According to the latest report by IMARC Group, titled “Global Photonic Crystals Market Size, Share, Industry Trends, Growth, Opportunity and Forecast 2022-2027“, the global photonic crystals market reached a value of US$ 49.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 81.9 Billion by 2027 exhibiting a CAGR of 8.20% during 2022-2027.
A photonic crystal is a dielectric optical nanostructure in which the refractive index changes periodically. It is majorly utilized to manipulate, control, and diffract light. It can also manipulate photons in the same way ionic lattices in semiconductors manipulate electrons. Presently, photonic crystals are available in three varying types, namely one, two, and three-dimensional (1D, 2D, and 3D). Owing to these properties, they find extensive applications across the information and technology (IT), healthcare, optics manufacturing, education and research, optical sensing energy, and several end-use industries.
|Base Year: 2021|
|Forecast Year: 2022-2027|
Photonic Crystals Market Trends and Drivers:
The market is primarily driven by the escalating demand for light-emitting diode (LED)-based products. In addition, the growing utilization of 2D photonic crystals in the commercial sector to interact with ultracold atoms and direct the light emission patterns and optical dispersion is further contributing to the market growth.
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Besides this, governing agencies of numerous countries are undertaking various initiatives to encourage the usage of green photonics and reduce the greenhouse gas (GHG) emissions caused by transport, land use, and agricultural activities. This, coupled with the rising deployment of photonic crystals for trapping solar energy, is creating a positive market outlook across the globe.
Furthermore, the rising investments in research and development (R&D) activities in the field of electrical engineering are expected to propel the market growth in the coming years.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Photonic Crystals Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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.
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The report has segmented the market on the basis of region, type, application and end user.
Breakup by Type:
- 1-D Photonic Crystals
- 2-D Photonic Crystals
- 3-D Photonic Crystals
Breakup by Application:
- Optical Fiber
- Image Sensor
- Solar and PV Cell
- Discrete and Integrated Optical Component
Breakup by End User:
- Aerospace and Defense
- Life Sciences and Healthcare
- Research and Development (R&D)
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
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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