Photonics Market Share, Size, Sales Revenue and Forecast 2022-27
The latest research study "Photonics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" by IMARC Group, finds that the global photonics market reached US$ 744.38 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 1,080.05 Billion by 2027, exhibiting a growth rate (CAGR) of 6.15% during 2022-2027. Photonics represents a technology or an area of study that deals with the science of generating, detecting, controlling, and manipulating photons, radiant energies, light, etc. It is considered a subset of various optic disciplines, including geometrical, physical, quantum, etc. In line with this, photonics includes a light-emitting diode (LED), imaging devices, lasers, sensors, and detectors as standard product types. These photonics-enabled equipment offer higher energy efficiency, a longer life span, better accuracy, and faster operations than their counterparts. It ensures data transmission, generates less heat,