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Nanophotonics Market Growing Demand and Opportunities by 2023


The global nanophotonics market is growing, due to increasing application of the technology in optical communication, organic light emitting diodes (OLED) and light emitting diodes (LED). Additionally, the energy-efficient designs and large optical bandwidth are offered by nanophotonics, which is further supporting the growth of the global market.

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Image result for NanophotonicsThe reduction in manufacturing cost with the use of nanophotonics is one of the major factors providing ample opportunities for the global market. The high cost of raw materials, difficulty with large scale production and limited commercialization are some of the major factors restraining the growth of the global market. Nanophotonics is the combination of optoelectronics, nanotechnology and photonics. Nanotechnology is the most preferred technology by research laboratories and companies, due to   its high development prospects. Optoelectronics and photonics have modernized the semiconductor and electronics industry. Among all the components, light emitting diode (LED) segment led the global market.

Asia-Pacific led the global nanophotonics market and is also expected to maintain its dominance during the forecast period; whereas, the market in Europe is growing with the highest rate. The European market is growing with the highest rate due to large consumer base for the nanophotonic devices in the region.

Some of the components of nanophotonics are quantum dots, plasmonics, nanotubes, crystals and nanoribbons. Among all the components, the plasmonics segment is expected to grow with the highest rate in the coming years, due to its potential in energy based products, such as solar cells.

Some of the competitors in the global nanophotonics market are Samsung SDI Co Ltd., Intel Corporation, International Business Machines Corporation, OSRAM Licht AG, Lumileds Holding B.V., and EPISTAR Corporation.

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