Nanophotonics Market Annual Growth rate is 43%
Nanophotonics Market Size and Growth Rate:
The global nanophotonics market is expected to reach $66.03 billion by 2022, growing at a CAGR of 43%.
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Nanophotonics Market Overview:
Nanophotonic is the specific study of communication of all nanometre-scale objects with light and the presentation of light on the respective scale. It can be viewed as a blend of optoelectronics, nanotechnology, and photonics. Today, nanotechnology is the most favoured technology by research laboratories and companies across the world, owing to its extremely high and always growing development scenarios. It has also emerged from the likes of nanotechnology, photonics, and optoelectronics; wherein the technology provides high thermal resistance, energy efficiency, and longer operational life. As a result, it has been gaining fast acceptance from companies, which is expected to drive the market on a full scale.
Nanophotonics Market Drivers and Restraints:
The global nanophotonics market is also generating, due to ever increasing application of the technology in optical communication, organic light emitting diodes (OLED) and light emitting diodes (LED). Furthermore, the energy-efficient designs and sizeable optical bandwidth are obtainable primarily by nanophotonics, which is further aiding the growth of the global market.
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Nanophotonics Market Geographical Segment:
The demand in the global market for nanophotonics is escalating in all regions like North America, Latin America, Asia Pacific, and Middle East and Africa. However, the demand surges particularly in North America, Asia Pacific, and Europe. While Asia Pacific has a broader consumer base owing to the massively populated emerging economies of China and India, which makes it a huge market. The North American region is driven by the technologically developed country of the U.S., wherein significant investments from multiple sources have been made for the research and development activities relating to nanotechnology. The Asia Pacific also led the global market in 2014 and is also likely to maintain its dominance during the forecast period till 2024; meanwhile, the market in Europe is growing with the highest rate currently due to their growing adoption of technology.
Nanophotonics Market Key Players:
• Carbon Solutions
• Cambrios Technologies
• Catalytic Materials
• Cnano Technology
• Cree
• LG Display
• Nanocs
• Nanocyl
• Nanoco Technologies
• nanoPHAB
• Nanosys
• Nanostructured & Amorphous Materials
• OSRAM Opto Semiconductors
• Philips Lumileds Lighting
• QD Vision
• Quantum Materials
Nanophotonics Market Detailed segmentation
By Type:
• LED
• OLED
• Photovoltaic Cells
• Optical Amplifier
• Optical Switches
• Others
By Application:
• Consumer Electronics
• Material Science
• Non Visible Wavelength Instruments
• Non Visual Applications
• Indicators
• Other Applications
By Geographical Segmentation:
• North America
• Europe
• Southeast Asia
• Latin America
• Rest of world
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