SPIE Estimated Worldwide Photonics Industry at $182 Billion Dollars
Steve Anderson SPIE
San Diego, Ca, At the Optics+Photonics expo SPIE held a series of industry events to highlight the market changes in recent years. One of the largest highlights in these presentations was that of Industry and Market Strategist Steve Anderson who presented a series of updates to the projections for the worldwide Photonics market share. The report of a 13.75% increase in worldwide market share despite recent fluctuations in laser sales brought a cheer to the photonics companies. The year of the light initiative is expected to create a boost in brand recognition which will increase grants and overall sales for the next two years but these additional figures will highlight the importance of the industry to policy makers and government sponsors.
The last time that SPIE had updated these projections was in 2012 and the industry was then estimated at &160 billion dollars. It was cited that the US and Japan’s combined share of the overall revenues was about 80% at that time. The newest projections with reporting through 2014 show that the industry has grown by an approximate 13.75% and is now shown to be around $182 billion dollars. Small business was reported to be on