific is the largest and the fastest-growing market for photonics"
Asia-pacific is estimated to be the largest and the fastest-growing market for photonics. The high growth rate in the region is owed to high demand from countries such as Japan, China, and India. China is projected to be the largest market for photonics in Asia-pacific in the near future. India is estimated to be the fastest-growing market in Asia-pacific. Growth of important industries such as building & construction and media, broadcasting, and telecommunication has increased the demand for photonics in the region.
Extensive primary interviews were conducted to determine and verify the market size for several segments and sub-segments gathered through secondary research.
The break-up of primary interviews is given below.
- By Company Type - Tier 1 – 37%, Tier 2 – 50%, and Tier 3 – 13%
- By Designation - C level – 50%, Director level – 31%, and Others – 19%
- By Region - North America – 31%, Europe – 38%, Asia-Pacific – 25%, and RoW- 6%
The companies profiled in this market research report are Royal Philips N.V.(Netherlands), Schott AG (Germany), Nikon Corporation (Japan), Shin-Etsu Chemical Company Limited (Japan), Hoya Corporation (Japan), Corning Incorporated (U.S.), Asahi Glass Company Limited (Japan), II-VI Inc.(U.S.), Ohara Inc. (Japan), and American Elements (U.S.).
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/photonics-market-by-application-end-use-industry--market-estimated-to-reach-usd-72422-billion-by-2021-300335245.html