Photonic Sensors & Detectors Market is expected to register a CAGR of 7.2% during the forecast period 2016–2026

Future Market Insights delivers key insights on the global photonic sensors and detectors market in a new report titled “Photonic Sensors & Detectors Market: Global Industry Analysis & Opportunity Assessment, 2016-2026”. The global photonic sensors and detectors market was valued at US$ 22.5 Bn in 2015 and is expected to register a CAGR of 7.2% during the forecast period (2016–2026).

The report presents an in-depth analysis of key growth drivers and trends that are likely to impact the market in upcoming years. With the adoption of cloud computing and artificial intelligence, the technology industry is expected to witness a healthy growth over the forecast period. Increasing competitive pressure and advanced digital transformation in the area of data analytics and artificial intelligence are likely to improve the growth outlook for the Photonic Sensors & Detectors market in the upcoming decade.

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According to Future Market Insights, increasing investments in telecommunication infrastructure and various government initiatives to implement fibre optic communication are 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 labour 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.

“Leading players in the global photonic sensors and detectors market are faced with major challenges that force them to reduce profit margins from image sensors, thereby affecting profitability. Also, a lengthy regulatory approval and technology assessment process pertaining to new product development is likely to restrict growth of the global photonic sensors and detectors market during the forecast period.” – Analyst – Electronics and ICT, Future Market Insights

Segmentation highlights

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); and End use Sector (Defence & Security, Medical & Healthcare, Chemicals & Petrochemicals, Consumer Electronics & Entertainment, Industrial Manufacturing, Aviation, Research & Development, 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 Defence & Security segment is estimated to account for the highest market value share of 26.3% by the end of 2016

Regional market projections

The global photonic sensors and detectors market is segmented on the basis of region into North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and MEA. The North America market accounted for the highest market value share in 2015 and was valued at US$ 7.4 Bn 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 projected to be the most attractive market in the global photonic sensors and detectors market during the forecast period. The APEJ market is anticipated to be valued at US$ 4.4 Bn by the end of 2016 and this is expected to increase to US$ 11.4 Bn by the end of 2026.

Vendor insights

The report features some of the leading companies operating in the global photonic sensors and detectors market. Key players profiled in the report 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. Leading companies in the global photonic sensors and detectors market are expanding their presence in emerging markets and are diversifying their product portfolio to strengthen their market share and enhance their customer base.

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Why Buy FMI’s Report?

  • Extensive analysis on key trends and opportunities on the industries ongoing trends in different regions across the globe
  • All-inclusive assessment on recent technological advancements and forecast of the upcoming decade
  • A comparative analysis of leading players and emerging players in the Photonic Sensors & Detectors market
  • Reliable information on new product launches, organic and inorganic strategies, and more
  • Valuable insights on the impact of regulatory framework on the global Photonic Sensors & Detectors market

About FMI

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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