The Global market for India Photonics Market is estimated to reach $70.04million by 2025, growing at a CAGR of 7.9% from 2020 to 2025. Photonics is a technology of generating and harnessing light and other forms of energy through photons. The demand of photonics technology in various fields like aerospace technology, healthcare, environmental technology and others are projected to propel the significant growth of the India Photonics Market. Use of laser technology in most of the healthcare centers for cancer monitoring is one of the factors driving the growth of the India Photonics market.
Use of photonics in Indian market for cost-effective cancer screening, green-house gas monitoring, water management and others are boosting the growth of India Photonics Market.
- The rise in use of LASER technologies in healthcare sector along with rise in applications of fiber optics in telecommunication sector, media & broadcasting, military and defense and others are driving the growth of the market.
- Use of Photonics technology in healthcare is one of the major applications inthe market owing to the rise in use of LASER treatment technology in Urology, oncology, dermatology and other treatments are boosting the growth of the market.
- In India, rise in demand of fast internet along with internet penetration by various companies has resulted in deployment of optical fiber owing to its bandwidth and communications thereby fueling the growth of the market in India.
By Type- Segment Analysis
By type the India Photonics Market is segmented into Photovoltaics, Biophotonics, Displays, optical components and others. Optical components are witnessing a significant growth in the market owing to the wade use of optical fibers for communications in the field of telecommunications. Fiber optic cables carry information between two places using only light-based technology. A single fiber optic cable is responsible for several million calls across the globe. Apart from telecommunication industry, optical fibers had large applications in medical sector as it is used for light guides, imaging tools and others. Traditional copper cables are replaced by optical fibers owing to their large bandwidth and improved data communication speed over large distances. Furthermore, fiber optics is used as hydrophones foe seismic and SONAR, aircrafts, submarines and other underwater applications aiding the growth of the market.
End users – Segment Analysis
By End Users the market is segmented into Telecommunications, Consumer Electronics, Energy sector, Automotive, Industrial and others. Consumer Electronics is dominating the market. The growing use of photonics in sensors, solar power LED street lighting, mobile home theater headset and others are aiding the growth of photonics in consumer electronics. Photonics are used in manufacturing of high resolution flat-panel displays and cameras along with smart phones, television and others. Companies are focusing on innovations in laser technologies for manufacturing of these sophisticated and high resolution devices using these technologies. In the recent days ultrafast lasers are used to provide these facilities in manufacturing. The leading LED technology revolutions are also influencing the market growth. Furthermore, the developments of organic LEDs and active –matrix organic LEDs offer superior overall image quality , power efficiency and weight at lower manufacturing costs. These factors are propelling the significant growth of the market.
Drivers-India Photonics Market:
- Surge in adoption of Photonic technology in healthcare sector:
In India there is growing need of photonics technology in the healthcare sector owing to the country’s rising population along with industrial sectors. In the healthcare sector the growing use of laser technology in cancer treatment, eye surgeries and others are boosting the growth of the market. Futhermore, Laser technology is widely used in the healthcare sector for removing stones during the surgery in kidney, in eye surgeries to repair the detached retina, for shrinking the tumor size in cancer therapy. Laser is also used for cosmetic surgery.
- Rising use of photonics applications in the various end use industries:
The rising use of photonics in various end use industries owing to its wide range of applications is projected to propel the growth of the market. The rise in use of fiber optics in media and broadcasting along with telecommunication for fast and better communications are driving the growth of the market. Fiber optics are widely use in military and defense for safe and secure communications. Furthermore, surge in adoption of photonic technology in form of sensors, lasers, optical fiber and others are also fueling the growth of the market.
- Rise in R&D activities:
The rise in R&D activities of photonics technology is also driving the growth of the market. Investment and funding in various projects related to photonics technology are aiding the growth of the market.
Challenges – India Photonics Market:
- Cost of Fiber optics components is expensive:
In India many of the end user industries are using electrical systems instead of fiber optics owing to the high cost of transmitters and receivers of the optical fiber. Lack of standardization of many industries has also limited the use of optical fiber in India. Since India is a developing country there is lack of educated technicians for deploying optical fibers in the industries hindering the growth of the market.
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the India Photonics Market are given in this report. India Photonics Market is dominated by major companies such as Himachal Futuristic Communications Ltd, Simco Groups, Teracom Limited, Finolex Cabels Limited, Birla Furukawa Fiber Optics Limited, Sterlite Technologies Limited, RPG Cables Ltd., Laser SOS Pvt. Ltd., Scantech Laser Pvt. Ltd., and Suresh Indu Lasers Pvt. Ltd. among others.