Photonic crystals find major use in a variety of applications in optical fiber, LED, image sensor, solar & photovoltaic (PV) cell, laser, and discrete & integrated optical components, among other application fields.
According to a new market intelligence report by BIS Research, titled ‘Global Photonic Crystals Market- Analysis and Forecast (2017-2021)', the global photonic crystals market is expected to reach $53.6 billion by 2021, growing at a CAGR of 8.5% between 2017 and 2021. The overall growth in the photonic crystals market is fuelled by a number of factors such as the superior properties of photonic crystals, rising demand from varied end-use applications and increase in the demand of photonic crystals in LED. However, fabrication of 3D photonic crystals is hampering the growth of the photonic crystals market.
Browse more than 50 Data Tables and 85 Figures spread through 241 Pages and in-depth TOC on "Global Photonic Crystals Market"
The demand for photonic crystals is on a continuous rise and is expected to grow in the next five years because of the growing demand from varied end-use industries, and stringent regulations & standards initiated and mandated by the government of various countries.With the future development of 3D photonic crystals, they are more likely to replace the conventional materials as these crystals have permittivity modulation along all three directions.
End-use industries have increased their investment in research & development of the photonic crystals, thereby, driving the demand from the emerging economies such as China, Brazil, and India. Additionally, the rise in demand of photonic crystals in solar & photovoltaic (PV) cell is expected to create a pool of opportunities in the global photonic crystals market.
According to Sawan Sharma, an analyst at BIS Research, "Two-dimensional photonic crystals dominated the global photonic crystals market, thereby, registering a CAGR of 7.2% between 2017 and 2021". The two-dimensional photonic crystals cater to the demand of a number of application verticals which is the prime reason behind their significant market share. 2D photonic crystals have been broadly contemplated and investigated as the building blocks to realize functional devices for optical networking, waveguides, photonic crystal fibers, photonic cavities, and optoelectronics applications.
On the basis of application, "Optical fiber application segment dominated the global photonic crystals market". Additionally, in LED, the use of photonic crystals is increasing as photonic crystals can be utilized to improve the outside quantum effectiveness of the LED by framing a photonic band gap inside the LED chip, thereby, forcing the generated photons to exit the chip and/or shaping a proficient waveguide to couple the photons to the free space.
On the basis of end-use industry, "Industrial segment dominated the global photonic crystals market". This dominance is expected due to the increase in the usage of photonic crystals in telecommunication, electronics, laser, and solar energy based products, among others. Additionally, photonic crystal based laser products have gained attention due to their superior performance, high output power, and high optical quality.
This market report provides a thorough analysis of the recent trends that are influencing the global photonic crystals market, along with a comprehensive study of the future trends and developments. The report is a compilation of various segmentations of the market, including a market breakdown by photonic crystals type, application, end-use industry and different geographical regions. It also includes a separate segment on competitive insights and market insights, wherein, the revenue generated from photonic crystals is tracked to calculate the market size.
Some of the key players in the photonic crystals market are MKS INSTRUMENTS, INC., NKT Photonics A/S, Corning Incorporated, NeoPhotonics Corporation, GOOCH & HOUSEGO PLC, Furukawa Electric Co. Ltd, Hamamatsu Photonics K.K, Lockheed Martin Corporation, IPG Photonics Corporation and GLOphotonics. These companies provide a diversified product portfolio for specific needs and industrial applications.
This report is a meticulous compilation of research on more than 100 players in the photonic crystals ecosystem and draws upon the insights from in-depth interviews with the key opinion leaders of more than 50 leading companies, market participants, and vendors. The report also profiles around 18 companies which include MKS INSTRUMENTS, INC., NKT Photonics A/S, Corning Incorporated, NeoPhotonics Corporation, GOOCH & HOUSEGO PLC, Furukawa Electric Co. Ltd, and Hamamatsu Photonics K.K, among others.
Key questions answered in the report:
- What is the market size in terms of revenue from 2017-2021 for the global photonic crystals market?
- What is the market size in terms of revenue for type such as one-dimensional, two-dimensional and three dimensional, in the global photonic crystals market?
- What is the revenue generated by the different applications in the photonic crystals market?
- What is the market size in terms of revenue for applications such as optical fiber, LED, image sensor, solar & PV cell, laser, discrete and integrated optical components, and others?
- What is the market size in terms of revenue for end-use industries such as industrial, aerospace & defense, life sciences & healthcare and others (research & development)?
- Which type, application and end-use industry of the photonic crystals will dominate the photonic crystals market during the forecast period?
- What is the market size in terms of revenue generated by different applications with respect to geographical regions in the global photonic crystals market?
- What are the major factors which will be driving the photonic crystals market forward during the forecast period?
- What are the major opportunities and factors challenging the growth of the global photonic crystals market?
- What are the new strategies adopted by the existing market players to make a mark in the industry?
- Which are the existing key market players that have made a mark in the photonic crystals market?
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