How Has The NanophotonicsMarket Size Evolved In Recent Years?
The nanophotonics market has seen considerable growth due to a variety of factors.
• The size of the nanophotonics market has witnessed a significant expansion in recent years. The market is predicted to rise from $33.2 billion in 2024 to $44.3 billion in 2025 at a compound annual growth rate (CAGR) of 33.4%.
The unprecedented growth in the last few years can be linked to the increasing demand for consumer electronics, the expansion of the healthcare sector, heightened data traffic, more autonomous vehicles, and economic growth.
What Is The Projected Growth Of The Nanophotonics Market?
The nanophotonics market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of nanophotonics is anticipated to exponentially increase in the coming years, expected to hit $122.12 billion by 2029 with a compound annual growth rate (CAGR) of 28.9%.
The predicted growth in this period can be credited to the expanding IT and telecommunications sector, a surge in the need for high-speed data transmission, an escalating defense sector, increased research and development, and a rise in disposable income. The forecast period is anticipated to witness major trends such as the incorporation of quantum technologies, nanophotonic sensors and detectors, integrated photonic circuits, environmental sensing, and industry collaboration.
What Are The Primary Growth Drivers In The Nanophotonics Market?
The nanophotonic market is expanding due to the growing demand for optical fibers and various other telecommunication equipment. Infusing nanoparticles into these optical fibers has resulted in enhanced features such as an improved refractive index, sensing, and computation. For instance, IEEE, an organization for electronic and electrical engineering professionals, reported that India has an optical fiber infrastructure spanning 28 lakh (100,000) kilometers. This is far less than the National Broadband Mission's target of deploying 50 lakh kilometers of optical fiber by 2024. The nation still needs to install more optical fibers to keep pace with its growing population, thereby increasing the demand for optical fibers and pushing the growth of the nanophotonic market.
What Is The Segmentation Of The Global Nanophotonics Market?
The nanophotonics market covered in this report is segmented –
1) By Product: LED, OLED, NFO, Photovoltaic cells, Optical Amplifier, Optical Switches, Holographic Data Storage System
2) By Material: Quantum Dots, Photonic Crystals, Plasmonic, Nanotubes, Nanoribbons
3) By Application: Telecommunications, Entertainment, Consumer Electronics, Indicator And Signs, Lighting, Non-Visual Applications, Other Applications
Subsegments:
1) By Light Emitting Diode (LED): Surface-Mounted Device (SMD) LEDs, Chip On Board (COB) LEDs, Miniature LEDs, High-Power LEDs
2) By Organic Light Emitting Diode (OLED): Active-Matrix OLED (AMOLED), Passive-Matrix OLED (PMOLED), Transparent OLEDs, Flexible OLEDs
3) By Nano-Photonic Film (NFO): Thin-Film NFOs, Metamaterial NFOs, Plasmonic NFOs
4) By Photovoltaic Cells: Silicon-Based Photovoltaic Cells, Thin-Film Photovoltaic Cells, Perovskite Photovoltaic Cells, Multi-Junction Photovoltaic Cells
5) By Optical Amplifier: Erbium-Doped Fiber Amplifier (EDFA), Raman Fiber Amplifier (RFA), Semiconductor Optical Amplifiers (SOA)
6) By Optical Switches: Electro-Optic Switches, Optomechanical Switches, Micro-Electro-Mechanical Systems (MEMS) Switches
7) By Holographic Data Storage System: Volume Holographic Storage, Surface Holographic Storage, Hybrid Holographic Storage Systems
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What Emerging Trends Are Shaping The Nanophotonics Market Landscape?
The rising popularity of cutting-edge nanophotonic products represents a significant trend in the nanophotonic market. Major participants in the field are striving to develop technologically superior products, introducing pioneering devices like photonic vibrometers which offer precise and comprehensive vibration analysis. Such a device harnesses the power of laser technology for high precision analysis of vibrations and displacements in various materials or structures, widely utilized in sectors like engineering, material science and structural health monitoring. A case in point: In July 2023, US-based Quantum Computing Inc. introduced the Quantum Photonic Vibrometer (QPV), an advanced device engineered for remote vibration detection, sensing and inspection. Touted as the first quantum-accelerated photonic vibrometer in the market, QPV offers substantial enhancements in terms of sensitivity, speed and resolution, with the ability to detect highly concealed and non-line-of-sight objects for the first time. It boasts of a wide range of applications in the military and commercial sectors alike, including material identification, advanced surveillance, structural integrity surveillance and preemptive industrial maintenance – all of these achievable safely from a distance with minimal energy and optical power requirements.
Who Are the Key Players in the Nanophotonics Market?
Major companies operating in the nanophotonics market include:
• Carbon Solutions Inc.
• Cambrios Technologies Corporation
• Cnano Technology
• Cree Inc.
• LG Display Co. Ltd.
• Nanocs Inc.
• Nanocyl S.A.
• Nanoco Technologies Ltd.
• nanoPHAB Inc.
• Nanosys Inc.
• Nanostructured & Amorphous Materials Inc.
• OSRAM Opto Semiconductors GmbH
• Philips Lumileds Lighting Company LLC
• QD Vision Inc.
• Quantum Materials Corp.
• TCL Display Technology Holdings Limited
• Sharp Corporation
• Novaled GmbH
• International Business Machines Corporation (IBM)
• Fujitsu Limited
• Altairnano
• Nano Magic LLC.
• Imina Technologies SA
• Kleindiek Inc.
• eSpin Technologies
• Advanced Nano Products Co. Ltd (ANP)
• Hamamatsu Photonics K.K.
• Agiltron Inc.
• Seoul Semiconductor Co. Ltd.
• Jenoptik AG
• Tech-X Corporation
• Advanced Microelectronic Center Aachen GmbH
• Nanophase Technologies Corporation
What are the Regional Insights into the Nanophotonics Market?
Asia-Pacific was the largest region in the nanophotonic market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the nanophotonics market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
