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MARKET OUTLOOK

Triton’s report on the Asia-Pacific photonics market predicts the market to progress at a compound annual growth rate of 8.70% during the estimated phase 2021-2028. South Korea, China, ASEAN countries, India, Australia & New Zealand, Japan, and Rest of APAC form the market in the given region.

Presently, the photonics market is witnessing robust growth across India. This growth is majorly observed in the telecommunication, healthcare, and defense industry. Here, the growing technological advancements and rising demand for advanced communication systems are motivating the need for photonics technology across the country. Additionally, the reduction in the reliance on imported products is enhancing the demand for photonics technology-based products. Besides, the surge in the adoption of electronics products has encouraged companies to increase the production of photonic devices, in turn, opening new avenues for India’s photonics market. 

In South Korea, the increase in the demand for advanced data communication technologies is anticipated to influence the demand for photonics devices. Among the cities, Seoul has a significant number of data centers, which is motivating the growth of the studied market. Besides, the Korea Advanced Institute of Science and Technology has commenced research projects, such as the Silicon Photonics for Future Systems project. Such developments are anticipated to widen the scope and growth of the photonics market in South Korea within the next few years.  

COMPETITIVE OUTLOOK

Some of the distinguished companies in the photonics market include Huber+Suhner Polatis Photonics Inc, Hamamatsu Photonics KK, Infinera Corporation, Finisar Corporation (II-VI Incorporated), 3S Photonics, Molex LLC, and Koninklijke Philips NV.