IMARC Group, a leading market research company, has recently releases report titled “Photonic Crystals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global photonic crystals market report, share, size, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the photonic crystals market?
The global photonic crystals market size reached US$ 54.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 89.1 Billion by 2028, exhibiting a growth rate (CAGR) of 8.13% during 2023-2028.
What is Photonic Crystals?
Photonic crystals, also known as photonic band gap materials, refer to a periodic optical nanostructure that can control light. They are widely available as one, two, and three-dimensional (1D, 2D, and 3D) photonic crystals and assist in offering unprecedented control over light behavior. They are utilized in optical fiber, light-emitting diodes (LEDs), image sensors, solar and photovoltaic (PV) cells, lasers, and discrete and integrated optical components. As a result, photonic crystals are employed in the industrial, aerospace, defense, and healthcare industries across the globe.
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What are the growth prospects and trends in the photonic crystals industry?
At present, the rising utilization of photonic crystals in LEDs and image sensors represents one of the key factors supporting the growth of the market. Besides this, the growing adoption of photonic crystals for trapping solar energy for its more effective usage is offering a positive market outlook.
Additionally, various benefits offered by photonic crystals, such as unusual optical dispersion and control over light behavior, is offering lucrative growth opportunities to industry investors. Apart from this, the increasing utilization of small-screen displays in the electronic industry is positively influencing the market.
Furthermore, the rising demand for green photonics due to increasing environmental concerns about reducing carbon dioxide (CO2) emissions is strengthening the market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
- 1-D Photonic Crystals
- 2-D Photonic Crystals
- 3-D Photonic Crystals
Breakup by Application:
- Optical Fiber
- LED
- Image Sensor
- Solar and PV Cell
- Laser
- Discrete and Integrated Optical Component
- Others
Breakup by End User:
- Industrial
- Aerospace and Defense
- Life Sciences and Healthcare
- Research and Development (R&D)
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Corning Incorporated, Furukawa Electric Co. Ltd., GLOphotonics SAS, Gooch & Housego, Hamamatsu Photonics K.K., IPG Photonics Corporation, NKT Photonics A/S, Opalux Inc., Palo Alto Research Center Incorporated (Xerox Corporation), Photonic Lattice Inc. (Photron) and Teledyne Technologies Incorporated.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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