Photonics Market Drivers and Growth Rate, Forecast by 2030

The product type segment of the photonics market is classified into laser, light-emitting diode (LED), optical component and system, and sensor and detector. Among these, the LED category is expected to exhibit the fastest growth throughout the forecast years as the integration of LED technology into intelligent digital lighting solutions will result in reduced energy consumption.

Additionally, the energy efficiency and greater life span of LED lights will also contribute to the growth of this category in the forecast years. In contemporary times, the industrial sector utilizes the highest volume of photonics products due to the surging use of such products, such as lasers, in the manufacturing sector for cutting, drilling, welding, and laser marketing applications.

Further, the consumer electronics industry is expected to adopt a considerable quantity of photonics products, on account of the booming demand for smart air conditioners, smart TVs, and smart refrigerators. Additionally, the telecommunication, medical, and defense and security sectors also consume a notable quantity of such products.

Geographically, the APAC photonics market generated the highest revenue during the historical period (2014–2019), and it is also expected to display the fastest growth during the forecast period. This can be primarily ascribed to the large-scale adoption of consumer electronics in China, Indonesia, India, Japan, South Korea, and Thailand.

In the forecast years, India will exhibit the fastest growth in the APAC market due to the booming PV industry and strengthening manufacturing sector, on account of the implementation of government initiatives such as 'Make in India', in the country. Therefore, the increasing installation of solar PV cells and solar thermal plants and escalating demand for energy-efficient products will encourage the usage of photonics products in the upcoming years.

Comments

BFSI Using Advanced Security Solutions to Protect Data and Financial Assets

Banks and financial institutions are gradually shifting their core applications over to the cloud network, to offer a personalized banking experience, mitigate the risks associated with conventional technologies, improve the operational control of platforms, reduce capital expenditure, and meet the growing need for real-time analysis of high-volume data. However, the deployment of the cloud infrastructure escalates the risk of cyberattacks, as the data is stored at remote locations. Get the Sample Copy of this Report @ https://www.psmarketresearch.com/market-analysis/bfsi-security-market/report-sample To combat the cyber threat, such institutions are increasingly adopting a range of advanced security solutions. The financial service sector has become a prime target for cybercriminals, as it centers around financial assets and generates massive unstructured data. Moreover, progressive steps such as the adoption of online banking and shift toward digital processes have increased the pro

RF Semiconductor Market a $5.0-Billion Investment Opportunity by 2030

The major factors leading to the rising demand for radiofrequency (RF) semiconductors are the increasing popularity of smartphones, enhancements in the wireless communication technologies, and escalating adoption of the internet of things (IoT). As a result, from $2.1 billion in 2019, the market of RF semiconductor will witness an 8.8% CAGR during 2020–2030 (forecast period), to reach $5.0 billion by 2030. Made of semiconductor materials, such components enable RF communication in an array of sectors. Get the Sample Copy of this Report @ https://www.psmarketresearch.com/market-analysis/rf-semiconductor-market-report/report-sample The material segment of the market is classified into indium phosphate, gallium arsenide, gallium nitride, silicon, and silicon germanium. Among these, during the historical period (2014–2019), the largest share was held by the gallium arsenide category because RF semiconductors made from this material consume less power, account for low power dissipation, ca

How Is Consumer Electronics Sector Helping Silicon on Insulator Market Grow?

Currently, the major players of the silicon on insulator market are taking strategic measures, such as product launches, facility expansions, partnerships, geographical expansions, client wins, and mergers and acquisitions, to gain a competitive edge in the market. For example, in January 2019, Soitec SA extended its collaboration with Samsung Foundry to increase the volume supply of FD-SOIs. With the new agreement, these companies extended their partnership and secured a high-volume supply of FD-SOI wafers to cater to the surging demand for SOI wafers in consumer, automotive, and internet of things (IoT) applications. The wafer type segment of the silicon on insulator market is categorized into radio-frequency SOI (RF-SOI), power-SOI, imager-SOI, photonics-SOI, fully depleted SOI (FD-SOI), and partially depleted SOI (PD-SOI). In 2018, the RF-SOI category generated the highest revenue, due to the escalating use of RF-SOI in advanced LTE smartphones and huge investments made in the

News Market Insights

Search This Blog