Photonics Market: Global Indsutry In Depth Research 2018-2026 by Key Players and Technological Advancement

The Global Photonics market is expected to grow from $490.26 billion in 2017 to reach $1165.92 billion by 2026 with a CAGR of 10.1%. Need for energy efficient products and increasing adoption of photonics products among various applications are some of the key factors driving the market growth. However, strict environmental regulations are hampering the market.

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Photonics is the technology to facilitate merges optics with electronics. These crystals usually create awareness of both academic & industrial research, and are providing new tools for the manipulation of photons. Photonic crystals are used in information & telecommunication industry, healthcare, optics manufacturing, education & research, optical sensing energy, energy & displays, and other sectors.

By application, production technology segment has acquired significant growth. The high growth of this segment is attributed to the increasing use of photonics products to improve the process and energy efficiency of production technologies. Moreover, the LED segment is projected to lead the market during the forecast period. The growth of this segment is attributed to the rising use of relatively higher energy-efficient LEDs in the lighting and display applications.

Based on geography, Asia Pacific is estimated to grow at the highest CAGR during the forecast period due to increasing end-user industries, such as building & construction; media, broadcasting, & telecommunication; medical; industrial; and security & defense. Urbanization and the constant increasing population are also expected to increase the demand for photonics in this region.

Detail PR@https://www.reuters.com/brandfeatures/venture-capital/article?id=44417

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