Innovation in the field of fiber optics along with increasing spectral use of sensors across various industries is projected to optimistically influence the photonic sensors market over the next six years.
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Photonic sensors incorporate detection, transmission, emission and amplification of light by lasers, fiber optics, optical instruments electro-optical instrumentation and nano-photonic system. They offer cheaper, lighter, faster products and components with less energy usage and high functionality which is anticipated to impel the photonic sensors market.
Photonics has been identified as an emerging technology which impacts, underpins and extends across various industrial sectors such as manufacturing, biotechnology, healthcare, telecommunication, aerospace and environment.
Photonic sensors offer high rate on investment in long run along with better sensing and detecting functions. Additionally, high reliability and accuracy offered by these sensors is expected to proliferate market growth over the forecast period.
Rise in wireless sensing technology combined with enhanced safety and security solutions and advanced alternatives for conventional technology is projected to drive photonic sensors market growth. Advanced sensors such as illumination sensors, LED flashes and illumination sensors are expected to play a key role in adding new value and functions to next-generation smart home and smart devices. However, shortage of trained and skilled personals along with lack of awareness is expected to curb the photonic sensors market growth.
Photonic sensors market can be segregated by technology into biophotonic sensors, polarization, image and spectrally-based fiber optic sensors. The distributed fiber sensing technology is further classified into interferometric, brillouin scattering, and bragg ratings. The image sensors are further categorized into Charged Couple Devices (CCD), Position Sensitive Detectors (PSD), photoelectric sensors and Complementary Metal Oxide Semiconductors (CMOS). The market can be segmented on the basis of application into civil structures, transportation, military, industrial process, factory automation, biomedical and homeland security.
Asia Pacific is expected to be the prominent region for the photonic sensors market. Europe is projected to be a significant region due to notable technologies in oil & gas exploration in the market.
Key players in the photonic sensors market include Honeywell International Inc, Dongbu HiTek Co, Samsung Electronics Co. Ltd, Baumer Holdings AG, Mitsubishi Electric Corporation, Toshiba Corporation, Dongbu HiTek Co, OMRON Corporation and Smart Fibres Ltd. Several companies are undertaking product launches, acquisitions and expansions as the key measures to excel in the market.
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