Market Synopsis:
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 2020 to 2027. The valuation of the market is predicted to reach a mark of USD 20 Bn by the end of 2027. 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.
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 2027.
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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 Insights:
The global photonic sensors market, by region, has been segmented into North America, Europe, Asia, and the Rest of the World (ROW). North America is expected to lead the growth of the global market. Rapid developments in sensors are likely to drive the growth of the market in the region. Furthermore, the presence of key players is projected to catalyze the expansion of the photonic sensors market in the region.
Europe is an important revenue pocket in the global photonic sensors market. It is prognosticated to secure the second spot globally over the next couple of years. Asia Pacific is forecasted to exhibit substantial growth in the foreseeable future. The vital country-level markets in the region expected to witness a steep rise in growth include Japan, Taiwan, and South Korea. The Rest of the World is poised to expand remarkably in the forthcoming years. Latin America is set to catapult the region on an upward trajectory.
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.)
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.
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Table of Contents
1 Executive Summary
2 Scope of The Report
2.1 Market Definition
2.2 Scope of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Market Structure
Continued…
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Market Synopsis: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 2020 to 2027.
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.Photonic sensors offer lighter, cheaper, smaller and faster products and components with great functionality using very little energy.
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 2027.Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/2644Market 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 Insights:The global photonic sensors market, by region, has been segmented into North America, Europe, Asia, and the Rest of the World (ROW).
Market Scenario:A device that senses light and converts it to electric signal is referred to photonic sensors.
The photonic sensors have an ability to provide accurate results, cost effective sensing solution and others.The study indicates that innovations in the fiber optics field have boosted the photonic sensors market.
It has been observed that there has been a considerable rise in wireless sensing technologies which is responsible for the growth in the photonic sensors market.
The study indicates that photonic sensors benefits by providing cheaper, lighter, smaller and faster products and components with great functionality with less energy.The study indicates that photonic industry is focusing on development of efficient products, eco-friendly and energy saving photonic sensors would be introduced to the market.
These photonic sensors would help in increasing the green footprint.
The global photonic sensors market has been segmented on the basis of type, technology, end-user and region.
Frank n Raf's this report focuses on The global photonics market was valued at over USD 600 billion in 2015 and in 2024 it is expected to reach USD 979.90 billion.
It has witnessed a radical change in the technology of photonics in the recent past, based on the research activities performed.
The introduction of electricity has given a boost to the conversion.
The advancement of optics reached the peak point of the use of electric bulbs and primeval lamps to the highly advanced lasers.The global photonics market has started developing products that are eco-friendly.
Some of the major factors driving the global photonics market include a better substitute for the conventional technology, increased requirement for higher security and safety solutions, and growth in the wireless technology.
On the contrary, lack of awareness among the consumers, lack of technological and industrial standards, and the requirement for huge initial capital investment negatively influenced by development of overall photonics market growth.Photonics is the most important technology for the advent of newest smart systems.
