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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. The 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.
In 2014, 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. Additionally, huge investment in research and development due to the increasing number of application areas of nanophotonic is also supporting the growth of the European 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 in 2014. Among LED subcategories, the high beam LED segment dominated the market followed by ultraviolet (UV) LED in 2014. Optical amplifier is expected to grow with the highest rate among all the products, in the coming years. Among all the optical amplifiers, optical fiber amplifier is expected to grow with the highest rate followed by semiconductor optical amplifiers.
Nanophotonics is the study of communication of nanometer scale objects with light and the performance of light on the nanometer scale. Nanophotonics supports in fulfilling the system bandwidth demands and also supports the system to reduce the area and power of on-stack and off-stack interconnects. With the advancements in silicon nanophotonics, the photonic on-stack communication networks are becoming enhanced alternative for electrical networks. 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.
Global Nanophotonics Market Segmentation