Market Overview:
Photonic sensors offer lighter, cheaper, smaller and faster products and components with great functionality using very little energy. This is projected to have a favorable influence on the adoption of technology across different applications. These sensors are extensively used in various applications such as Lidar, Laser Induced Fluorescence (LIF), Ladar, calorimetry, spectroscopy, scintillation detection, biological fluorescence detection, etc. The growing popularity of these sensors as a cost-effective sensing solution is likely to drive the growth of the photonic sensors market over the assessment period.
The key focus is on the development of efficient products that are eco-friendly and energy saving for encouraging the reduction of carbon footprints on the environment. It has opened new avenues of growth opportunities and is anticipated to revolutionize the future of the photonic sensors market over 2022.
Competitive Dashboard:
Some of the key players profiled in the report are Oxsensis (UK), Prime Photonics (U.S.), Smart Fibres (UK), Intevac, Inc. (U.S.), Mitsubishi Electric Corporation (Japan), Toshiba Corporation (Japan), General Electric Company (U.S.), Samsung Electronics Co. Ltd. (South Korea), Banpil Photonics, Inc (U.S.), NP Photonics, Inc. (U.S.)
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As per Market Research Future (MFR)’s study, the global photonic sensors market is expected to exhibit tremendous potential and strike a CAGR of 15% during the forecast period 2016 to 2022. The valuation of the market is predicted to reach a mark of USD 20 Bn by the end of 2022. The developments and innovations associated with fiber optics are likely to boost the photonic sensors market over the next couple of years. In addition, the growth of wireless sensing technology is expected to catapult the photonic sensors market on the trajectory of growth.
Drivers and Restraints:
The analysis shows that innovations in the fiber optics field are expected to fuel the photonic sensors market over the review period. Apart from this, the need for improved safety and security solutions are also likely to drive the photonic sensors market. It has been noted that there has been a substantial rise in wireless sensing technologies, which is accountable for the growth in the photonic sensors market. Additionally, the photonics industry is focusing on the development of competent products. There is a noted development of eco-friendly and energy-saving photonic sensors that will be launched in the market in the near future. These photonic sensors are expected to help in growing the green footprint of companies.
The expansion and innovations associated with fiber optics are likely to boost the photonic sensors market over the next couple of years. In addition to this, the growth of wireless sensing technology is expected to catapult the photonic sensors market on the trajectory of growth.Photonic sensors offer low-priced, lighter, smaller, and faster products and components with improved functionality using very little energy. This is expected to have a promising influence on the deployment of technology across different applications. These sensors are extensively used in numerous applications such as Lidar, Ladar, Laser-Induced Fluorescence (LIF), scintillation detection, calorimetry, spectroscopy, biological fluorescence detection, among others. The rising popularity of these sensors as a cost-effective sensing solution is likely to fuel the growth of the photonic sensors market over the review period.
The primary focus is on the development of and energy-saving for encouraging the reduction of carbon footprints on the environment. It has paved way for new avenues of growth opportunities and is anticipated to develop the future of the photonic sensors market by 2022.
Market Segmentation:
By type, the global photonic sensors market has been segmented into fiber optic sensors, image sensors, bio photonic sensors, and others.
By technology, the photonic sensors market has been segmented into fiber optic technology, imaging technology, bio photonic technology, and others.
By end-user, the global photonic sensors market has been segmented into consumer electronics, oil & gas, defense, transport, energy, healthcare, industrial manufacturing, and others.
Regional Analysis:
The global photonic sensors market, by region, has been segmented into Europe, North America, Asia, and the Rest of the World (ROW). North America is estimated to lead the growth of the global market over the forecast period. Rapid technological developments in sensors is slated to drive the growth of the market in the region. Additionally, the presence of key players is touted to fuel the expansion of the photonic sensors market in the Laser-Induced.
Europe is a crucial revenue pocket in the global photonic sensors market and is prognosticated to secure the second largest market share globally over the forecast period. The Asia Pacific is forecasted to exhibit substantial growth in the foreseeable future.
The major country-level markets in the region expected to witness a steep rise in growth include China, India, Taiwan, Japan, and South Korea. Aisa Pacfic region is expected to offer favorable growth conditions and promising opportunities for the market to expand in the region over the review period. The Rest of the World is poised to grow remarkably in the foreseeable future. Latin America is set to propel the regional market growth on an upward trajectory.
Industry News:
In September 2018, Leti, a research institute of CEA Tech, has introduced REDFINCH consortium aimed at developing the next generation of miniaturized, portable optical sensors with photonic integrated circuits.
In November 2018, support has been extended under European Regional Development Fund to 12 partners from northwestern Europe who are building an efficient pilot production line for photonic chips.
In December 2018, a silicon photonics-based supplier of integrated 4D vision solutions, SiLC Technologies, Inc., has targeted range-extended, eye-safe LiDAR with the announcement of the launch of an integrated 1550nm FMCW LiDAR on a chip.
Table of Content:
1 MARKET INTRODUCTION
1.1 INTRODUCTION
1.2 SCOPE OF STUDY
1.2.1 RESEARCH OBJECTIVE
1.2.2 ASSUMPTIONS
1.2.3 LIMITATIONS
1.3 MARKET STRUCTURE
2 RESEARCH METHODOLOGY
2.1 RESEARCH NETWORK SOLUTION
2.2 PRIMARY RESEARCH
2.3 SECONDARY RESEARCH
2.4 FORECAST MODEL
2.4.1 MARKET DATA COLLECTION, ANALYSIS & FORECAST
2.4.2 MARKET SIZE ESTIMATION
3 MARKET DYNAMICS
Continued. . .
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List of Table:
TABLE 1 PHOTONIC SENSORS MARKET, BY TYPE
TABLE 2 PHOTONIC SENSORS MARKET, BY TECHNOLOGY
TABLE 3 PHOTONIC SENSORS MARKET, BY END-USER
TABLE 4 PHOTONIC SENSORS MARKET, BY REGIONS
TABLE 5 NORTH AMERICA PHOTONIC SENSORS MARKET, BY TYPE
TABLE 6 NORTH AMERICA PHOTONIC SENSORS MARKET, BY TECHNOLOGY
Continued. . .
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