The global photonics market generated a revenue of $576.8 billion in 2019, and it is predicted to reach a value of $1,214.5 billion by 2030. According to the forecast of the market research company, P&S Intelligence, the market will advance at a CAGR of 6.9% from 2020 to 2030 (forecast period). The market is being driven by the surging adoption of photonics products in communication applications and the burgeoning demand for energy-efficient products across the world. Over the last few years, the demand for energy efficiency has grown massively and it has also become a crucial parameter in the development of various high-performance computing systems, as energy-efficient systems need less fuel to function and can operate efficiently for a long period of time without requiring extensive maintenance. Moreover, the governments of many countries are launching renewable energy programs to reduce greenhouse gas (GHG) emissions from the transport, residential, and industrial sectors. Apar...