CHICAGO, Aug. 2, 2022 /PRNewswire/ Advanced Ceramics Market size is estimated to be USD 10.9 billion in 2022 and projected to reach USD 13.9 billion by 2027, at a CAGR of 5.1%, according
The LED segment is the largest type of Photonics market
LED segment account for the largest share in the overall Photonics market. LED products are energy efficient and available at affordable prices increasing usage of LED in lighting and display applications to drive its demand during the forecast period. APAC accounted for the largest market share of the LED product type segment in 2019. Energy-saving measures drive the surge in demand from applications such as general lighting, automotive, and backlighting.
Information and Communication Technology is the largest application for the Photonics market.
By application, the Photonics market is classified into seven main end use application, namely Displays, Information & communication technology, Photovoltaic, Medical Technology & Life sciences (Bio photonics), Measurement & automated vision, Lighting and Production Technology.
Photonics Market worth $837.8 billion by 2025 - Exclusive Report by MarketsandMarkets Photonics Market by Type (LED, Lasers, Detectors, Sensors and Imaging Devices, Optical Communication Systems & Networking Components, Consumer Electronics & Devices), Application End-Use Industry, and Region - Global Forecast to 2025 , published by MarketsandMarkets, the Photonics Market is estimated to be USD 593.7 billion in 2020 and is projected to reach USD 837.8 billion by 2025, at a CAGR of 7.1 % between 2020 to 2025. The Photonics market is driven by the growing application of photonics-enabled products in the healthcare sector, information and communication sector, and industrial sector.
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