Report Highlights
- The global market for biophotonics was valued at $62.6 billion in 2024. It’s expected to grow from $68.4 billion in 2025 to reach $113.1 billion by the end of 2030, at a compound annual growth rate (CAGR) of 10.6% from 2025 to 2030.
- The global market for laser systems, components and materials is expected to grow from $21.0 billion in 2024 to reach $30.4 billion by the end of 2029, at a compound annual growth rate (CAGR) of 7.7% from 2024 through 2029.
- The global market for photonic integrated circuits (PICs) is expected to grow from $13.9 billion in 2024 and projected to reach $24.2 billion by 2029, at a compound annual growth rate (CAGR) of 11.8% from 2024 through 2029.
Report Scope
Advanced technologies such as photonic integrated circuits (PICs), laser systems, optical sensing, and LiDAR are presenting targeted business opportunities for industrial companies in the photonics domain. For instance, laser processing is capable of precise component manufacturing for industries such as telecommunications, healthcare, and semiconductor manufacturing. High-speed data transmission, especially within data centers and network infrastructure, is enabled by PICs. Although there is gradual growth, photonics functions as an enabling technology alongside digital technologies rather than replacing traditional manufacturing processes. Government-backed initiatives focused on semiconductor and advanced manufacturing ecosystems are indirectly supporting the expansion of photonics capabilities.
At present, photonics equipment manufacturers are focusing on delivering energy-efficient and application-specific solutions, particularly in areas such as optical communication, industrial sensing, and medical imaging. For example, in an industrial setup, optical sensors enable precise measurement of temperature, pressure, and other conditions, which improves efficiency and reduces resource waste. The increasing demand for high-speed connectivity, driven by cloud computing and data-intensive applications, is fueling the need for photonics-based components, such as optical transceivers and laser modules. Photonics remains a niche industry, with growth concentrated in key markets rather than the broader consumer base. To address supply chain reliability in critical components, several countries are investing in domestic capacities, although this has largely focused on semiconductor fabrication, which also feeds into the photonics value chain.
Research Reviews from BCC Research provide market professionals with concise market coverage within a specific research category. This 2025 Research Review of the photonics domain provides a sampling of the type of quantitative market information, analysis, and guidance that BCC Research has been developing since its inception in 1971 to help its customers make informed business decisions. This Research Review includes highlights and excerpts from the following reports published by BCC Research in 2025:
- PHO024B Biophotonics: Technologies and Global Markets
- PHO002D Global Markets for Laser Systems, Components and Materials
- PHO007C Photonic Integrated Circuits: Global Markets with Special Focus on Silicon Photonics
After you survey the excerpts in this Research Review, we encourage you to follow up on these topics by checking out the full market research report(s) associated with each topic. BCC Research looks forward to serving your market intelligence needs in the future.
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Recent Reports
2025 Photonics Research Review
Explore BCC Research’s 2025 Photonics Research Review featuring market trends, technology developments, and insights across key photonics segments, applications and growth opportunities.
Biophotonics: Technologies and Global Markets
The global market for biophotonics was valued at $62.6 billion in 2024. It’s expected to grow from $68.4 billion in 2025 to reach $113.1 billion by the end of 2030, at a compound annual growth rate (CAGR) of 10.6% from 2025 to 2030.
Global Markets for Laser Systems, Components and Materials
The global market for laser systems, components and materials is expected to grow from $21.0 billion in 2024 to reach $30.4 billion by the end of 2029, at a compound annual growth rate (CAGR) of 7.7% from 2024 through 2029.
Photonic Integrated Circuits: Global Markets with Special Focus on Silicon Photonics
The global market for photonic integrated circuits (PICs) is expected to grow from $13.9 billion in 2024 and projected to reach $24.2 billion by 2029, at a compound annual growth rate (CAGR) of 11.8% from 2024 through 2029.
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Report Highlights
- The global market for vertical-cavity surface-mitting lasers (VCSELs) should grow from $1.6 billion in 2017 to $3.6 billion by 2022 at a compound annual growth rate (CAGR) of 17.6% from 2017 to 2022.
- The global market for ultrafast lasers should grow from $2.7 billion in 2017 to $8.1 billion by 2022 at a CAGR of 24.7% from 2017 to 2022.
- The global. market for fiber optics should grow from $3.2 billion in 2017 to $5.0 billion by 2022 at a CAGR of 9.4% from 2017 to 2022.
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