Green Photonics Enhancing Supply Chain Management
摘要
‘Green Photonics’ deals with a wide range of technologies like photovoltaic energy production, lighting and displays, communications, optical sensing applications for increased energy efficiency and reduction in environmental pollution, and laser processing of materials. The growth of the photonics market has been propelled by rising demand for photonics in various areas like aerospace, health care, and the environment. The use of laser technology for greenhouse gas monitoring, cost-effective cancer screening, water management, and growth of R&D activities related to photonics technology, which majorly deals with optical fibre communication, bio-photonics, and displays are also a driving force for the boom in the photonics supply chain. Integrating photonics with electronics and technological innovations has been a fascinating factor in transforming supply chain efficiency. Sustainable practices in photonics play a significant role in enhancing supply chain resilience. Through diversifying sources and minimizing dependency on non-renewable resources, companies can better identify and manage risk of supply chain disruptions and improve supply chain management. Funding and investment in photonic technology projects boost the photonics market. The prominent influence of the green photonics industry has led to organizations such as Optical Society of America (OSA) and Opto-Electronics Industry Development Association (OIDA) organizing seminars and representing special reports on the contribution of Green Photonics in the optoelectronic market. According to a special report of OIDA, the share of green Photonics is very encouraging ~ 19%, and by 2025, 3D sensing technologies, LiDAR, and AR/VR displays will increase by much higher compounded annual growth ratios (CAGRs). According to market predictions, by 2032, the global Photonics market will grow from $984 billion to $1643 billion at a CAGR of ~ 7%. These predictions represent green photonics as a driver for growth and employment, opening the scope of international collaborations among global leaders to take a quantum leap in the photonic industry.