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Global Expansion in Fibre Optic Communication likely to Fuel Photonic Sensors & Detectors Market Growth

10-30-2017 12:48 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Future Market Insights

/ PR Agency: Future Market Insights
Photonic sensor is a device that senses light and converts to electricity. Photonics acts as a switch between the transmitter and receiver. A photonic detector counts the number of photons of light.

Photonics is the technology of generating and harnessing light and other forms of radiant energy whose quantum unit is the photon. The science of photonics includes light emission, transmission, deflection, amplification, and detection by optical components and instruments, lasers, and other light sources, fibre optics, electro-optical instrumentation, related hardware and electronics, and sophisticated systems.

Various government initiatives, increasing adoption of industrial automation solutions in the manufacturing industry, and increased investment in fibre optic communications are major drivers for the growth of the global photonic sensors and detectors market. Continuous investment and development of new technologies in medical devices and a rapid proliferation of the Internet of Things (IoT) is creating ample growth opportunities for major players in the global photonic sensors and detectors market.

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Leading players in the global photonic sensors and detectors market are faced with major challenges that force them to reduce profit margins from image sensors, thereby affecting profitability.

The Biophotonic Sensors segment is projected to be most attractive segment in the global photonic sensors and detectors market, registering a CAGR of 9.7% between 2016 and 2026. The Fibre Optic Sensors segment accounted for the highest market share in 2015, and was valued at US$ 5.3 Bn in 2015.

The Aviation segment is expected to witness total incremental opportunity of US$ 1.9 Bn between 2016 and 2026. The Medical & Healthcare segment is projected to be the most attractive segment in the global photonic sensors and detectors market during the forecast period.

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The North America photonic sensors and detectors market is currently the largest market for photonic sensors and detectors and is expected to account for about 28% value share of the global photonic sensors and detectors market by 2026. The APEJ market is expected to register high Y-o-Y growth rates between 2016 and 2026 and witness a CAGR of 10.0% over the forecast period.

Some of the top companies identified across the global photonic sensors and detectors market value chain are Hamamatsu Photonics K.K, OMRON Corporation, ON Semiconductor, SAMSUNG, Sony Corporation, KEYENCE CORPORATION, Pepperl+Fuchs GmbH, Prime Photonics, LC, Banpil Photonics, Inc., and NP Photonics, Inc. Top companies are focussing on increasing their investments in technology R&D initiatives and are entering into strategic global alliances and partnerships to strengthen their position in the market.

About Us

Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.

FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.

FMI’s team of over 200 research analysts provides market intelligence at global, regional, and country level. Our analysts are committed to provide independent insights, relying on our cognitive defusion training module, which conditions them to look at data objectively and unbiasedly.


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