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MARKET OUTLOOK

Triton Market Research's report estimates the photonics market in Europe to advance at a compound annual growth rate of 7.77% during 2021-2028. Russia, Germany, the United Kingdom, Spain, Italy, France, and Rest of Europe shape the market in this region.

In the region, France holds the second-largest share based on value in the photonics market. This growth can be attributed to the increasing number of developments across the country. For instance, IRT Nanolec, a French research institute, introduced its photonics program to develop photonics-based solutions in order to meet the demand for high-performance computing and data center applications. Additionally, another research institution, Leti, launched a silicon photonics process design kit for high speed optical transceivers. Hence, such programs are anticipated to increase the application of photonics solutions, thereby driving the photonics market on a growth path within France. 

In recent years, several new developments have supported the growth of the photonics market in Spain. Moreover, major companies like VLC Photonics and DAS Photonics have contributed immensely to the development of photonics technology across the country. Earlier, researchers in the Institute of Telecommunications and Multimedia Applications collaborated with the Silicon Photonics Group to develop a photonics chip. Hence, these steps undertaken by institutes and companies are anticipated to influence the adoption of photonics-based solutions across various industries. This will further open new avenues for the photonics market in Spain in the near future. 

COMPETITIVE OUTLOOK 

The prominent companies in the photonics market comprise Finisar Corporation (II-VI Incorporated), International Business Machines Corporation (IBM), Infinera Corporation, Carl Zeiss AG, Molex LLC, Koninklijke Philips NV, and Hamamatsu Photonics KK.