The India Photonics Market is exhibiting a tremendous amount of potential for its future expansion. It is currently valued at $37 billion and is consistently registering strong annual growth rate of roughly 9%. According to IndustryARC analysis & findings, the primary growth drivers in this industry are the omnipresent usage of smartphones, the massive investment being ploughed into the development and expansion of 4G cellular network infrastructures, and India’s transition to generate clean energy by tapping solar and wind sources.
Recently, several exciting developments are encouraging the rapid expansion of the India Photonics Market. Apple is forging ahead, yet again, by setting up its first iPhone production facility in the country, located in Bangalore. This facility is already operating at full capacity and pumping out the SE models for sale. The world’s largest solar energy production plant, located in Kamuthi, has been operating at a capacity of 648 megawatts for nearly a year now. The government has also initiated plans to convert around 20 million street lamps, spread across the country, into LED lighting. There is no doubt that high-tech companies are increasingly attracted to the largely untapped Indian market and German-based photonics makers are perfectly positioned and eager to quench this rising demand.
We, at IndustryARC, have also reached similar conclusions in our research study, which was prepared with the collaboration of our partners, SPECTARIS, and then subsequently published at the LASER World of Photonics India trade show titled, “India Photonics Market – Trends & Opportunities Outlook 2017”. Our analysis indicates that, by 2023, the valuation of the Indian market for this technology will rise to $62 billion, out of which almost 80% will be concentrated on lighting, optical communication networks, and photovoltaic technology alone. The integration of optical solutions in medical technology and life sciences is also expected to transform into a solid growth avenue.
As far as the LASER World of Photonics India trade show is concerned, the atmosphere among the visitors and industry regulars was very positive and buoyant. The trade exhibition usually takes place in New Delhi and Bangalore on an annual basis. This year, it was organized in the capital from September 2014 – 2016, and provided an excellent picture of the potential of the 1.3 billion-strong Indian market with regards to optical technology.
A further boost was obtained in the form of the classification of photonics as a “priority field” by the Indian government. The establishment also announced the launch of a “National Photonics Council.” The general buzz around the fair was that bio- and green photonics, polymer materials, optical applications and communication would transform into critical development fields during the coming decade. The usage of photonics in India are rising at a tremendous pace in a wide range of fields like electronics, photovoltaic, clean energy generation, automotive, telecommunications and so on.