A major factor fueling the rise in the sales of photonic-based devices is the greater energy-efficiency of these devices in comparison to the electricity-based ones. Furthermore, energy efficiency has quickly become a necessary parameter in the design and manufacturing of high-performance computing devices and systems. This is because energy-efficient devices work efficiently for a longer period of time at much lower maintenance costs and consume lesser energy than the electricity-powered ones.
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As a result, these devices generate lesser emissions and are therefore, more eco-friendly than electric ones. The global photonics market is predicted to demonstrate unprecedented growth in the coming years. Measurement and image processing, lighting, production technology, medical technology and life science, information technology (IT), communication, photovoltaic (PV), and display are the major application areas of photonics solutions.
Amongst these, the adoption of these solutions is predicted to rise rapidly in lighting applications such as entertainment lighting, retail lighting, and architectural lighting in the future years. Globally, the Asia-Pacific (APAC) photonics market was the most lucrative in the years gone by and this trend will continue in the upcoming years as well. The market is registering explosive growth in China, because of the presence of numerous manufacturing industries and plants in the country.
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For example, the eastern provinces of the country such as Jiangsu, Fujian, Shandong, and Zhejiang are home to many automobile parts manufacturing plants and other manufacturing factories. Due to the existence of several automobile manufacturing centers, the demand for photonics products is quite high in these provinces.
Hence, it can be said with surety that the sales of photonics devices will surge all over the world in the years to come, primarily because of the growing requirement for energy-efficient products in various industries and residential settings around the world.