The overall Nanophotonic Equipment Market revenue is valued at $471.28 million in the year 2017 and is anticipated to grow at a CAGR of 21.23% from 2018-2023. The rising demand for LED, OLED types in consumer electronics and automotive industries are expected to drive the market.
What is Nanophotonic Equipment Market?
Nanophotonics refers to the application of the photonics at nanoscale dimensions, where the field enhancement effects the result in different optical phenomena contributing new functionalities to photonic devices. Photonics coupled with the nanotechnology and ever increasing computing power have tremendous possibilities in all the industry verticals.
What are the major applications for Nanophotonic Equipment Market?
The major applications of Nanophotonic equipment includes LED, OLED, near field optics, PV cells and optical components. The LED nanophotonics is divided into different types like high, flashing LED, UV LED and alphanumeric LED. UV LEDs have different applications such as ink jet, small area point by point curving and also in dental applications. With the improvements of the lifetime of the LED through utilization of the nanophotonics the market is expected to grow in near future.
Market Research and Market Trends of Nanophotonic Equipment Market:
- The present nanophotonics equipment’s are available with the combination of three major sciences such as photonics, nanotechnology and optoelectronics. Many companies are planning in up gradation of the photonics and optoelectronics with nanotechnology.. This up gradation into nanophotonics is expected to grow the applications of nanophotonics in electronics industry.
- The increasing applications of nanophotonics brings the new capabilities in the instrumentation to nanoscale. Chemical and biomedical sensing, information and communication technologies are expected to increase their efficiency in the operations by using nanophotonics. Equipments with new capabilities are increasing the usage of nanophotonics in different industries.
- The cost associated in using existing technologies is low when compared to the photonics. But the improved efficiency in operations in different industries such as chemical and biomedical sensing are helping the nanophotonic market to grow.
- In recent years the introduction of the ultrathin nanomaterials such as atomically thin transition metal dichalcogenides, which are used in optical sensors with low sensitivity can open many new possibilities in the detection of environmental gases.
Who are the Major Players in Nanophotonic Equipment Market?
The companies referred in the market research report includes NOVALED AG, OSRAM, Hitachi, NEC, IBM and more than 10 other companies.
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