MarketsandMarkets: Global Photonic Sensor Market Worth $8.17 Billion by 2016
DALLAS, December 1, 2011 /PRNewswire/ –
According to a new market research report “Photonic Sensor Market (2011 – 2016):
Global Forecast – By Type (Laser, Biophotonic, Fiber Optic) & Application (Oil & Gas,
Military & Aerospace, Energy & Infrastructure, Industrial Automation, Medical and Others)”
published by MarketsandMarkets (http://www.marketsandmarkets.com), the total photonic
sensors market is expected to reach $8.17 billion by 2016 at a CAGR of 16% from 2011 to
Browse 23 tables and in-depth TOC on Photonic Sensor Market (2011 – 2016): Global
Forecast – By Type (Laser, Biophotonic, Fiber Optic) & Application (Oil & Gas, Military &
Aerospace, Energy & Infrastructure, Industrial Automation, Medical and Others).
buyers will receive 10% customization of reports.
Photonic sensors have evolved rapidly since their introduction. The first optical
sensor was described by Bergman in 1968 to detect oxygen-based fluorescence quenching.
During the last decades, light sources and photo detectors have been developed to cover a
wide range of wavelengths from ultraviolet (UV) to visible to infrared (IR). This opens a
new set of sensor applications.
The photonic sensors market has gained market reach in the last couple of years. With
the number of innovations taking place in the technology of photonic sensors, the market
is expected to grow exponentially in the next five years at a considerable compound annual
growth rate. The demand for products that use photonic sensors is on the rise.
Increasing number of applications in the industrial segment such as smart structures,
oil & gas, and border security are the major drivers for the photonic sensors market. Most
of the drivers under the photonic sensors are based on unique properties such as
distributed sensing, and immunity to EMI; which are specific to particular industrial
applications. The restraining factor for the photonic sensor market [
http://www.marketsandmarkets.com/Market-Reports/photonics-sensor-market-427.html ] is
high cost and lack of standards; which ultimately results in lack of awareness and
adaptability by the customers. Also, the market is quite segregated with long R&D and NPI
(Need Product Inhibition) cycles.
The opportunities in the photonic sensors market are mostly application driven. A
gamut of applications is expected to arise in the coming five years due to the increased
usage of sensors. The use of fiber optic sensors would be gaining significance in the
areas of oil & gas exploration, civil engineering majorly including border security and
fencing. Biophotonic sensors will emerge in the field of new medical applications and
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