Photonic Crystals Market Growth Soars at 8.13% CAGR from 2023 to 2028, Driven by Multifaceted Industrial Adoption

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Oct 17, 2023, 13:30 ET

DUBLIN, Oct. 17, 2023 /PRNewswire/ -- The "Photonic Crystals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global photonic crystals market, with a valuation of US$ 54.3 billion in 2022, is poised for substantial growth in the near future. Experts predict the market to reach US$ 89.1 billion by 2028, showcasing a robust compound annual growth rate (CAGR) of 8.13% during the period from 2023 to 2028.

Photonic crystals are periodic dielectric optical nanostructures designed to manipulate and control the behavior of light, creating energy band structures for photon motion. These crystals come in three types: one-dimensional (1D), two-dimensional (2D), and three-dimensional (3D). Each type is crafted differently, with 1D crystals formed by stacking layers of materials, 2D crystals created through hole drilling and photolithography, and 3D crystals developed by drilling distinct layers and assembling 2D layers.

Key Market Trends Fueling Growth

Multifaceted Industrial Adoption: The extensive utilization of photonic crystals across diverse industrial verticals, including information technology (IT), healthcare, life sciences, commercial, aerospace, and defense, is a major growth driver.
LED Demand: Increasing demand for light-emitting diode (LED) products significantly contributes to market expansion.
2D Photonic Crystals: Growing usage of 2D photonic crystals in the commercial sector for applications like interacting with ultracold atoms and engineering light emission patterns, optical dispersion, and photon-mediated coherent communications, is fostering market growth.
Green Photonics Initiatives: Regulatory bodies worldwide are promoting the use of green photonics to reduce greenhouse gas emissions from transport, land use, and agriculture, positively impacting market growth.
Versatile Applications: Photonic crystals find applications in various sectors, including bio sources, optical fibers, image sensors, lasers, supercontinuum sources, photovoltaic (PV) cells, and discrete optical components, further driving market growth.
R&D Investments: Rising investments in research and development (R&D) in electrical engineering and the deployment of photonic crystals for solar energy trapping are additional growth catalysts.

Market Segmentation

The global photonic crystals market is segmented based on type, application, end-user, and region:

Types:

1-D Photonic Crystals
2-D Photonic Crystals
3-D Photonic Crystals

Applications:

Optical Fiber
LED
Image Sensor
Solar and PV Cell
Laser
Discrete and Integrated Optical Component
Others

End-Users:

Industrial
Aerospace and Defense
Life Sciences and Healthcare
Research and Development (R&D)
Others

Regions:

North America
- United States
- Canada
Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
Middle East and Africa

Competitive Landscape

The report provides an in-depth analysis of the competitive landscape, including profiles of key market players such as Corning Incorporated, Furukawa Electric Co. Ltd., GLOphotonics SAS, Gooch & Housego, Hamamatsu Photonics K.K., IPG Photonics Corporation, NKT Photonics A/S, Opalux Inc., Palo Alto Research Center Incorporated (Xerox Corporation), Photonic Lattice Inc. (Photron), and Teledyne Technologies Incorporated.

Key Questions Addressed in the Report

What was the global photonic crystals market size in 2022?
What growth rate is expected in the global photonic crystals market from 2023 to 2028?
What are the key factors driving the global photonic crystals market?
What impact has COVID-19 had on the global photonic crystals market?
How is the global photonic crystals market segmented by application?
Which regions are key in the global photonic crystals market?
Who are the major players/companies in the global photonic crystals market?

For more information about this report visit https://www.researchandmarkets.com/r/sfvdm

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