Global photonic sensors and Detectors Market Challenged to Reduce Profit Margins

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Apr 24, 2017, 18:21 ET

LONDON, April 24, 2017 /PRNewswire/ -- Photonics is the technology of generating and harnessing light and other forms of radiant energy whose quantum unit is the photon. The science of photonics includes light emission, transmission, deflection, amplification, and detection by optical components and instruments, lasers, and other light sources, fibre optics, electro-optical instrumentation, related hardware and electronics, and sophisticated systems. Photonic sensor is a device that senses light and converts to electricity. Photonics acts as a switch between the transmitter and receiver. A photonic detector counts the number of photons of light.

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Various government initiatives, increasing adoption of industrial automation solutions in the manufacturing industry, and increased investment in fiber optic communications are major drivers for the growth of the global photonic sensors and detectors market.

Market segmentation

The global photonic sensors and detectors market is segmented on the basis of Sensor Type (Fibre Optic Sensors, Biophotonic Sensors, Image Sensors, Others); Detector Type (Photo Transistors, Single Photon Counting Modules, Photodiodes, Photocells, Others); End use Sector (Defence & Security, Medical & Healthcare, Chemicals & Petrochemicals, Consumer Electronics & Entertainment, Industrial Manufacturing, Aviation, Research & Development, Others); and Region (North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, MEA).

Here are some predictions:

· The Biophotonic Sensors segment is projected to be most attractive segment in the global photonic sensors and detectors market, registering a CAGR of 9.7% between 2016 and 2026.

· The Photodiodes segment is expected to dominate the global photonic sensors and detectors market during the forecast period.

· The Single Photon Counting Modules segment is expected to exhibit a CAGR of 9.2% during the forecast period.

· Aviation End use Sector segment expected to register high Year-on-Year growth rates.

· The Medical & Healthcare segment is projected to be the most attractive segment in the global photonic sensors and detectors market during the forecast period.

· The North America photonic sensors and detectors market is expected to account for about 28% value share of the global photonic sensors and detectors market by 2026.

· The APEJ market is expected to register high Y-o-Y growth rates between 2016 and 2026 and witness a CAGR of 10.0% over the forecast period.

Leading market players are focusing on product innovation and focused sales through direct distribution to increase market share

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