Photonics Market to become a billion-dollar sector with revenue growth of 287.13 Bn through 2023-2027
Globally reduction in transmission costs and scalability beyond 400G, followed by an increasing need for energy-efficient products like silicon photonics, and an increasing need for higher network bandwidth have fueled the market advancement of the Photonics Market into a Billion-dollar sector. It is estimated to exhibit growth at a CAGR of 6.11% between 2022 and 2027 followed by an increase of USD 287.13 billion in revenue.
Navigating through the growth drivers of the Photonics Market landscape: Rising adoption of photonics attributed to its benefits in communication network carriers as this network structure facilitates communication network carriers to transmit data across several end-user establishments on a single wavelength at a significantly reduced cost.
Snapshot of Photonics Market Growth Drivers
Market Trends: The emergence of optical data centers with continuous growth in cloud-based applications and big data analytics has revolutionized the scale of data center networks shaping the global photonics market growth.
"Technavio projects the growth trajectory of the market that is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking."
Key Companies and their key offerings: When it comes to the key market placers in the market landscape some of the examples comprise.
Some of the prominent names worth mentioning include AIO Core Co. Ltd., Carl Zeiss AG, Hamamatsu Photonics KK, II VI Inc., Infinera Corp., Innolume GmbH, Intel Corp., International Business Machines Corp., IPG Photonics Corp., Koch Industries Inc., NKT Photonics AS, Nokia Corp., etc. Our report includes qualitative and quantitative analyses of core companies with a wider understanding of the business ecosystem.
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Quick Info: Photonics is related to quantum electronics. Quantum electronics deals with the theoretical part of light, while photonics deals with its engineering applications. Photonics are optics that involve the generation, detection, and manipulation of light in the form of photons through emission, transmission, signal processing, switching, amplification, and sensing.