As per the most recent study conducted by Future Market Insights, the worldwide photonics market is expected to grow at a compound annual growth rate (CAGR) of 5.8% and reach a valuation of US$ 911.5 billion by 2023. It is anticipated that the photonics industry would reach a total value of US$ 1.6 trillion by the year …
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Photonics Market to Cross US$ 1.6 Trillion by 2033 amid Widening Application in Medical Technology and Defense | Future Market Insights, Inc.
According to the latest analysis by Future Market Insights, the global photonics market is set to be valued at US$ 911.5 billion in 2023 and rise at 5.8% CAGR during the projection period. By 2033, total market size of photonics is forecast to reach US$ 1.6 trillion by the end of 2033. Based on application, displays segment …
Global Photonics Market Surges to $911.5 Billion in 2023, Fueled by Technological Advancements and Rising Demand
The global photonics market has experienced remarkable growth, with its size reaching an impressive US$ 911.5 billion in 2023 from US$ 855.5 billion in the previous year. This upward trajectory is projected to continue, with photonics sales anticipated to increase at a robust CAGR of 5.8% during the period from 2023 to 2033. This forecast suggests that …