Photonic Sensors and Detection Market to reach US$ 35 billion by 2023

Photonic sensors are devices that sense light and release electrical pulses. Due to properties such as distributed sensing and resistance to electromagnetic interference, photonic sensors are used in several applications such as detecting biological hazards, structural flaws detection, and homeland security and mitigate security threats with the help of wireless systems integrated within photonic sensors.
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Market Size & Forecast
Global photonic sensors and detection market is anticipated to reach US$ 35 billion in 2023 witnessing a compound annual growth rate of 16% over the period 2016-2023
The Bio-photonic sensors segment is anticipated to be the most attractive segment, witnessing a CAGR of 9.9% over the period 2015-2023 owing to the increased use in homeland security, military applications such as chemical and biological agent detection, bio-warfare defense, field intelligence and explosives detection, however fiber optic segment accounted for highest market share in 2015.
North-America is anticipated to be the largest market for photonic sensors and detections and is estimated to account 26% of the total market share by 2023. Asia-Pacific market is anticipated to witness a compound annual growth rate of 23% over the forecast period i.e. 2016-2023. Asia Pacific is expected to be the prominent region for the photonic sensors market by 2023 due to emerging economies of the countries such as India and China.

Market Segmentation
Demand Analysis By Type
On the basis of type of photonic sensors, the market can be categorised in to following segments:-
Fiber optic sensors
Bragg Grating Sensors (FBG SENSORS)
Distributed Sensors
Quasi Distributed Sensors
Wavelength Division Multiplexing (WDM)
Time Division Multiplexing (TDM)
Point Sensors.
Image sensors
Charge-Coupled Devices (CCD)
Complementary Metal Oxide Semiconductors (CMOS)
Position-Sensitive Detectors (PSD)
Photoelectric Sensors.
Bio-photonic sensors
Intrinsic bio-photonic sensors
extrinsic bio-photonic sensors
By Region
Global Photonic Sensors and Detection Market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
Western and Eastern Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth & Opportunity Analysis
Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis
Middle East and Africa(GCC, North Africa, South Africa and Rest of Middle East and Africa)
Growth Drivers and Challenges
Need for enhanced safety and security solutions, better alternative for conventional technology and rise in wireless sensing technology are some of the major factors that are strengthening the growth of the market.
Technological advanced sensors such as illumination sensors, LED flashes are expected to play a key role in adding new value and functions to next-generation smart home and smart devices this will foster the growth of photonic sensor market.

Contact Key extracts from the Table of Content of Photonic Sensors and Detection Market 2016-2023 report:
Photonic Sensors and Detection Market Size and Forecast, 2016-2023
Photonic Sensors and Detection Market CAGR for the Period 2016-2023
Photonic Sensors and Detection Market Y-O-Y for the Period 2016-2023
Photonic Sensors and Detection Market Demand & Supply Analysis
Photonic Sensors and Detection Market Investment Attractiveness
Photonic Sensors and Detection Market BPS Analysis
Photonic Sensors and Detection Market Dynamics – Trends, Drivers, Challenges, and Opportunities
Photonic Sensors and Detection Market Competitive Landscape Analysis
Photonic Sensors and Detection Market Investment Proposition, by Geography

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