Photonics Market | Exactitude Consultancy Reports

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Photonics Market by Type (LED, Lasers, Detectors, Sensors & Imaging Devices, Optical Communication Systems & Components, Consumer Electronics & Devices), Application (Displays, Information & Communication Technology, Photovoltaic, Medical Technology & Life Sciences, Measurement & Automated Vision, Lighting, Production Technology), End User (Building & Construction, Media, Broadcasting & Telecommunication, Consumer & Business Automation, Medical, Safety & Defense, Industrial) and Region, Global trends and forecast from 2022 to 2029

Photonics market is expected to grow at 6.26% CAGR from 2022 to 2029. It was valued 564.01 billion at 2020. It is expected to reach above USD 974.13 billion by 2029.

The healthcare industry is seeing an increase in the use of photonics-enabled technologies. The primary industries driving the worldwide photonics market are those of information and communication, as well as industrial production, and these industries are anticipated to continue to do so in the coming period.

Segment Analysis
Photonics market is segmented based on type, application, end user and region.

By type the market is segmented into LED, lasers, detectors, sensors & imaging devices, optical communication systems & components, consumer electronics & devices. LEDs are semiconductor devices that emit light in response to an electric current flowing through them. They are extensively utilized in horticulture, lighting, display, and automotive applications. There are several uses for lasers in industries like healthcare, industry, defense, and entertainment.

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