Photonic Sensors & Detectors Market to register a CAGR of 7.2%

Published On : 03/01/2022

Future Market Insights provides key insights on the global Photonic Sensors and Detectors market in a new report titled “Photonic Sensors and Detectors Market: Global Industry Analysis and Opportunity Assessment, 2016-2026” . The global photonic sensors and detectors market was valued at USD 22.5 billion in 2015 and is projected to register a CAGR of 7.2% over the forecast period (2016-2026).

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According to Future Market Insights, increasing investments in communications infrastructure and various government initiatives to implement fiber optic communications are the key factors driving the growth of the global photonic sensors and detectors market. Additionally, increasing adoption of industrial automation solutions to address global unskilled labor shortages and reduce operating costs, development and implementation of new technologies in medical devices are some of the other factors propelling the growth of the global photonic sensors and detectors market. .

segmentation highlight

The global photonic sensors and detectors market is segmented on the basis of sensor type (fiber optic sensors, biophotonic sensors, image sensors, others). detector type (phototransistor, single photon counting module, photodiode, photocell, etc.); and end-use sectors (defense and security, healthcare and healthcare, chemicals and petrochemicals, consumer electronics and entertainment, industrial manufacturing, aviation, research and development, others).

• The Fiber Optics Sensors segment is expected to account for a 37.7% market share by the end of 2016, while the Biophotonic Sensors segment is expected to become the second largest segment in terms of market share in 2016, accounting for a 29.9% value share . end of 2016
• In terms of sales volume, the single photon counting module segment is expected to register the highest CAGR of 10.5% during the forecast period. The phototransistor segment is estimated to witness a CAGR of 7.0% between 2016 and 2026.
• The aviation sector is expected to record high growth rate YoY from 2016 to 2026 and is expected to register a CAGR of 10.2% during this period, while the defense and security sector will account for the highest market value share of 26.3% by the end of the year. is expected. 2016

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Regional Market Forecast

On the basis of region, the global photonic sensors and detectors market is segmented into North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and MEA. The North American market accounted for the highest market value share in 2015 and was valued at US$7.4 billion in 2015. North America is estimated to account for a 32.7% value share of the global photonic sensors and detectors market by the end of 2016. The APEJ market is expected to be the most attractive market for the global photonic sensors and detectors market during the forecast period. The APEJ market was valued at USD 4.4 billion by the end of 2016 and is expected to grow to USD 11.4 billion by the end of 2026.

Supplier Insights

Some of the leading companies operating in the global Photonic Sensors and Detectors market are listed in the report. Key players covered in this report are Hamamatsu Photonics KK, OMRON Corporation, ON Semiconductor, SAMSUNG, Sony Corporation, KEYENCE CORPORATION, Pepperl+Fuchs GmbH, Prime Photonics, LC, Banpil Photonics, Inc. and NP Photonics, Inc. The global photonic sensors and detectors market is expanding its presence in emerging markets and diversifying its product portfolio to strengthen its market share and strengthen its customer base.

Global expansion of fiber optic communications drives market growthVarious government initiatives, increasing adoption of industrial automation solutions in the manufacturing industry, and increasing investment in fiber optic communications are the major drivers for the growth of the global photonic sensors and detectors market. The continuous investment and development of new technologies in medical devices and the rapid proliferation of the Internet of Things (IoT) are providing ample growth opportunities for major players in the global photonic sensors and detectors market.

Key players in the global photonic sensors and detectors market face major challenges affecting profitability by reducing the profit margins of image sensors. Additionally, the lengthy regulatory approvals and technology evaluation processes associated with new product developments may limit the growth of the global photonic sensors and detectors market during the forecast period.

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key segment 

By sensor type

• fiber optic sensor
• biophoton sensor
• image sensor
• Etc

By Detector Type

• phototransistor
• photodiode
• photocell
• Etc

as end use

• Defense and Security
• medical and health care
• Chemicals and petrochemicals
• industrial manufacturing
• Consumer Electronics and Entertainment
• flight
• research and development
• Etc

by region

• North America
• Latin America
• Western Europe
• Eastern Europe
• APEJ
• Japan

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Uma Rajagopal

Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.