- The rising use of photonic crystal due to enhanced properties than the metal products and the increasing prevalence of small size displays across the electronics industry is driving the demand for the market
VANCOUVER, BC, Oct. 26, 2020 /PRNewswire/ -- The Global Photonic Crystals Market is forecast to be worth USD 99.26 Billion by 2027, according to the latest analysis by Emergen Research. Due to the growing use of photonic crystal as it offers improved properties than metal products, the Photonic Crystals Market is anticipated to expand significantly. Besides, the growing proliferation of small-size displays is anticipated to also stimulate market growth. The increasing demand for the display of photonic crystals in the LEDs due to less power usage is predicted to fuel the market growth in the following years.
However, it is anticipated that expensive photonic crystal-associated solutions will impede market growth over the forecasted period.
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Key Highlights From The Report
- In January 2019, Micron Technology, Inc., announced that it is exercising its right to acquire Intel's stake in the partnership of the firms, IM Flash Technologies, LLC. The acquisition of IM Flash will help Micron improve its research and development activities and optimize its 3D XPoint production plan.
- Due to the dimensionally cross-sectional architecture, like hexagonal lattice and cubic lattice, the Two-Dimensional Photonic segment is speculated to hold the largest market with a CAGR of 8.8% through the forecast duration.
- Due to its superior capabilities of controlling light flow and architecture versatility offering specific properties, the optical fiber segment is estimated to account for the largest market share through the forecast period.
- Owing to the rising deployment of LED displays, optical sensors, and solar power, the industrial segment is projected to dominate the market with a CAGR of 8.4% over the forecast timeframe.
- Due to the increasing research and development activities, the Asia Pacific region is estimated to lead the worldwide photonic crystal market. Moreover, increasing government spending in developing countries such as China, India, Japan, and Korea has expanded the use of commodities in the region, which is anticipated to boost market growth more shortly.
- Key participants include Corning Inc., Epistar Corp., Micron Technology, Inc., Opalux Inc., TDK Corporation, Rohm Co., Ltd., Luminus Devices Inc., ICx Photonics, Inc., NKT Photonics Inc., and Palo Alto Research Center, among others.
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Emergen Research has segmented the Global Photonic Crystals Market based on type, application, end-use, and region:
- Type Outlook (Revenue, USD Billion; 2017-2027)
- One-Dimensional Photonic
- Two-Dimensional Photonic
- Three-Dimensional Photonic
- Application Outlook (Revenue, USD Billion; 2017-2027)
- Image Sensors
- Solar & PV Cells
- LEDs Displays
- Optical Fibers
- Discrete & Integrated Optical Components Lasers
- Others
- End-Use Outlook (Revenue, USD Billion; 2017-2027)
- Manufacturing
- Healthcare
- Aerospace & Defense
- Industrial
- Others
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- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of MEA
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