Global Photonic Sensors Market to Reach USD 65,100.46 Million by 2031 | CAGR of 11.8%
Category : Semiconductor And Electronics | Published Date : Nov 2024 | Type : Press Release
Photonic Sensors Market Scope & Overview:
In the newly published report, Consegic Business Intelligence states that the Photonic Sensors Market size was valued at USD 26,741.24 million in 2023 and is projected to grow at a CAGR of 11.8%, reaching USD 65,100.46 million by 2031. Photonic sensors utilize light to measure physical, chemical, and biological properties, offering high sensitivity, immunity to electromagnetic interference, and adaptability to extreme conditions. These sensors are applied across industries including healthcare for diagnostics, aerospace for navigation, and manufacturing for real-time monitoring and quality control.
The report comprises the Photonic Sensors Market Share, Size & Industry Analysis, based on Product (Fiber Optic Sensors, Image Sensors, Biophotonic Sensors), End-User (Aerospace & Defense, Transportation, Manufacturing, Healthcare, Energy & Power), and Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), and Forecast, 2024-2031.
The report contains detailed information on Photonic Sensors Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profiles, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
The growing demand for real-time monitoring solutions and advancements in photonic technologies are driving market growth.
Segmental Analysis :
Based on product, the market is segmented into Fiber Optic Sensors, Image Sensors, and Biophotonic Sensors.
- The fiber optic sensors segment accounted for the largest market share of 56.29% in 2023, driven by its high sensitivity, long-distance sensing capabilities, and application in structural health monitoring, aerospace, and oil & gas industries.
- The biophotonic sensors segment is projected to grow at the fastest CAGR, supported by its applications in medical diagnostics, disease detection, and drug development.
Based on end-user, the market is segmented into Aerospace & Defense, Transportation, Manufacturing, Healthcare, and Energy & Power.
- The transportation segment dominated the market in 2023, driven by the adoption of photonic sensors in vehicle diagnostics, infrastructure monitoring, and autonomous navigation systems.
- The aerospace & defense segment is anticipated to grow rapidly, fueled by increasing investments in precision measurement and durability-focused solutions.
Based on regions, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
- Asia-Pacific: Held the largest market share in 2023, driven by advancements in manufacturing, telecommunications, and increasing investments in photonic technologies in China and India.
- North America: Expected to grow significantly due to demand for automation in automotive and industrial manufacturing and rising government initiatives for photonic technologies.
| Report Attributes | Report Details |
| Study Timeline | 2018-2031 |
| Market Size in 2031 | USD 65,100.46 Million |
| CAGR (2024-2031) | 11.8% |
| Product | Fiber Optic Sensors, Image Sensors, Biophotonic Sensors |
| End-User | Aerospace & Defense, Transportation, Manufacturing, Healthcare, Energy & Power |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. This report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the Photonic Sensors Industry:
- Honeywell International Inc. (US)
- Smart Fibres Ltd. (UK)
- A2 Photonic Sensors (France)
- Mitsubishi Electric Corporation (Japan)
- Baumer Holdings AG (Switzerland)
- Toshiba Corporation (Japan)
- Dongbu HiTek Co. Ltd. (South Korea)
- OMRON Corporation (Japan)
- Samsung Electronics Co. Ltd (South Korea)
- Oxsensis Ltd (UK)
Recent Industry Developments :
- September 2024: Sentea launched an advanced FBG fiber sensor interrogator-on-chip with built-in light source, targeting precision applications.
- November 2024: Teledyne Technologies acquired Excelitas Technologies’ aerospace and defense businesses for USD 710 million to expand its photonic solutions portfolio.
- October 2023: Hamamatsu Photonics unveiled the H10682-110W photon-counting sensor for advanced blood testing applications.
