Global Nanophotonics Market 2016-2020
Nanophotonics is the study of light behavior on a nanometer level (10⁻⁹ of a meter). Nanophotonic components are devices that interact with light-emitting devices at the nanoscale level. Photonics refers to light-emitting devices and can otherwise be known as opto-electronics. Examples of nanophotonic components include optical fibers, optical switches, LEDs, optical amplifiers, PV cells, and holographic memory. The use of nanophotonic technology in these devices is relatively new.
Technavio’s analysts forecast the global nanophotonics market to grow at a CAGR of 47.72% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global nanophotonics market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of the above-mentioned nanophotonic components.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Nanophotonics Market 2016-2020
Technavio recognizes the following companies as the key players in the global nanophotonics market: Blue Nano, BuckyUSA, Carbon Solutions, Cambrios Technologies, Catalytic Materials, Cnano Technology, Cree, LG Display, Materials and Electrochemical Research, Nanocs, Nanocyl, Nanoco Technologies, nanoPHAB, Nanosys, Nanostructured & Amorphous Materials, Novarials, Novaled, OSRAM Opto Semiconductors, Philips Lumileds Lighting, QD Vision, Quantum Materials, Samsung SDI, TCL Display Technology, and Universal Display.
Commenting on the report, an analyst from Technavio’s team said: “One of latest trends in the market is growing complexity of ICs. Rapid technological developments in consumer electronic devices, healthcare equipment, and telecommunication equipment are leading to high level of functional integration. These devices are increasingly used as multi-functional terminals that offer a wide range of new applications on a single platform. This has resulted in increased demand for ICs and electronic systems with greater functionality and performance, reduced size, and low power consumption. As a result, chip manufacturers are manufacturing highly sophisticated ICs that combine all the necessary electronic components into a single microchip, which contains various digital, analog, and radio frequency functions.”
According to the report, one of the primary drivers in the market is focus on increasing solar power capacity. The depletion of non-renewable sources of energy such as coal, petroleum, and natural gas is driving the adoption of renewable sources of energy such as wind and solar energy to produce electricity. Several countries across the globe are focusing on increasing the solar power capacity. The global solar PV installation reached 58 GW in 2015 and is expected to grow at a CAGR of 18.87% during the forecast period. In 2015, APAC was the fastest growing region, accounting for more than 55% of the global solar PV installation.
Further, the report states that one major challenge in the market is high cost of production of quantum dots. Currently, the cost of production of quantum dots is between $3,000 per gram and $8,000 per gram, which varies on the basis of performance and concentration. The solvent, which is mainly octadecene, used in quantum dot synthesis account for about 90% costs of raw material. In addition, the low adoption of this technology is restricting the vendors to increase the production capacity. However, the vendors are trying to reduce the production cost by adopting new processing technology and increasing production capacity. For instance, in 2011, Quantum Material developed automated process using microreactor technology instead of batch processing technique to increase the yield of quantum dots per cycle. Vendors in the market are also focusing on increasing the production capacity of quantum dots to counter this challenge. The cost of quantum dots per gram will decline because of the increase in the production capacity by vendors. The increase in production capacity will help vendors achieve economies of scale, thereby reducing the total cost of production.
Blue Nano, BuckyUSA, Carbon Solutions, Cambrios Technologies, Catalytic Materials, Cnano Technology, Cree, LG Display, Materials and Electrochemical Research, Nanocs, Nanocyl, Nanoco Technologies, nanoPHAB, Nanosys, Nanostructured & Amorphous Materials, Novarials, Novaled, OSRAM Opto Semiconductors, Philips Lumileds Lighting, QD Vision, Quantum Materials, Samsung SDI, TCL Display Technology, Universal Display.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook