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Photonic Sensors Market Size, Industry Trends Report | 2031

Photonic Sensors Market

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Segments - by Product Types (Biophotonic Sensors, Fiber Optic Sensors, Image Sensors, and Others), End-users (Aerospace & Defense, Energy & Power, Healthcare, Manufacturing, Transportation, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

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Raksha Sharma

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Report Description

The global photonic sensors market size was USD 27.53 Billion in 2022 and is likely to reach USD 111.38 Billion by 2031, expanding at a CAGR of 16.8% during the forecast period, 2023–2031. The growth of the market is attributed to the increase in requirement for security and safety.

Photonic sensor technology includes transmission, detection, amplification, and light output by visual instruments, components, electro-optical devices, fiber optics, laser, and nano photonic systems. Photonic sensors offer fast, easy, cheap, and compact parts as well as efficient products with minimal power consumption. Photonic sensors such as light sensors, image sensors, and LED flashes to enable new functions and add value to next-generation smart devices, homes, and cars. Improved photonic sensors/sources provide high performance, easy integration into systems, or unprecedented fresh functions. These progressive optical sources are anticipated to produce multiwavelength light or precise beam control power. New approaches based on new photographic technology with original ideas and designs get special consideration.

Photonics has been known as an emerging technology that underpins, extends, and impacts across a different range of industrial sectors such as aerospace, biotechnology, environment, healthcare, manufacturing, security, and telecommunication. In these sectors, photonic sensing action can be recognized through the intelligent application of light substituting the traditional techniques such as lighting and signage for the usage of glowing lamps or in a fresh context such as progressive photodynamic medical treatment.

Market Trends, Drivers, Restraints, and Opportunities

Rapid industrialization along with the growing demand for enhanced safety and security solutions is anticipated to spur the growth of the market.
Increasing adoption of wireless sensing technology is estimated to propel the market growth.
The development of advanced photonic sensors with higher performance and multi-wavelength light generation capabilities can contribute to the market growth.
Lack of industrial and technological standards can hinder the growth of the market.
High initial investments and lack of awareness can hamper the market growth.
Growing number of smart industries and increasing adoption of photonics technology in developing economies are anticipated to create lucrative opportunities in the projected timeline.

Scope of the Report

The report on the global photonic sensors market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Photonic Sensors Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	Types (Biophotonic Sensors, Fiber Optic Sensors, Image Sensors, and Others) and End-users (Aerospace & Defense, Energy & Power, Healthcare, Manufacturing, Transportation, and Others)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	Banner Engineering Corp.; Baumer Holding AG; Datalogic S.p.A.; Omron Corporation; and Sick AG.

Photonic Sensors Market Segment Insights

Biophotonic sensors segment to expand at a robust CAGR

In terms of types, the market is divided into biophotonic sensors, fiber optic sensors, image sensors, and others. The biophotonic sensors segment is estimated to grow at a rapid pace in the projected timeline due to growing demand for biophotonic sensors in applications such as biomedical, homeland security, industrial process, and military. Biophotonic technology develops the sensing ideas to contain the detection of biological agents (toxins) and chemical as well as the observing of biological processes.

Energy & power segment to hold a significant market share

On the basis of end-users, the market is segregated into aerospace & defense, energy & power, healthcare, manufacturing, transportation, and others. The energy & power segment is anticipated to exhibit a high CAGR during the forecast period. Photonic sensors play a main part toward a green, sustainable future by helping control method and decrease polluting releases in a different of applications in the conservation, distribution, exploration, and generation of energy. Photonic sensors are specially used in three different applications concerning to the production of power and energy harvesting, specifically solar thermal & PV systems, the oil and gas production, and wind turbines.

Asia Pacific is anticipated to constitute a key market share

Based on regions, the market is segregated into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to constitute a considerable share of the market during the forecast period due to growing defense/military expenditure and the industrialized automation trend in the region. The rapid economic growth and increased usage of lasers for manufacturing are estimated to contributed to the market growth in region.

Segments

Types

Biophotonic Sensors
Fiber Optic Sensors
Image Sensors
Others

End-users

Aerospace & Defense
Energy & Power
Healthcare
Manufacturing
Transportation
Others

Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Players

Banner Engineering Corp.
Baumer Holding AG
Datalogic S.p.A.
Omron Corporation
Sick AG

Competitive Landscape

The key players competing in the photonic sensors market are Banner Engineering Corp.; Baumer Holding AG; Datalogic S.p.A.; Omron Corporation; and Sick AG.

In June 2018, Omron declared the manufacture of the second factory of OMRON (Shanghai) Co. Ltd., in the city of Shanghai, China, to rise up the ability of numerous types of control equipment to meet the demands for automation on plant floors in the country.

In May 2018, Hamamatsu Photonics announced the construction of a new factory at the main factory site to meet rising sales demand for its opto-semiconductor module products.

Photonic Sensors Market Keyplayers

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Photonic Sensors Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Photonic Sensors Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Photonic Sensors Market - Supply Chain
  4.5. Global Photonic Sensors Market Forecast
     4.5.1. Photonic Sensors Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Photonic Sensors Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Photonic Sensors Market Absolute $ Opportunity
5. Global Photonic Sensors Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Photonic Sensors Market Size and Volume Forecast by Types
     5.3.1. Biophotonic Sensors
     5.3.2. Fiber Optic Sensors
     5.3.3. Image Sensors
     5.3.4. Others
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Photonic Sensors Market Analysis and Forecast by End Users
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by End Users
     6.2.2. Y-o-Y Growth Projections by End Users
  6.3. Photonic Sensors Market Size and Volume Forecast by End Users
     6.3.1. Aerospace & Defense
     6.3.2. Energy & Power
     6.3.3. Healthcare
     6.3.4. Manufacturing
     6.3.5. Transportation
     6.3.6. Others
  6.4. Absolute $ Opportunity Assessment by End Users
  6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Photonic Sensors Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Photonic Sensors Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Photonic Sensors Demand Share Forecast, 2019-2026
8. North America Photonic Sensors Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Photonic Sensors Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Photonic Sensors Market Size and Volume Forecast by Types
     8.4.1. Biophotonic Sensors
     8.4.2. Fiber Optic Sensors
     8.4.3. Image Sensors
     8.4.4. Others
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. North America Photonic Sensors Market Size and Volume Forecast by End Users
     8.7.1. Aerospace & Defense
     8.7.2. Energy & Power
     8.7.3. Healthcare
     8.7.4. Manufacturing
     8.7.5. Transportation
     8.7.6. Others
  8.8. Basis Point Share (BPS) Analysis by End Users
  8.9. Y-o-Y Growth Projections by End Users
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Photonic Sensors Demand Share Forecast, 2019-2026
9. Latin America Photonic Sensors Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Photonic Sensors Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Photonic Sensors Market Size and Volume Forecast by Types
     9.4.1. Biophotonic Sensors
     9.4.2. Fiber Optic Sensors
     9.4.3. Image Sensors
     9.4.4. Others
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Latin America Photonic Sensors Market Size and Volume Forecast by End Users
     9.7.1. Aerospace & Defense
     9.7.2. Energy & Power
     9.7.3. Healthcare
     9.7.4. Manufacturing
     9.7.5. Transportation
     9.7.6. Others
  9.8. Basis Point Share (BPS) Analysis by End Users
  9.9. Y-o-Y Growth Projections by End Users
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Photonic Sensors Demand Share Forecast, 2019-2026
10. Europe Photonic Sensors Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Photonic Sensors Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Photonic Sensors Market Size and Volume Forecast by Types
     10.4.1. Biophotonic Sensors
     10.4.2. Fiber Optic Sensors
     10.4.3. Image Sensors
     10.4.4. Others
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Europe Photonic Sensors Market Size and Volume Forecast by End Users
     10.7.1. Aerospace & Defense
     10.7.2. Energy & Power
     10.7.3. Healthcare
     10.7.4. Manufacturing
     10.7.5. Transportation
     10.7.6. Others
  10.8. Basis Point Share (BPS) Analysis by End Users
  10.9. Y-o-Y Growth Projections by End Users
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Photonic Sensors Demand Share Forecast, 2019-2026
11. Asia Pacific Photonic Sensors Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Photonic Sensors Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Photonic Sensors Market Size and Volume Forecast by Types
     11.4.1. Biophotonic Sensors
     11.4.2. Fiber Optic Sensors
     11.4.3. Image Sensors
     11.4.4. Others
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Asia Pacific Photonic Sensors Market Size and Volume Forecast by End Users
     11.7.1. Aerospace & Defense
     11.7.2. Energy & Power
     11.7.3. Healthcare
     11.7.4. Manufacturing
     11.7.5. Transportation
     11.7.6. Others
  11.8. Basis Point Share (BPS) Analysis by End Users
  11.9. Y-o-Y Growth Projections by End Users
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Photonic Sensors Demand Share Forecast, 2019-2026
12. Middle East & Africa Photonic Sensors Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Photonic Sensors Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Photonic Sensors Market Size and Volume Forecast by Types
     12.4.1. Biophotonic Sensors
     12.4.2. Fiber Optic Sensors
     12.4.3. Image Sensors
     12.4.4. Others
  12.5. Basis Point Share (BPS) Analysis by Types
  12.6. Y-o-Y Growth Projections by Types
  12.7. Middle East & Africa Photonic Sensors Market Size and Volume Forecast by End Users
     12.7.1. Aerospace & Defense
     12.7.2. Energy & Power
     12.7.3. Healthcare
     12.7.4. Manufacturing
     12.7.5. Transportation
     12.7.6. Others
  12.8. Basis Point Share (BPS) Analysis by End Users
  12.9. Y-o-Y Growth Projections by End Users
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Photonic Sensors Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Photonic Sensors Market: Market Share Analysis
  13.2. Photonic Sensors Distributors and Customers
  13.3. Photonic Sensors Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. Banner Engineering Corp.
     13.4.2. Baumer Holding AG
     13.4.3. Datalogic S.p.A.
     13.4.4. Omron Corporation
     13.4.5. Sick AG

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