The global photonic sensors & detectors market is expected to grow from US$ 38.0 Billion in 2022 to US$ 83.5 Billion by 2032, with overall sales rising at a healthy CAGR of 8.2% throughout the forecast period (2022–2032).
The rising penetration of the 4.0 industrial revolution and increasing application in healthcare, defense & security, factory automation, oil & gas, and consumer electronics are some of the key factors driving demand for photonic sensors & detectors in the market.
Several technologies or technology-enabled environments like fiber optics and many others are helping to drive the fourth industrial revolution. As more businesses continue their journey toward digitalization, photonics is playing a crucial role in every sector, improving performance and holding huge potential.
When it comes to sensors for robotics and automation as well as instruments for the production processes, lasers and optics play a crucial role. They help businesses to increase agility and productivity, improve customer experience, and reduce costs.
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Growing Demand for Fiber Optic Sensors to Generate Significant Revenues in the Market:
Fiber optic sensors are used to sense some quantities like pressure, temperature, displacements, vibrations, rotations, or concentration of chemical species. Fibers have many uses in remote sensing because at remote locations they require no electrical power and they are small in size.
They perform in sensitive situations such as noise, high temperatures, high vibration, and humid and unstable environments. The sensors are easy to integrate into small areas and can be placed accurately wherever flexible fibers are required. A device like an optical time-domain reflectometer is used to determine the time delay of fiber optic sensors. Due to such factors, the demand for fiber optic sensors is expected to increase in the global market during the forecast period.
Key Companies Profiled:
- Honeywell International Inc.
- Banner Engineering Corp
- Mitsubishi Electric Corporation
- Baumer Holding AG
- BaySpec, Inc.
- Fiberoptic Systems, Inc.
- St. Jude Medical, Inc.
- Omron Corporation
- LAP Laser, LLC
- FISO Technologies Inc.
- Ibsen Photonics A/S
- Prime Photonics
- Smart Fibres Ltd
- Hamamatsu Photonics
- Fujifilm Holdings Corporation
These leading players are concentrating on introducing new and advanced photonic sensors and detectors to expand their customer base and gain a competitive edge in the market. Besides this, they are adopting strategies such as partnerships, collaborations, acquisitions, mergers, and strengthening of distribution channels to expand their global footprint.
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Global Photonic Sensors & Detectors Market Outlook by Category
By Product:
- Photonic Sensors
- Fiber Optic Sensors
- Biophotonic Sensors
- Image Sensors
- Others
- Photonic Detectors
- Photodiodes
- Phototransistors
- Single-Photon Counting Modules
- Others
By Application:
- Healthcare & Medical
- Defense & Security
- Industrial & Factory Automation
- Chemicals & Petrochemicals
- Oil & Gas
- Environmental Research & Development
- Consumer Electronics
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- The Middle East and Africa (MEA)
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