Global Photonic Crystals Market is expected to reach $32.84 billion by 2027 growing at a CAGR of 12.5% during 2019 to 2027.
Some of the key players profiled in the Photonic Crystals Market include Corning Incorporated, Dk Photonics Technology Limited, Furukawa Electric Co., Ltd., Glophotonics, Gooch & Housego Plc, Hamamatsu Photonics K.K., IPG Photonics Corporation, Labsphere, Inc., Lockheed Martin Corporation, Luxtera, Inc., Microcontinuum, Inc., Mks Instruments, Inc., Neophotonics Corporation, Nkt Photonics A/S, Opalux Inc., Photonic Lattice, Inc., Technica Optical Components, Llc, and Teraxion.
Rise in demand of photonic crystals in light emitting diodes (LED), growth in research and development (R&D) activities, and novel properties of photonic crystals are the major factors propelling the market growth. However, factors such as costly photonic crystal-associated solutions, and challenges associated with the formulation of these crystals are hampering the market growth.
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Photonics is the technology that merges optics with electronics. Photonic crystals also known as photonic band gap materials are the periodic optical nanostructure affecting the motion of photons. It occurs in the nature in form of animal reflectors and structural coloration and in different forms with the range of applications. Photonic crystals can be used to control emission and propagation of light. These crystals received attention of both academic & industrial research, and are providing new tools for the manipulation of photons. This technology enables reflections of light in a certain frequency range, which is expected to escalate the demand for this technology shortly.
Based on type, the two-dimensional segment is going to have a lucrative growth during the forecast period owing to its dimensional cross-sectional design, comprising hexagonal lattice and square lattice. Due to its simple analysis coupled with the fast formulation of products, the domination of the segment is expected to be the constant. The difficulty lies in three-dimensional manufacturing that would further boost the market for two-dimensional photonic crystals.
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By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to the increase in research initiatives to examine the optical properties of photonic crystals and their uses in practical applications. Furthermore, growth in number of research groups and increase in government support are the major factors that boost the market growth. China, Japan, Korea, and Australia are the major countries in the Asia-Pacific photonic crystals market.
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• Optical Fiber
• Light Emitting Diode (LED) Display
• Image Sensor
• Solar & Photovoltaic (PV) Cell
• Laser and Super Continuum Sources
• Discrete & Integrated Optical Component
End Users Covered:
• Aerospace & Defense
• Life Sciences & Healthcare
• Research and Development (R&D)
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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– Market share analysis of the top industry players
– Strategic recommendations for the new entrants
– Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
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