PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1164936
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1164936
Nanophotonics Market size was valued at USD 12,00.8 Million in 2021, expanding at a CAGR of 31.7% from 2022 to 2028.
Nanophotonics, a technology that offers excellent thermal resistance, energy efficiency, and extended operational life, emerged out of nanotechnology, photonics, and optoelectronics. Nanophotonic products include Light Emitting Diodes (LEDs), Organic LEDs (OLEDs), near-field optics, optical switches, photovoltaic cells, optical amplifiers, and holographic memory.
The nanophotonics market is growing as a result of the rising demand for optical fibers and other telecommunications equipment. A few of the key factors propelling the worldwide nanophotonics market are the acceptance of cloud services, the quick uptake of 5G, and the rise in participants in the global industry. In order to obtain a competitive edge, market participants are expanding their service offerings. The consumer electronics and healthcare industries demand is driving a robust expansion in the market. Other factors driving market growth in developing economies include digitalization and technological advancements in nanophotonics.
The consumer electronics market is being driven by an expansion of producers as a result of rising customer demand. During the coronavirus crisis, sales of cell phones, laptops, smart gadgets, PCs, tablets, wearable technology, etc. have increased significantly. Nanophotonics components, including LED, OLED, sensors, memory, and photovoltaic cells, among others, can be widely used. Because high-intensity LEDs may be used in so many different applications, it is anticipated that LEDs will increase in market share. Active matrix and passive matrix OLEDs, often known as AMOLED and PMOLED, are types of nanophotonic OLEDs. COVID-19 has had a negative impact on the market as the supply chain, and components shortages have hampered the growth of the nanophotonics market.
The Global Nanophotonics Market is segmented on the basis of Product Type, Application, and Region.
The market is split into six categories based on Product Type: sensors, LED and OLEDs, near-field optics, optical switches, and photovoltaic cells, among others. The LED and OLEDs segment dominates the market. Increasing demand from the electronics industry is mainly contributing to segment growth.
The market is segmented into eight categories based on application: consumer electronics, biotechnology, IT & telecommunication, and others. The consumer electronics segment dominates the market and is likely to maintain its dominance during the forecast period. This is mainly owing to an increase in the demand for components such as LEDs, and sensors, among others.
The worldwide market for Nanophotonics is highly fragmented with the presence of small and large market players. The companies in the market stress adopting aggressive strategies to develop new products and reach out to large consumer bases across multiple countries. Some of the primary techniques used by corporations to strengthen their reach and expand their market share include new product launches, partnerships, distribution network development, R&D spending, and mergers and acquisitions.
For instance, in March 2021, Hamamatsu Photonics introduced MiNYTM PL micro-LED PL, an inspection system. This system is capable of 100.0% inspection of micro-LEDs for next-generation displays.
The scope of this report covers the market by its major segments, which include as follows:
OSRAM Opto Semiconductors
Hamamatsu Photonics K.K.
STMicroelectronics
Novaled GmbH
Nanosys Inc.
QD Solar Inc.
Agiltron Inc.
Seoul Semiconductor Co., Ltd.
Jenoptik AG
Thorlabs, Inc.
ROHM CO., LTD.
OLEDWorks.
GLOBAL NANOPHOTONICS MARKET, BY PRODUCT TYPE
LED and OLEDs
Sensors
Photovoltaic cells
Near field optics
Optical switches
Others
GLOBAL NANOPHOTONICS MARKET, BY APPLICATION
Consumer electronics
Biotechnology
IT & telecommunication
Others
GLOBAL NANOPHOTONICS MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA