Global nanophotonics market is expected to reach USD 66.03 billion in 2022, growing at a CAGR of 43% between 2017 and 2022.

Sarasota, FL -- (SBWire) -- 08/29/2018 --Zion Market Research has published a new report titled "Nanophotonics Market by Product Type (LED, OLED, NFO, Photovoltaic Cells, Optical Amplifier, Optical Switches, Holographic Data Storage System and Others) for Consumer Electronics, Material Science, Non Visible Wavelength Instruments, Non Visual Applications, Indicators and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2016-2022.'' According to the report, global nanophotonics market was valued at around USD 7.72 billion in 2016 and is expected to reach approximately USD 66.03 billion in 2022, growing at a CAGR of slightly above 43% between 2017 and 2022.

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Nanophotonics comes under nanophysics and is the unification of nanotechnology with photonics. Fundamentally, it is a combination of photonics and optoelectronics at nanoscale dimensions. Nanophotonics technology is enabling a wide range of photonics products ranging from high-efficiency solar cells to ultra-secure communications followed by personalized health monitoring and many more. Even though many nanophotonics products are still under research, many products such as nanophotonics PV cells, nanophotonics LEDs, nanophotonics OLEDs are considerably driving the market growth. The demand for advanced electronics such as longer battery life, compressed size, greater data transmission speed and high functionality can be achieved by implementing nanophotonics technology.

The nanophotonics market is driven significantly by nanophotonics LEDs which is having largest market share followed by UV LED. In order to achieve faster data transmission speed and higher bandwidth, many manufacturers are implementing nanophotonic technology by integrating photonics and electronics on the same chip. However, the high cost of raw materials, difficulty in maintaining precise current and heat management are restraining the market growth of nanophotonics. Moreover increasing demand for thin and flexible displays, improvements in technology and cost reduction has led new avenues in nanophotonics market.

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Nanophotonics market is bifurcated into product ingredients, applications and regional. Product wise the market is further segmented to LED, OLED, NFO, photovoltaic cells, optical amplifier, optical switches and holographic data storage system. Based on ingredients used in nanophotonics technology the market is segmented into photonic crystals, plasmonics, nanotubes, nanoribbons and quantum dots. Nanophotonics market owes wide range of applications in consumer electronics, material science, nonvisible wavelength instruments, nonvisual applications, indicators and others. Regionally the market is segmented into five regions namely regions North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. The biggest market for nanophotonics exists in North America followed by Europe. The low labor costs and raw materials investment in APAC has helped them to dominate the market to a greater extent.

Some of the major leading players of nanophotonics market are IBM, Samsung SDI, JDSU, Blue Nano, BuckyUSA, 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, TCL Display Technology, Universal Display and others.

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The report segments global Nanophotonics market as follows:

Nanophotonics Market: Product Segment Analysis

LED
OLED
NFO
Photovoltaic cells
Optical amplifier
Optical switches
Holographic data storage system

Nanophotonics Market: Ingredients Segment Analysis

Photonic crystals
Plasmonics nanotubes
Nanoribbons
Quantum dots

Nanophotonics Market: Applications Segment Analysis

Consumer electronics
Material science
Nonvisible wavelength instruments
Nonvisual applications
Indicators
Others