Vancouver, British Columbia, March 24, 2021 (GLOBE NEWSWIRE) -- The global Photonic Crystals Market is forecasted to be worth USD 99.26 Billion by 2027, according to a current analysis by Emergen Research. The increasing demand for photonic crystals in quantum engineering solutions and optoelectronics is expected to boost the market growth over the forecast timeframe. Besides, the rising demand for next-generation QD (Quantum Dots) LED with the integration of photonic crystals is anticipated to further augment the market growth. With low QD use, photonic crystals help to produce high-intensity QD-LED, hence reducing the cost and limited amount of cadmium, thus creating a more eco-sustainable and efficient QD-LED product.
To offer brighter and more effective laptops, tablets, and smartphone screens, manufacturing companies concentrate on mixing QD and photonic crystals and improving LED illumination. Moreover, the increasing implementation of photonic crystals in optical fiber connections to reduce connectivity problems is anticipated to drive the market shortly.
However, Increasing the prices of raw materials and the availability of affordable alternatives is forecasted to hamper the market growth to a certain extent over the forecast timeframe.
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Key Highlights From The Report
- In February 2018, TDK Corporation acquired Chirp Microsystems, Inc. The deal will speed up the sensor and actuator business of TDK, offering a broad variety of sensor devices, comprising friction, temperature, high magnetic sensors, as its sensor business is expanding.
- In the photonic crystal market, the LEDs Display segment is expected to witness significant growth. Due to the expanded use of solar power over coal and oil in various industries, solar and PV cells are expected to expand steadily in the forecasted period.
- The aerospace & defense sector is expected to witness robust growth over the forecast timeframe due to image sensors' widespread usage for image sensing and navigation and optical fibers for improved communication.
- The North American region is expected to experience substantial growth as the emergence of numerous innovative technologies has diversified the application scope of the commodities market and has a favorable impact on industry growth. The recent surge in the aerospace and defense industries is anticipated to further stimulate market growth in the region.
- 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 on the basis of 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
- UK
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
- North America
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