Future Market Insights’ report titled “Photonic Sensors & Detectors Market: Global Industry Analysis & Opportunity Assessment, 2016-2026” shows that the global photonic sensors and detectors market was valued at $22.5 Billion in 2015 and is expected to register a CAGR of 7.2% during the forecast period from 2016 to 2026. The research firm sees increasing investments in telecommunication infrastructure and various government initiatives to implement fibre optic communication as major factors driving the growth of the global photonic sensors and detectors market. Additionally, increasing adoption of industrial automation solutions to address the global shortage of unskilled labor and to reduce operating costs, and continuous 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.
- The global photonic sensors and detectors market is segmented based on Sensor Type (Fibre Optic Sensors, Biophotonic Sensors, Image Sensors, Others); Detector Type (Photo Transistors, Single Photon Counting Modules, Photodiodes, Photocells, Others); and End use Sector (Defense & Security, Medical & Healthcare, Chemicals & Petrochemicals, Consumer Electronics & Entertainment, Industrial Manufacturing, Aviation, Research & Development, and Others).
- The Fibre Optics Sensors segment is estimated to account for a market share of 37.7% by the end of 2016 while the Biophotonic Sensors segment is expected to be the second largest segment in terms of market share in 2016, accounting for 29.9% value share by the end of 2016
- In terms of sales volume, the Single Photon Counting Modules segment is expected to register the highest CAGR of 10.5% during the forecast period.
- The Photo Transistors segment is estimated to witness a CAGR of 7.0% between 2016 and 2026
- The Aviation segment is anticipated to register high Y-o-Y growth rates from 2016 to 2026 and is expected to register a CAGR of 10.2% during this period while the Defense & Security segment is estimated to account for the highest market value share of 26.3% by the end of 2016
- North America 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 32.7% value share of the global photonic sensors and detectors market by the end of 2016.
- The APEJ market is anticipated to be valued at US$ 4.4 Billion by the end of 2016 and this is expected to increase to US$ 11.4 Billion by the end of 2026.
- Key players in the market are Hamamatsu Photonics K.K, OMRON Corporation, ON Semiconductor, SAMSUNG, Sony Corporation, KEYENCE CORPORATION, Pepperl+Fuchs GmbH, Prime Photonics, LC, Banpil Photonics, Inc., and NP Photonics, Inc.
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