Nanophotonics is a part of nanotechnology that analyzes the behavior of light on the nanometer scale and the interactions of nanometer-sized objects with light. Nanophotonics technology has a wide range of applications in photonics products ranging, such as high-efficiency solar cells, ultra-secure communications, personalized health monitoring, and others. Other significant factors, such as other products, including nanophotonics LEDs, nanophotonics PV cells, nanophotonics OLEDs, are fueling the market growth. Also, the demand for advanced electronics such as longer battery life, compressed size, greater data transmission speed, and high functionality can be achieved by implementing nanophotonics technology thereby, bolstering the global nanophotonics market. The global nanophotonics market is expected to grow at a CAGR of 10.3% during the forecast period.

Top Driver: Growing Demand for Solid-State Lighting and Popularity of OLEDs

Some of the prominent factors increasing the demand in the global nanophotonics market include growing demand for solid-state lighting, benefits associated such as working in a chemical-free environment, high thermal conductivity, increasing usage of LED in consumer goods, modulation rate, elevated ratio of power over performance, and government initiatives for lighting products that are highly energy-efficient. Besides, the growing popularity of OLEDs is expected to impact positively on the global nanophotonics market, as they consume less power, have a larger field view, crisper and brighter, and relatively more powerful than LEDs.

Plasmonics Segment is Expected to Drive the Market in the Future

On the basis of ingredients, the market is segmented as Photonic Crystals, Plasmonics, Nanotubes, Nanoribbons, Quantum Dots. The Plasmonics segment is expected to contribute for a large market share owing to its potential solar cells. On the basis of component, the market is segmented into LED, Organic Light Emitting Diodes (OLED), Near Field Optics (NFO), Photovoltaic Cells, Optical Amplifiers, Optical Switches, Holographic Data Storage System. The LED segment is expected to be the fastest growing segment. On the basis of application, the market is segmented into Automotive, Lightning, Non-visual, Others.

Rising Demand for Nanophotonics to Benefit Asia Pacific Market

The demand in the global market for nanophotonics is boosting in all regions, especially the Asia Pacific region. Asia Pacific region is anticipated to gain the highest shares in the forecast period. This owes to the broader consumer base and the vast population in the emerging economies of China and India. Furthermore, the North America region is driven by the U.S.’s developed country, wherein extensive investments have been made for the research and development activities about nanotechnology.

Players to Focus on Nanophotonics Market

The global market is expected to stay fragmented with the increase in the number of new entrants in the coming years. Veeco Instruments Inc, Add-Vision, Anders Electronics, Crystalfontz America Inc, Novaled AG, Samsung SDI, Covega Corporation, EPSON, Holland Electronics LLC, JDSU, LITE ARRAY, Newport Corporation among others could be at the forefront of the competition in the global market.

Veeco Instruments Inc.: In February 2017, Veeco Instruments Inc., a global leader of advanced thin film etch and deposition process equipment, and Ultratech, Inc., a leading supplier of lithography, laser-processing and inspection systems used to manufacture semiconductor devices and LEDs, today announced that they had signed a definitive agreement for Veeco Instruments Inc. to acquire Ultratech, Inc. The Boards of Directors of both Veeco and Ultratech have unanimously approved the transaction.

Cheil Industries: In August 2013, Cheil Industries, a Samsung affiliate that supplies electronic materials to display makers, and Samsung Electronics will co-own Germany-based OLED maker Novaled AG under a deal. Cheil Industries will acquire a majority 50 percent stake in Novaled, while Samsung Electronics will acquire 40 percent. The transaction values Novaled at €260 million ($347 million), €30 million of which will be paid if certain conditions are met.

Scope of the Report

By Components

• LED
• Organic Light Emitting Diodes (OLED)
• Near Field Optics (NFO)
• Photovoltaic Cells
• Optical Amplifiers
• Optical Switches
• Holographic Data Storage System

By Application

• Automotives
• Lightning
• Non-visual
• Others

By Ingredients

• Photonic Crystals
• Plasmonics
• Nanotubes
• Nanoribbons
• Quantum Dots

By Region

• North America
• Europe
• Asia Pacific
• LAMEA

Key Reasons to Purchase this Report

1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.