Worldwide Photonics Market Growth of 8.4% CAGR to 2021 Dominated by Manufacturing Technology

Sep 26, 2016, 04:00 ET from ReportsnReports

PUNE, India, September 26, 2016 /PRNewswire/ --

The worldwide photonics market size is estimated to reach $724.22 billion by 2021, at a CAGR of 8.4% between 2016 and 2021 with manufacturing technology forecast to register fastest growth while media, broadcasting, and telecommunication set to dominate the end-use industry for photonics market.

Complete report on global photonics market spread across 160 pages, profiling more than 10 companies and supported with 86 tables and 58 figures is now available at .

The High performance and energy saving photonics products such as high speed fiber optics communication networks and highly precise laser systems makes them preferable in various applications. The photonics market in the manufacturing technology application segment is projected to witness the highest growth during the forecast period. Photonics products are used in manufacturing units for cutting and welding operations using lasers. Lasers are replacing traditional machine tools in manufacturing applications as low cost fiber laser and industrial pulse lasers are being developed. Photonics are also used in the manufacturing of consumer electronics such as DVD players, television, and optical mouse pointers.

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 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.

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.). Order a copy of Photonics Market by Application (Display, Photovoltaic, Lighting, Manufacturing Technology), End-use Industry (Building & Construction, Media, Broadcasting & Telecommunication, Consumer & Business Automation, Medical, Industrial) - Global Forecasts to 2021 research report at .

On a related note, another research on Silicon Photonics Market Global Forecast to 2022 says, active optical cables to hold a large market share of silicon photonics market. The global market is expected to reach USD 1,078.9 million by 2022, at a CAGR of 22.1% between 2016 and 2022. Increasing demand for high-speed data transfer, data integration is expected to be the major growth factors. Companies like Cisco Systems, Inc., Intel Corporation, IBM Corporation, Mellanox Technologies, Ltd., Hamamatsu Photonics K.K., STMicroelectronics N.V., Infinera Corporation, Finisar Corporation, Luxtera Inc., DAS Photonics and Aurrion Inc. have been profiled in this 193 pages research report available at .

Explore more reports on the Semiconductor and Electronics market at .

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