The global market for core optics and photonics components now exceeds $300 billion and looks on course to surpass $400 billion, perhaps in the next two years. That is one of the principal findings of the SPIE Optics and Photonics Industry Report 2022. According to the biennial report, "The value of light-enabled products and services is estimated to be between $7 trillion and $10 trillion annually, which means the science and application of light represents roughly 11 percent of the world's economy. Accelerating photonics innovation will continue to drive economic growth and increase its share of the global GDP." First produced in 2012, the industry report attempts to quantify the complex optics and photonics market by identifying sales of core optics and photonics components worldwide.
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