Global nanophotonic Market Worth US$37.6 Billion by 2014

(I-Newswire) July 18, 2009 - According to a new market research report, 'Nanophotonics - Advanced Technologies and Global Market (2009-2014)', published by MarketsandMarkets (www.marketsandmarkets.com), the global nanophotonics market is expected to be worth US$3.6 billion by 2014, out of which the Asian market will account for nearly 74% of the total revenues. The global market is expected to record a CAGR of 100.7% from 2009 to 2014.

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Nanophotonics is born out of the combination of three major sciences: photonics, nanotechnology, and optoelectronics. While photonics and optoelectronics have revolutionized the electronics and semiconductors market, nanotechnology has the greatest potential for further improvement, and hence has emerged as the most sought-after technology by big companies and research laboratories. In spite of it being in the nascent stage, nanophotonics is expected to make it to the mainstream market owing to the higher power efficiency, thermal resistivity, and operational life.

The nanophotonic component market is growing at a robust rate for the last few years and is expected to maintain a very high CAGR for the next few years. The market is expected to reach $3.6 billion in 2014 at a CAGR of 100.7% from 2009 to 2014.

Asia holds a major share of the global nanophotonics market. However, the U.S. and Europe represent very high growth rate of 161.1% and 160.0% respectively from 2009 to 2014. The U.S. and Europe assume further importance because of the large consumer base for the nanophotonic devices. Extensive investment in research and development for the application of nanophotonics in increasing number of application areas has become the main driver for this market

The LED market is the largest segment; and is expected to reach US$2.7 billion by 2014 at a CAGR of 91.3%. Optical amplifier and holographic memory device markets are estimated to record growth rate of 239% and 234.6% respectively from 2009 to 2014. The high growth rate of nanophotonics products is mainly due to high demand from Asian countries.

The Asian market is the largest geographical segment; and is expected to be worth US$2.7 billion by 2014. The second largest segment is Europe, with a CAGR of 160.0%. However, market size of the U.S. is expected to increase at the highest CAGR of 161.1% from the year 2009 to 2014.

The report is titled 'Nanophotonics- Advanced Technologies and Global Market (2009 - 2014)' and was published in June 2009.

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