A new market research report, Nanophotonics--Advanced Technologies and Global Market (2009-2014), forecasts that the global nanophotonics market will be worth $3.6 billion by 2014, and Asia will account for nearly 74% of the total revenues.
Nanophotonics combines three major sciences: photonics, nanotechnology, and optoelectronics. While photonics and optoelectronics have revolutionized the electronics and semiconductors market, nanotechnology has the greatest potential for further improvement, and hence has emerged as the most sought-after technology by big companies and research laboratories. In spite of it being in the nascent stage, nanophotonics is expected to make it to the mainstream market owing to the higher power efficiency, thermal resistivity, and operational life.
The Asian market, the largest geographical segment, is expected to be worth $2.7 billion by 2014. The second largest segment is Europe, with a CAGR of 160.0%. However, market size of the U.S. is expected to increase at the highest CAGR of 161.1% from the year 2009 to 2014. The U.S. and Europe will assume further importance, the report says, because of the large consumer base for the nanophotonic devices. Extensive investment in research and development for the application of nanophotonics in increasing number of application areas has become the main driver for this market.
The LED market is the largest technological segment, and is also expected to reach $2.7 billion by 2014 at a CAGR of 91.3%. Optical amplifier and holographic memory device markets are estimated to record growth rate of 239% and 234.6% respectively from 2009 to 2014.