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Research and Markets, the world's largest market research store, published a report on, "Photonic Crystals - Global Strategic Business Report". According to the report, the Global Photonic Crystals Market is estimated at US $52.8 Billion in 2023 and is projected to reach US $96.8 Billion by 2030, growing at a CAGR of 9.0% from 2023 to 2030.
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
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- 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
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?
Click here to read the report titled, 'Photonic Crystals - Global Strategic Business Report'.
