New research published today shows European photonics is growing at more than double the rate of global GDP – outperforming EU GDP and EU industrial production by three and five times, respectively. Present in many high-end, next-generation products, photonics technologies have proved to be long-term drivers of growth through their indispensable role in future markets.
The study delivered a glowing report on European photonics from 2015 to 2019: the industry grew at a CAGR of 7% per year and was worth €103 billion at the latest count in 2019
Generating Jobs, Solving Societal Challenges
Adding over 30,000 jobs to its workforce, the European photonics' industry outperformed the manufacturing sector across the entire European continent in terms of employment. With more than 390,000 employees – an annual growth rate of 2.1% - EU photonics grew twice as fast as European Manufacturing for the EU28 (around a 1% CAGR).
Revenue growth for this same period in Europe (7% per year) was three times that of the entire European GDP (2.3%/year) and almost five times the growth of the European industrial production (1.5%/year).
Photonics21 Vice President Giorgio Anania said: "The European photonics industry is thriving, and this study confirms that light technologies have a proven track record as a long-term driver of growth not only in Europe but also across the world.
"With a global growth rate of CAGR 7 %, photonics is growing faster than many other high-tech industries, for example, the IT industry (4.5%), Medtech (4.9%), and Microelectronics (4%).
Thierry Robin from Tematys said: "Our analysis shows that European photonics is currently seeing the transformation of its manufacturing processes with significant impact on jobs and skills."
"While it may not be immediately apparent, photonics is a key enabling technology present in every next-generation innovation, in almost every industry. Not only is photonics dramatically improving our next generation health diagnostic tools and manufacturing industries but also enabling green technologies that operate with non-invasive, clean, harmless particles of light."
We introduced the Department of Photonics to Bahçelievler Deneme Anatolian High School students
Visiting Hacı Ömer Tarman Anatolian High School from the Department of Photonics
EUROPEAN PHOTONICS INDUSTRY GROWING AT MORE THAN DOUBLE GLOBAL GDP RATE, NEW ANALYSIS FINDS
Balgat Uğur College 11th and 12th grade students visited Gazi Fotonik.
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