Global sales of photonic sensors and detectors will increase from $6.3 billion in 2013, an estimated $7.3 billion in 2014 and will reach $15.2 billion in 2019, according to a new market study by analyst BCC Research. This growth equates to a compound annual growth rate of 15.9% over the five-year period.
The $6650 report Photonic Sensors and Detectors: Technologies and Global Markets also provides: analyses of market trends between 2013 and 2019, including applications, geographical splits, major manufacturers, and factors influencing projected demand. It gives details of different sensor types including: fiber optic, distributed, point, laser and biophotonic sensors.
BCC research analyst Pawan Kumar, who has authored various ICT market research reports, commented, “photonic sensors and detectors are enabling greater interaction in the machine-environment interface. These devices are revolutionizing imaging sensor technology, which is the low-mass and low-volume alternative for bulky conventional sensors.”
Sensing applications drive growth
Kumar added, “Most of the opportunities in the photonic sensor and detector market are application driven. A burgeoning of applications is projected to emerge chiefly due to the expanded utilization of sensors. The use of fiber optic sensors is gaining favor in the oil and gas exploration and civil engineering largely for security purposes. Biophotonic sensors will gain with new healthcare applications and ongoing research. However, high cost and lack of standards could restrain the global photonic sensors market.”
The report discusses the differentiation between photonic sensors and detectors to derive specific market estimation. It presents a comparative study between conventional and emerging sensors and the importance of the advances in photonic sensors and detectors. Emerging trends such as commercialization of photonic bio-chemical sensors and green photonics are also discussed, as are the strategies adopted by major players in this market.
Patent analysis provides a snapshot of technological trends in the global market over time as well as geographically— namely for the U.S., Europe and Japan. The global photonic sensor and detector market is segmented on the basis of type of photonic sensors as: fiber optic sensors, image sensors, biophotonic sensors and others. Photonic devices are segmented as: single photon counting modules, avalanche photodiodes, photodiodes, phototransistors, analog optoisolators and optocouplers and photocells.
