The Photonics In Europe report says that in 2005 photonic products achieved sales of €228 billion ($328 billion) worldwide, with the European industry accounting for €43.5 billion or 19%. Based on the study’s predicted annual growth rate of 7.6%, an international photonics market of €439 billion or $631 billion is forecast for 2015 – almost double the 2005 figure.
The report estimates there to be more than 5000 optics companies in Europe, with these businesses collectively spending an average of 9.7% of sales revenues on research and development. This compares with 5% for the rest of manufacturing industry. Lighting market share represents more than 15% of the total.