Photonics Market Will Reflect Significant Growth Prospects during 2018-2023

• The global market for vertical-cavity surface-mitting lasers (VCSELs) should grow from $1.6 billion in 2017 to $3.6 billion by 2022 at a compound annual growth rate (CAGR) of 17.6% from 2017 to 2022.
• The global market for ultrafast lasers should grow from $2.7 billion in 2017 to $8.1 billion by 2022 at a CAGR of 24.7% from 2017 to 2022.
• The global. market for fiber optics should grow from $3.2 billion in 2017 to $5.0 billion by 2022 at a CAGR of 9.4% from 2017 to 2022.

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Report Scope

The increase in the adoption of photonics is gradually replacing electric conductors, which are used in semiconductors for high speed transmission systems, with silicon photonics. The rise in the optical transceivers devices which are developed using silicon photonics helps in developing transmission speeds of over 100Gbps, which is expected to have a mass adoption and helps in the development of the high-performance computing with increased efficiency. These devices are being predominantly used for image capturing and display capturing. Photonics has also helped in shifting to intelligent lighting solutions such as OLED technologies.

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