0
2022
Photonic Sensors Market

Photonic Sensors Market

by Product (Fiber Optic Sensor, Image Sensor, Biophotonic Sensor, Others), by Technology (Fiber Optic Technology, Laser Technology, Biophotonic Technology), by Application (Industrial, Healthcare, Automotive And Transportation, Safety And Security, Others), : Global Opportunity Analysis and Industry Forecast, 2020-2030

✷  Report Code: A00487
Pages: 225
Mar 2022 | 18659 Views
Author(s) : Divyanshi M , Vineet K
Tables: 95
Charts: 60
  • Formats*:

  • Single User License, Five User
    License & Enterprise User License

  • Data Pack Excel License

  • It comes with the additional cost
    of $2500.00 contact sales.

 

Photonic Sensors Market Research, 2030

The global photonic sensors market size was valued at $20,185.8 million in 2020, and is projected to reach $94,267.9 million by 2030, growing at a CAGR of 16.8% from 2021 to 2030.

The photonics sensor market in significantly affected by the emergence of COVID-19, owing to the shutdown of manufacturing units globally. However, the market is expected to register significant growth in the coming years due to the adoption of smart technologies in the regions worldwide.

The photonic sensors market has gone through a drastic change based on the research that has been conducted in the photonic technology in the past. The photonic technology has advanced into a phase where it is being used in varied fields. The innovations in the field of fiber optics have spurred the development of photonic sensors. These developments have expanded the spectral range of sensors being used in several industries. Photonic sensors offer better sensing function and it is expected that this technology would give a high return on investment in the long run.

The photonic sensors is now focused on development of efficient products and it is projected that over the next few years, eco-friendly & energy saving photonic sensors would be developed and launched into the market. Need for enhanced safety & security solutions, better alternative for conventional technology, and rise in wireless sensing technology are some of the major factors that act as drivers for the photonic sensors market growth. Similarly, lack of industrial & technological standards, high initial investments, and lack of awareness can be considered as restraints for the photonics sensor market growth.

The biophotonic sensors have wide range of applications in the field of defense and medicine. They are used in the detection of biological & chemical agents, field intelligence, and biowarfare defense & detection of explosives in the defense applications. In the medical applications, they are used in vaccine & drug development, diagnostics, and therapeutics. Biophotonic sensors are also used in oil and natural gas exploration expeditions.

Photonic Sensors Market
By Product

Your browser does not support the canvas element.

Fiber optic sensor segment generated the highest revenue in 2020

Get more information on this report : Request Sample Pages

The optics and photonics technologies have made a huge impact on the global economy by developing devices and services that can be used in various industrial sectors. A research in laser technology which was initiated in the 1950s, led to several advancements in multiple sectors encompassing transportation, information technology, and defense. Laser technology has been the key in the development of sensors, which transformed the processes of several applications such as wielding, communication, surgery etc. In addition, the developments in the field of fiber optics spurred the development of photonic sensors, which expanded the usage of spectral range of sensors in several industries. These sensors accentuate the sensing functions, thereby demonstrating that the technology would give a high return on investment in the near future.

Photonic Sensors Market
By Technology

Your browser does not support the canvas element.

Laser technology segment is projected as one of the most lucrative segments

Get more information on this report : Request Sample Pages

The value chain of photonic sensors industry includes various stakeholders such as manufacturers of components, semiconductor manufacturers, original equipment manufacturers, and service providers. Each of these players shares a specific value at their point of operation, which, in turn, contributes toward the competitive value of the product. R&D activities, innovations, marketing strategies, and aesthetic concerns enhance overall value associated with end-deliverables by each of the market players.

SEGMENTATION

The photonic sensors market share is segmented on the basis of product, technology, application, and region. By product, the market is fragmented into fiber optic sensors, image sensors, biophotonic sensors, and others. By technology, the photonic sensor market is classified into fiber optic technology, laser technology, and biophotonic technology. By application, the market is divided into industrial, healthcare, automotive & transportation, safety & security, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Photonic Sensors Market
By Region

2030
North America 
Europe
Asia-Pacific
LAMEA

Asia-Pacific would exhibit the highest CAGR of 19.1% during 2021-2030

Get more information on this report : Request Sample Pages

The key players mentioned in the photonics sensor market analysis are BAE Systems, BK Technologies, General Dynamic Corporation, Hytera Communications, ICOM Inc, L3 Harris, Leonardo S.P.A., MCS Digital, Motorola Solutions, and Thales Group. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their market penetration.

COVID-19 Impact

COVID-19 pandemic has adversely impacted the photonics sensor market forecast as huge workforce of enterprises across the globe is working from home. This has led to decline in tourism, which, in turn, reduced the demand for defense tactical radio. Although the COVID-19 pandemic has forced field work of several major projects to halt temporarily, hence the market is expected to remain robust with cumulative number of shipments being marginally unaffected in the next three-year period from 2020. The market has been impacted by the COVID-19 outbreak. New projects throughout the world have been stalled, which, in turn, have affected the demand in several industries, including manufacturing, industrial, and retail. Although market players faced minimal impact on procuring raw materials, as time and shipping costs are still major concerns. Moreover, rise in investments in development of smart cities have gained importance during the pandemic. Subsequently, demand for photonics sensor is anticipated to gain momentum post-pandemic. Key market players focus on positioning their companies for a strong recovery post pandemic. Market players have meticulously planned to strengthen their supply chain to benefit from post-pandemic opportunities. They further focus on availing additional opportunities with expanded market usage of defense tactical radio technology, owing to price considerations and additional display offerings using micro-lenses. Hence, market players are anticipated to boost the market growth from various opportunities generated post-pandemic. Although COVID-19 had a major negative impact on growth of the market, the outbreak of COVID-19 is expected to provide numerous opportunities for the photonic sensors market forecast period. These trends include surge in digitization and rise in applications of semiconductors across the globe.

Top Impacting Factors

Significant factors that impact the photonic sensors market opportunity include need for enhanced safety & security solutions, better & enhanced alternatives for conventional technology, and rise in wireless sensing solution that are anticipated to have a positive impact on the photonic sensor market. Growth in number of smart industries and increased adoption of photonics technology in developing economies may act as a potential opportunity for the photonic sensors industry.

Need for enhanced safety and security solution

The photonic sensors offer enhanced safety and security measures, which are major concerns of the end users. Earlier manual systems were used for safety and security, which required continuous physical monitoring; however, these sensors allow round the clock self-operated surveillance, which provides end-users a sense of assurance. The automated system works in a highly efficient way by collecting and storing data on a central server and allows continuous monitoring. These factors encourage various industrial sectors to deploy these smart photonic sensors in their work processes, which is a driving factor for the photonic sensors market outlook.

High initial investment

Initially companies have to make high investments for installing photonic sensors. The cost of these devices is currently very high, as the market is not mature yet. However with the introduction of new technologies and continuous research, the impact of the initial investment factor would reduce in future.

Rise in wireless sensing technology

On the basis of technological advances taking place in the wireless sensing, the market is expected to grow significantly. The ability of these devices to provide remote sensing functions is one of the key factors whose impact on market is expected to continue to grow in future.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the photonic sensors market analysis from 2020 to 2030 to identify the prevailing photonic sensors market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the photonic sensors market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global photonic sensors market trends, key players, market segments, application areas, and market growth strategies.

Photonic Sensors Market Report Highlights

Aspects Details
By Product
  • Fiber Optic Sensor
  • Image Sensor
  • Biophotonic Sensor
  • Others
By Technology
  • Fiber Optic Technology
  • Laser Technology
  • Biophotonic Technology
By Application
  • Industrial
  • Healthcare
  • Automotive And Transportation
  • Safety And Security
  • Others
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (U.K., Germany, France, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Rest Of Asia Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market Players BAE Systems plc, BK Technologies Corporation, General Dynamics Corporation, Hytera Communications Corporation Ltd, ICOM Incorporation, L3 Harris, Leonardo S.R.L., MCS Digital, Motorola Solutions, omnisys - thales group
 

Loading Table Of Content...


 
 

According to insights of CXOs of leading companies, the photonics sensor market holds high potential for the defense industry. Current business scenario has witnessed an increase in demand for photonics technology, particularly in developing regions such as China and India. Companies in this industry have adopted various innovative techniques to provide customers with advanced and innovative product offerings.

The photonic sensors market has a come a long way with the developments in photonic technology. The market has been widely commercialized owing to the development of various photonic sensory devices such as fiber optic sensors, brag grating sensors, distributed sensors, point sensors, charge-coupled devices (CCD), complementary metal oxide semiconductors (CMOS) etc. Owing to the adaptability to various optical signals, photonic sensors can be designed in a large number of varieties. The photonic sensors market has therefore expanded its applicability in various fields and it is expected that the market would grow beyond conventional sensors in the next few years.

Development of eco-friendly and energy saving photonic sensor is one of the prime focus of photonic sensors industry. North America is the main hub for photonics sensor, as this market comprises of major market players. Thus, this region is among the few to adopt the latest technology launched in the market. North America leads the revenue share of the photonic sensor market followed by the European region. In Asia-Pacific, Japan has been the market leader in development of the photonic sensor, as many leading companies such as Hamamatsu, Nippon and Mitsubishi have headquarters in Japan. These companies have developed photonic sensors for several industrial applications. In fact, Japan has been one of the global market leaders in development of the photonic sensor along with the U.S. On the basis of these facts, it can be estimated that Asia-Pacific would be the fastest growing market for photonic sensors.

PURCHASE OPTIONS

Call or Email us

U.S.-Canada Toll-free: +1-800-792-5285
Int'l : +1-503-894-6022
Europe : + 44-845-528-1300
Email : help@alliedmarketresearch.com
 
FREQUENTLY ASKED QUESTIONS?

A. Increasing adoption of Biophotonics and laser technology in healthcare and industrial applications is expected to be the major trends in the world

A. Healthcare is the leading application of photonics sensors market

A. North America is the largest market for photonics sensors

A. By 2030, the photonics sensor market is expected to reach $94.27 billion.

A. Prominent companies in photonics sensor market such as BAE Systems, BK Technologies, General Dynamic Corporation, Hytera Communications, ICOM Inc, L3 Harris, Leonardo S.P.A., MCS Digital, Motorola Solutions, and Thales Group to hold major market share

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
RELATED TAGS

Purchase Full Report of
Photonic Sensors Market

Start reading instantly.
This Report and over 19,605+ more Reports, Available with Avenue Library. T&C*.

  • Online Only
  • $3,456
  • Online cloud access only
  • Restricted print, copy, paste & download
  • Read only
  • Free industry update
    (Within 180 days)
  • Free report update in next update cycle
    (Mar 2023 - Mar 2024)
  • Data Pack
  • $3,840
  • Restricted to one authorized user
  • One print only
  • Available in
    Excel
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Mar 2023 - Mar 2024)
  • Single User
  • $5,769
  • Restricted to one authorized user
  • One print only
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Mar 2023 - Mar 2024)
  • Five Users
  • $6,450
  • Limited to five authorized users
  • Print upto five copies
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Mar 2023 - Mar 2024)
  • Enterprise
    License/PDF

  • $10,995
  • Unlimited
    within
    company/enterprise
  • Available in Excel & PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Mar 2023 - Mar 2024)
  • Library
    Membership

  • $ 999
    Per User/ Per month/ Billed annually
  • Published Content
    E-access
  • Company Profiles
    E-access
  • Newly Added Content Access
  • 10 PDF
    Downloads
  • 5 Excel Data
    Pack Downloads
  • 250 Company Profiles PDF Downloads
  • Buy Now

*Taxes/Fees, if applicable will be added during checkout. All prices in USD

RELATED REPORTS
 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers