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As per Envision Intelligence estimates, Global Photonics market will be growing with 8.25% CAGR during 2018-2024 owing to the rising number of technological advancements

Mourya
Mourya
The report "Global Photonics Market" : By Type  (LED’s, photodetectors, lasers, amplifiers, optical modulators, wavelength division multiplexer filters and others); By Application (safety and defense technology, metrology, displays, sensing and others);  By End-user (media, broadcasting & telecommunication, medical, industrial and others); &  By Geography - Forecast (2018-2024).  Envision Inteligence estimates that Global Photonics Market size is projected to reach $575.20 billion by the end of 2024 with a CAGR of 8.25% from $872.62 billion in 2018.  Need for energy efficient products, increasing adoption of photonics products in various applications are the factors driving this market. Download a free sample report @ https://www.envisioninteligence.com/industry-report/global-photonics-market/ According to photonics market trends, Lasers, Amplifiers, Photodetectors are anticipated to show highest growth rate during the forecast period. Owing to the increasing demand for high operational efficiency, high sensitivity, precise measurement, and high-quality imaging offered by these products are the reasons which are making to contribute the largest share of global photonics market. According to photonics industry report 2018, Media, Broadcasting & Telecommunication is leading the photonics market. Photonics are used in communication, data storage, and data sharing purposes which have advanced the speed of internet and quality of voice calling. Media, broadcasting & telecommunication accounts for the large share and helps to propel the photonics market growth. North America is the leading market and is expected to retain its dominance over the photonic market forecast period North America dominates the market in 2017 owing to increasing adoption of advanced technologies as well as increasing investments in the form of government funding for the establishment of research facilities for further development of this technology. As per Photonics market report, APAC region is expected to show highest CAGR within the forecast period Owing to the increasing adoption of photonics products in application areas such as displays, lighting, and information & communication technology and increased government spending on digitization and process improvement in the manufacturing sector are expected the factors fueling the market growth. Moreover, increasing governments spending on digitalization is expected to fuel the growth of photonics market in India which helps to grow the photonic industry market size in APAC region. The key players determined after photonic market analysis include   Hewlett-Packard Company, Hamamatsu Photonics K.K., Luxtera, Inc., 3S Photonics S.A.S., IBM Corporation, IPG Photonics, Osram Corporation and others.