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Market Research Report

Photonic Sensors and Detection Market : Global Demand Analysis & Opportunity Outlook 2023

Published On : 09:40 AM, 14th September, 2017 REP-ID-172 Category: ICT & Electronics

Global Photonic Sensors and Detection Market Overview

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. Photonic sensors allow better sensing and detecting functions and it is expected that this technology would give a high return on investment in the long run to the company’s manufacturing these sensors. The photonic industry is now focused on the development of eco-efficient products such as grating-coupled sensors, photonic crystal, and micro-resonator waveguide sensors that are anticipated to be developed and launched over the next few years. Technologically advanced products are cheaper, lighter and faster and with less energy usage and high functionality which is anticipated to impel the photonic sensors market over the period of forecast.

                     Photonic Sensors and Detection Market Demand & Growth Analysis

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. Further, Europe is projected to be a significant region due to notable technologies in oil & gas exploration in the market; however the Europe market is expected to project slow growth in upcoming 5-6 years, the slow growth of the region is attributed to the negative impact of Greek economy crises on European Union.

Photonics is expected to be an emerging technology, which is going to project positive impact on various industrial sectors such as manufacturing, biotechnology, healthcare, telecommunication, aerospace and environment.

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

Demand Analysis By Technology

Global photonic sensors and detection market can be segmented into following technologies:-

  • Fiber optic Technology
  • Laser Technology
  • Bio-photonic Technology

Analysis By End Use Industry

Photonic sensors find its wide range of application in different industries. On the basis of end use industry the market can be segmented into following categories:-

  • Military
  • Homeland security
  • Industrial process
  • Factory automation
  • Civil structure
  • Transportation
  • Biomedical
  • Wind Energy Turbines
  • Oil and Gas

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.

Lack of industrial and technological standards, high initial investments and lack of awareness related to use of photonic sensors may hamper the growth of market.

Key Players

  • Banner Engineering Corp.
  • Baumer
  • Hamamatsu Photonics K.K.
  • OMRON Corporation
  • ON Semiconductor
  • Banpil Photonics
  • Brandywine Photonics
  • Fiso Technologies
  • Honeywell International
  • Prime Photonics
  • Samsung Semiconductor
  • Smart Fibres

Scope and Context

Overview of the Parent Market

Analyst View

Segmentation

  • By Type Market Size & Y-O-Y Growth Analysis
  • By End-Use-Industry Market Size & Y-O-Y Growth Analysis
  • By Technology Market Size & Y-O-Y Growth Analysis

By Regions

Global Photonic Sensors and Detection market has been studied on countries and regions like:

  • North America (U.S., Canada) Market Size & Y-O-Y Growth Analysis
  • Latin America (Mexico, Brazil, Rest of Latin America) Market Size & Y-O-Y Growth Analysis
  • Western and Eastern Europe (Germany, Italy, Spain, France, U.K, Benelux, Hungary, Rest Of Western Europe, Russia Poland, Rest of Eastern Europe) Market Size & Y-O-Y Growth Analysis
  • Asia-Pacific (China, India, Singapore, Japan, Australia & New Zealand & Rest of Asia) Market Size & Y-O-Y Growth Analysis
  • Middle East and North Africa (MENA) Market Size & Y-O-Y Growth Analysis
  • Rest of World  Market Size & Y-O-Y Growth Analysis

Market Dynamics

Supply & Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment

 

              Key Answers Captured in Report?

Which geography would have better demand for product/services?
What are the strategies adopted by big players in the regional market?
Which country would see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
What is the current & expected market size in next five years?
What is the market feasibility for long term investment?
What opportunity the country would offer for existing and new players in the market?
What is risk involved for suppliers in the geography?
What factors would drive the demand for the product/service in near future?
What is the impact analysis of various factors in the market growth?
What are the recent trends in the regional market and how successful they are?

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