Trend
Light technologies buck trend despite global economic turmoil
By the Photonics21 research team N
ew research published by Photonics21, the European technology platform for photonics – the discipline focusing on the study and manipulation of light, and
conducted by the French market intelligence group Tematys, shows that the photonics industry in Europe, the US and Asia outpaced global GDP between 2019 and 2022, at a compound annual growth rate of 6.8%, despite geopolitical risks significantly affecting international trade. Global GDP growth has generally fluctuated between two
and five percent each year since 1980. In 2022, this increase amounted to $865bn, and will continue to grow to 2027, when the study projects a figure of $1.2 trillion. “Te latest research from Tematys shows that light
technologies are bucking the global trend against a backdrop of some of the most turbulent economic and geopolitical activities in decades” said Dr Lutz Aschke, Photonics21 President and CEO of Photonics Systems Group. “Te findings from the study also show Europe’s central role in driving worldwide photonics innovation. While the EU can maintain its competitive edge with its enormous photonics capacity and an innovative ecosystem spanning the continent, a sustained investment will be crucial to harnessing the full potential of optics and photonics in the coming decades.” Tematys identified photonics applications in environment,
energy, lighting, Industry 4.0, and agriculture as the fastest- growing segments across the world. While the relatively small segment of photonics for agriculture and food is an emerging market at present, this domain showed an exceptional CAGR of 11.8% during the period. “Given that photonics and the technologies developed by
harnessing the power of light are critically important to a number of industries worldwide, this strong growth is easy to understand. In healthcare, for example, optics and photonics are enabling scientists to develop fast and precise imaging of major diseases, accurate diagnostics, and minimally invasive surgical procedures using lasers. Within the next few years, we will experience remarkable photonic solutions that will improve our everyday lives,” added Dr Aschke.
European industry highlights Te study reveals substantial growth and development in European photonics between 2019 and 2022. Key highlights include: • Tousands of extra jobs – Employment surged by 35,000 jobs during this period, far exceeding the growth rate of European manufacturing as a whole.
• Industry volume – European photonics production soared 04 July/August 2024
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to €124.6bn in 2022, representing over 5,000 companies and contributing significantly to Europe’s manufacturing landscape.
• Annual revenue growth – Te sector witnessed a remarkable annual revenue growth rate of 6.5% (2019-2022), outpacing Europe’s GDP growth even aſter accounting for inflation.
• Market share – Europe maintained a strong position as the second-largest player in the global photonics market (15% share), underscoring its competitiveness against major counterparts like China and the United States.
• Innovation and R&D – Te European photonics industry exhibits a strong commitment to research and innovation, with an R&D intensity of 10.5%, significantly higher than other industries.
Photonics Photonics is integral to a wide range of industries, including the medical, healthcare, transport, manufacturing, and telecommunications sectors. Te Photonics21 platform was set up in December 2005 to
bring the community of photonics researchers and industries together. Te European Commission defined photonics as one of five European Key Enabling Technologies (KETs) in September 2009. Shortly thereaſter, the European Research & Innovation Program “Horizon 2020” invited Photonics21 to become a public-private partnership member. Te “Photonics 21 Association”, a legal entity under Belgian law, became the private contract partner in November 2013 in a public-private partnership in conjunction with the EU Commission. Today, Photonics21 represents over 4,000 personal members
from across Europe and abroad, consisting of photonics companies, research organisations and universities who actively engage with us to develop a joint photonics strategy for future research and innovation in Europe. Photonics is one of the rare critical technologies in which
Europe is still a global powerhouse in research and business. Several Nobel Prizes have been awarded to European scientists for photonics achievements in the past two decades. 5,000 European SMEs are so-called hidden champions and world market leaders in their specific photonics markets. Europe ranks number two in the world in terms of production volume and market share. With more than 400 startups, Europe is one of the most thriving and innovative photonics regions in the world. Leadership in the development of photonics components and systems means a competitive advantage in many key markets and policy areas, such as quantum internet, quantum computing, next-generation microelectronics, autonomous vehicles, Industry 5.0, virtual worlds, fusion energy and many more.
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