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May 17th, 2013
 
Photonics growth in Europe outpaces GDP to hit €615B in 2020
 
With a worldwide market value projected to hit €615 billion (about $791 billion) in 2020 and to remain stronger than the gross domestic product (GDP), photonics has moved from a niche application to a key enabling technology, according to Photonics Industry Report 2013, which was presented at Laser World of Photonics this week.
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The high-tech segment also has demonstrated solid growth since 2005, despite the financial crisis, the report states.

A joint initiative of the trade associations VDMA, Spectaris and ZVEI, and of the German Federal Ministry of Education and Research (BMBF), the report examines 10 photonics subsegments in detail between 2005 and 2011 and projects their future growth through 2020. Growth in the photonics industry, at about 6.5 percent a year, more than doubled that of the worldwide GDP (gross domestic product), the report states, and by 2010-11, the industry had recovered to its pre-economic crisis levels of 2008. In 2011, the market’s value was about €350 billion (about $450 billion).

To read more: http://photonics.com/Article.aspx?AID=53894

 

 
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