Photonic Sensor Market Analysis, Market Size, Application, Analysis, Regional Outlook, Competitive Strategies, And Segment Forecasts, 2015 To 2022

The global photonic sensor market is poised for a quantum shift over the forecast period. This surge in demand can be attributed to factors such as innovation in the field of fiber optics and expanding the spectral use of sensor in varied industries. Photonic sensor technology incorporates detection, transmission, detection, amplification, and emission of light by optical instruments, lasers, components, fiber optics, nanophotonic systems along with electro-optical instrumentation. Photonic sensors offer faster, lighter, cheaper, and smaller components and products with high functionality along with less energy usage which is expected to elevate the photonic sensor market growth over the forecast period. Photonic sensors such as image sensors, illumination sensors, and LED flashes will be increasingly important to enable new functions and add new value to next-generation smart devices and smarthomes or cars.

The advanced photonic sensors/sources should provide either higher performance, easier integration into systems, or unprecedented novel functions. These advanced optical sources are expected to have multiwavelength light generation or accurate beam control capability. Novel approaches based on innovative photonic technologies with original concepts and designs will be preferentially considered.

Photonics has been recognized as an emerging technology that impacts, underpins, and extends across a varied range of industrial sectors including security, healthcare, telecommunication, manufacturing, environment, biotechnology, and aerospace. In these sectors, photonic sensing activity can be identified through the intelligent application of light replacing the traditional techniques such as lighting and signage for the use of incandescent lamps or in a novel context such as advanced photodynamic medical treatment.

These sensors offer better detecting and sensing functions and are projected to offer a high return on investment in the long run. Further, high accuracy and reliability are expected to accentuate the photonic sensor market growth. The urge for better alternatives for conventional technology, enhanced security, and safety solutions combined with increase in wireless sensing technology is projected to market growth over the next six years. Further, unique properties such as immunity to EMI and distributed sensing are projected to favor market demand.

Growing focus on factory automation in the manufacturing sector and heavy infrastructural developments in smart structures along with growing investments in disruptive and advanced technologies is projected to offer prominent opportunities for the photonic sensor market growth. However, lack of technological and industrial standards coupled with high initial investment is projected to hinder market demand. Additionally, lack of awareness and shortage of skilled and trained personals is expected to act as a challenge for market growth.

The photonic sensor market can be segmented on the basis of technology into spectrally-based fiber optic sensors, polarization, biophotonic sensors, and image sensors. The distributed fiber sensing technology is further categorized into bragg ratings, brillouin scattering, interferometric, and raman scattering. The image sensors are further sub-segmented into Complementary Metal Oxide Semiconductors (CMOS), Charged Couple Devices (CCD), Photoelectronic sensors, and Position sensitive detectors (PSD). Biophotonic sensors are projected to emerge in the field of research laboratory and new medical applications. The usage of fiber optics sensors is estimated to gain significance in the areas of civil engineering comprising fencing and border security along with oil and gas exploration. On the basis of application market can be classified into industrial process, civil structures, homeland security, transportation, biomedical, military, and factory automation. A varied range of applications is projected to rise owing to the increased usage of sensors worldwide. Asia Pacific is projected to be the key region for the photonic sensor market.

Major players in the photonic sensor market include A2 Photonic Sensors, Mitsubishi Electric Corporation, Smart Fibres Ltd, Honeywell International Inc., Baumer Holdings AG, OMRON Corporation, Toshiba Corporation, Samsung Electronics Co. Ltd and Dongbu HiTek Co. Ltd. Various companies are undertaking acquisitions, expansions, and product launches as notable measures to excel in the photonic sensor market. Industry participants are shifting their focus towards the development of eco-efficient products for better sustainability in the market. A2 photonic Sensors offer B-POP, S-POP, IceCube, and i-LDA in its photonic sensors portfolio.