Global Photonics Market Valued at $182 Billion

The value of annual sales in the global photonics market has been revised upwards to $182bn, according to new analysis by SPIE, the international society for optics and photonics (and owner of optics.org). The new results were presented by SPIE’s Industry and Market Strategist Steve Anderson at the Optics+Photonics expo exhibitors’ meeting in San Diego. 

On the basis of research performed to 2012, Anderson had previously assessed the annual value of the photonics market to be $160bn but SPIE has been working over the past two years to refine its list of key industry players and their sales.

He said, “In 2012 there were 2700 photonics companies worldwide, employing 686,000 people. By 2014, we saw an 18% increase in the number of active companies, now totaling 3194, sales were up by 15%, so the global business is worth $182 billion per year, and we now believe it employs 863,000 individuals, which would represent an increase of 26% over 2012.”

He described the updated analysis as “valuable information for industry leaders and academic researchers seeking to communicate the impact of the field.” These data have become more important in recent years, not just for forecasting and supporting investment, but increasingly at the political level with developments such as the US National Photonics Initiative and the EC’s Horizon 2020 programs, into which serious state money and policies are being directed.

Geography of global photonics components production, 2014

OPSPIEGeographyM

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Source: optics.org

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