The Global Market for Photonic Sensors & Detectors is Projected to Reach US$17.4 Billion by 2020

Increasing Use in Harsh Operating Environments to Drive the Photonic Sensors & Detectors Market, According to a New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Photonic Sensors & Detectors. The global market for Photonic Sensors & Detectors is projected to reach US$17.4 billion by 2020, driven by the growing demand for robust and reliable sensing solutions in complex and hazardous work environments.

Utilizing optical signals as a sensing element for detecting of a range of physical, biological and chemical parameters, photonic sensors are finding strong demand in a range of end-use markets. Major end-use markets for photonic sensors include Industrial Process/Automation; Oil & Gas; Military, Aerospace & Homeland security; Energy & Infrastructure; Medical/Biomedical; Civil Engineering; and Transportation, among others. Exclusive properties of photonic sensors such as distributed sensing and EMI resistance are especially driving their adoption in commercial sensing applications. Also, photonic sensors are lighter, faster, more compact, and have superior resolution than traditional sensor devices, and yet have lower energy requirements, which makes these sensors ideal for use in a wide range of application areas. Photonic sensors also boast of superior detecting and sensing capabilities and provide higher return of investments in the long run. Additionally, their non-electrical way of sensing enables photonic sensors to work even in harsh environments such as in electromagnetic contaminated spaces or in explosion prone areas. 
Stringent safety regulations across all industrial sectors and strict implantation of laws that penalize companies that flout occupational safety guidelines, are presenting a strong case for the use of advanced sensing technologies such as photonic sensors and detectors. The need to ensure early detection of safety and security breaches such as structural flaws in infrastructure constructions, biological and chemical hazards, food and water contamination, breaches in industrial process such as radiation etc., and issue an early warning, will especially drive demand for photonic sensors and detectors.
Growth in the market is also expected to benefit from the growing investments in advanced and disruptive technologies. Post-recession, companies are stepping up their investments in new technologies that create economic value in terms reduced costs, improved productivity, increased profits and creation of new market opportunities. Cutting edge sensing technologies like photonic sensors are poised to benefit given their ability to automate knowledge worker tasks, and shorten time-to-market period by reducing the complexity and downtime related to variations in product quality. As the phenomenon of “Digital Darwinism” in manufacturing and industrial sectors gains momentum, photonic sensing is poised to benefit.
As stated by the new market research report on Photonic Sensors & Detectors, the United States represents the largest market worldwide. Asia-Pacific is forecast to emerge as the fastest growing market with dollar sales in the region waxing at CAGR of 22.4% over the analysis period. Growth in the region is driven by growing defense/military spending in China and India, and the industrial automation trend in these nations.

Major players in the market include Avago Technologies, Banner Engineering Corp., Banpil Photonics, Inc., Baumer Holdings AG, BaySpec, Inc., Brandywine Photonics LLC, FUJIFILM Holdings Corporation, Hamamatsu Photonics K.K., Honeywell International Inc., Mitsubishi Electric Corporation, OMRON Corporation, ON Semiconductor Corporation, Prime Photonics, LC, Samsung Electronics Co. Ltd., Smart Fibres Limited, and Toshiba Corporation, among others.

The research report titled “Photonic Sensors & Detectors: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in US$ for all major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific, (China, South Korea and Rest of Asia-Pacific) Latin America (Brazil and Rest of Latin America) and Rest of World. 

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