The global nanophotonics market is anticipated to grow significantly over the forecast period. Nanophotonics emerged from nanotechnology, photonics, and optoelectronics; the technology provides high thermal resistance, energy efficiency, and longer operational life. As a result, it has been gaining acceptance from companies, which is expected to drive the market.
Increasing investment in end-use industries including consumer electronics, telecommunications, and solar power conversion systems is also expected to fuel market growth over the next few years. However, high research and development costs coupled with the high cost of raw materials as well as equipment is expected to restrain the industry from realizing its full potential. In order the overcome this barrier, prices need to be lowered, and standardization needs to be established for filing patents.
Nanophotonic products include Light Emitting Diodes (LEDs), Organic LEDs (OLEDs), near field optics, photovoltaic cells, optical switches, optical amplifiers, and holographic memory. These products are the components used in manufacturing products for end-use industries. LEDs are expected to gain market share as a result of a wide range of application areas of high-intensity LEDs. Nanophotonic OLEDs include active matrix and passive matrix OLEDs, referred to as AMOLED and PMOLED, of which the former is expected to account for a larger share. Applications include entertainment, consumer electronics, indicators and signs, lighting, telecommunication, and non-visual applications. Applications are based upon the product under consideration; for example, LED applications include indicators and signs, lighting, and non-visual applications among others, while nanophotonic OLED applications are telecommunication, entertainment, etc.
Nanonophotonic ingredients include photonic crystals, nanotubes, plasmonics, nanoribbons, and quantum dots, which was the largest market segment in 2012. Plasmonics is expected to witness the fastest growth rate over the forecast period, on account of its potential in energy-based products such as solar cells. Asia Pacific is expected to remain the largest market over the next few years and accounted for over 70% of the overall market share in 2012. Major participants of the nanophotonics industry include Cree Inc., Philips Lumileds Lighting Company, Schott, Nichia Corp., Epistar Corporation, Sharp, and SMD LED among others.
Our Nanophotonics market research study takes a closer look at the nanophotonics industry, providing a holistic perspective on market dynamics, trends, supply, and demand. Our report deep-dives into the market and segments it on multiple levels and providing key insights on a macro as well as micro-level. The study aims at providing granular information, regarding estimates and forecasts for key product segments including LEDs, OLEDs, near field optics, photovoltaic cells, optical amplifiers, optical switches, and holographic memory. Application segments include entertainment, consumer electronics, indicators and signs, lighting, telecommunication, and non-visual applications. The report also provides estimates for key nanophotonics ingredients including photonic crystals, nanotubes, nanoribbons, plasmonics, and quantum dots, along with yearly forecast up to 2020. The report also provides the same level of information for key regional markets.
The research report analyzes various factors which have been driving and inhibiting the global nanophotonics market in the past. In addition, the research report analyzes the impact of each driver and restraint on the market growth based on which the market is forecasted. The report also showcases the opportunities available in the market which may act as future drivers for the market.
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The ongoing COVID-19 outbreak has adversely affected the display industry with manufacturing operations temporarily suspended across major manufacturing hubs, leading to a substantial slowdown in the production. Major manufacturers including Samsung, LG Display, and Xiaomi among others have suspended their manufacturing operations in China, India, South Korea, and European countries. In addition to having an impact on the production, the ongoing pandemic has taken a toll on the consumer demand for display integrated devices, likely exacerbated by the lockdown imposed across major countries. Uncertainty regarding the possible length of lockdown makes it difficult to anticipate how and when a resurgence in the display industry will occur. On the flip side, increased demand for displays in medical equipment including ventilators and respirators is expected to keep the demand for displays afloat in the coming months. The report will account for Covid19 as a key market contributor.