— Latest update: April 2022 —
Like electronics, photonics products are used in many different applications and a wide range of sectors. According to the experts in the sector, the development of devices based on photonic science are going to change our societies and our way of living. There are many applications related to photonics. Even though the market for these products might still be in an evolutionary phase, its global value accounted for €654 billion in 2019 and is expected to grow to €900 billion in 2025. In 2019, Japan and the EU’s market share were estimated at 13% and 16% respectively.
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