The global nanophotonics market total market revenue (TMR) was valued at USD 14.3 billion in 2017 and is expected to reach at USD 196 billion by 2025 growing at a Compound annual growth rate (CAGR) of 38.9% from 2018 to 2025. Nanophotonics is the fusion of photonics and nanotechnology. Photonics is the science and technology of light generation, control, and handling. In physics, nanophotonics is defined as the nanoscale control of phonons, electrons, and photon interactions. Likewise, in engineering, nanophotonics is defined as the nanoscale integration of transmitters, emitters, signal processors, and others. Developments in quantum processing and information coupled with the growing demand for broadband-lightweight solar panels is anticipated to make the global nanophotonics market demanding in the near future.
Consumer electronics segment is estimated to witness significant growth
Major applications of nanophotonics mentioned in the report include indicators, material science, consumer electronics, non-visible wavelength instruments, and others. Moreover, based on materials the market has been divided as quantum dots, nanowires, photonic crystals, and nanotubes. In addition to this, the global nanophotonics market is further segmented by components that include optical fibers, optical switches, LEDs, PV cells, OLEDs, and holographic memory. The global nanophotonics market has been moreover segmented geographically into North America, Europe, Asia-Pacific, Middle East, and Africa and Latin America.
Over the last 8-10 years, a tremendous increase in the diversity and number have been witnessed in the application of photonics. This has resulted in the considerable upgradation in computational design tools and their accessibility. Moreover, the development of new nanofabrication techniques and adoption of new optical methods is expected to make the nanophotonics market demanding in the coming years. Moving forward, improvement in electronic and electromagnetic device simulation tools have been enormous over the last few years. Advancements in nanofabrication techniques, better accessibility of high-resolution patterning, and pattern transfer processes have produced microdisk, photonic crystal, and ring resonator devices with excellent performance. Further down, improvement in structural characterization tools such as nano-Auger, atomic force microscopy (AFM), scanning electron microscopes (SEMs), nano-secondary ion mass spectrometry (nano-SIMS), and transmission electron microscopes (TEM) has helped in the progress of nanophotonics technology. In recent years, nanophotonics products such as nanophotonics LEDs, nanophotonics photovoltaic cells, and nanophotonics OLEDs are significantly driving the growth of the market. In addition to this, as the nanophotonics technology offers high thermal resistance and longer operational life, hence this technology has been gaining a lot of popularity from various organizations, which is anticipated to drive the market. Increasing FTTx connections coupled with the growing demand for flexible and thin displays further creates a huge demand and high growth opportunity for the global nanophotonics market during the forecast period.
Asia-Pacific holds the largest market share by region
Among the other regions, the Asia-Pacific region holds the largest share of the global nanophotonics market followed by the U.S. and Europe. Rising economies like India and China and their huge consumer base, is augmenting the growth of the Asia-Pacific nanophotonics market. Moreover, in the North-America region, developed country like the U.S. and the massive investments made in the research and development field pertaining to nanotechnology, makes the nanophotonics market demanding in the North-America region. Additionally, the presence of a large number of giant tech companies in the United States and Canada and their focus towards increasing production capacity further creates a high growth opportunity for the North-America nanophotonics market.
However, a negative impact on the environment due to nanophotonic materials coupled with high cost of raw materials and difficulty in heat management are some factors estimated to hinder the global nanophotonics market growth in the near future.
Major Players in Global Nanophotonics Market
Some of the major players in the global nanophotonics market include LG Display, Carbon Solutions, Cambrios Technologies, QD Vision, Cnano Technology, TCL Display Technology, Blue Nano, Bucky USA, Nanoco Technologies, Philips LumiLEDs Lighting, Samsung SDI, Universal Display, IBM Corp, OSRAM Opto Semiconductors, and few others.
Global Nanophotonics Market: By Materials
Global Nanophotonics Market: By Application
Global Nanophotonics Market: By Components
Global Nanophotonics Market: By Geography