The global photonics market was valued at USD 979.90 billion in 2024 and is projected to reach USD 1,301.49 billion by 2030, expanding at a CAGR of 4.8% from 2025 to 2030. Market growth is primarily driven by rapid technological advancements across key sectors such as telecommunications, healthcare, and manufacturing, where photonic technologies are playing an increasingly critical role.
Innovations including laser technologies, optical sensors, and photonic integrated circuits are becoming essential components of modern systems, significantly improving efficiency, precision, and performance across industries. Furthermore, the rising demand for high-speed data transmission—fueled by the expansion of cloud computing, data centers, and the growing number of internet-connected devices—is further accelerating the adoption of photonic solutions.
The global rollout of 5G technology is another major growth catalyst, as next-generation communication networks require highly reliable, high-bandwidth optical infrastructure. This trend is particularly strong in developing economies, where investments in telecommunications infrastructure are increasing rapidly. As industries continue to integrate photonic technologies to enhance operational efficiency and reduce energy consumption, demand is expected to expand steadily across multiple end-use sectors.
Key Market Trends & Insights
- North America dominated the global photonics market with a 35.5% revenue share in 2024.
- The United States led the North American market in 2024.
- By product, the photodetectors segment accounted for the largest share, capturing 18.8% of global revenue in 2024.
- By application, the display segment held the highest market share in 2024.
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Market Size & Forecast
- 2024 Market Size: USD 979.90 Billion
- 2030 Projected Market Size: USD 1,301.49 Billion
- CAGR (2025–2030): 4.8%
- Largest Market (2024): North America
- Fastest-Growing Region: Asia Pacific
Competitive Landscape
The photonics market is characterized by continuous innovation, strategic collaborations, and significant investments aimed at advancing integrated photonics, optical connectivity, and high-speed communication technologies.
- In March 2024, VLC Photonics, a subsidiary of Hitachi, announced a strategic partnership with OpenLight. The collaboration enables VLC Photonics to enhance its design and testing services using OpenLight’s Process Design Kit (PDK), supporting simultaneous multi-design development on the Tower Semiconductor PH18DA process. This partnership accelerates the development of photonic integrated circuits (PICs) and strengthens the silicon photonics ecosystem.
- In July 2023, Celestial AI successfully completed a USD 100 million Series B funding round to advance its Photonic Fabric technology platform. The funding was led by Koch Disruptive Technologies, IAG Capital Partners, and Xora Innovation, with participation from Samsung Catalyst Fund, Smart Global Holdings, and Porsche Automobil Holding SE. The platform aims to significantly enhance optical connectivity performance in data-intensive applications.
Key Companies in the Global Photonics Market
- 3SP TECHNOLOGIES S.A.S.
- Coherent Corp.
- Hamamatsu Photonics K.K.
- TRUMPF
- Lumentum Operations LLC
- Infinera Corporation
- INNOLUME
- IPG Photonics Corporation
- Cisco Systems, Inc.
- Luna Innovations Incorporated
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Conclusion
The photonics market is poised for steady growth through 2030, supported by rising demand for high-speed data transmission, advancements in laser and sensor technologies, and expanding adoption of photonic solutions across telecommunications, healthcare, manufacturing, and consumer electronics. Strategic partnerships, increased R&D investments, and the rapid deployment of 5G infrastructure are expected to further strengthen market momentum. As industries continue to prioritize efficiency, connectivity, and energy optimization, photonics technologies will remain central to next-generation innovation.
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