Global Photonic Sensors Market Size, Share & Industry Trends Analysis Report By Product, By Application, By Technology (Fiber Optic Technology, Laser Technology, and Biophotonic Technology), By Regional Outlook and Forecast, 2023 - 2030

Global Photonic Sensors Market Size, Share & Industry Trends Analysis Report By Product, By Application, By Technology (Fiber Optic Technology, Laser Technology, and Biophotonic Technology), By Regional Outlook and Forecast, 2023 - 2030

The Global Photonic Sensors Market size is expected to reach $80.5 billion by 2030, rising at a market growth of 14.5% CAGR during the forecast period. In the year 2022, the market attained a volume of 2,82,376.8 thousand units, experiencing a growth of 15.7% (2019-2022).

Photonic sensors are integrated into aircraft instrumentation systems to monitor critical parameters such as altitude, airspeed, and attitude. Consequently, the Safety & Security segment captured $9,950.3 million revenue in the market in 2022. Photonic sensors, including laser-based and infrared imaging, are used in missile guidance and targeting systems. They provide accurate data for tracking and engaging enemy targets. They are essential in night vision goggles, scopes, and thermal imaging devices used by military personnel. They contribute to safe and efficient flight operations. These sensors, including optical and infrared cameras, are widely used in UAVs for surveillance, reconnaissance, and target identification. They provide real-time situational awareness to military personnel. Some of the factors impacting the market are the need for enhanced safety and security solutions, rise in wireless sensing technology and cost constraints of these sensors.

Photonic sensors, such as surveillance cameras and infrared sensors, are used for continuous monitoring of public spaces, critical infrastructure, and private properties. These sensors provide real-time data to identify and respond to security threats and emergencies. They are integrated into perimeter security systems to detect unauthorized intrusions and breaches. Fiber-optic intrusion detection systems, for example, provide accurate and reliable alerts when disturbances occur along boundaries or sensitive areas. Additionally, Wireless sensing technology enables them to be deployed in remote or hard-to-reach locations, such as offshore oil platforms, bridges, and environmental monitoring sites. Data can be collected and transmitted wirelessly, allowing real-time monitoring and control without physical access. Wireless photonic sensors eliminate the need for extensive cabling and infrastructure, leading to cost savings in installation and maintenance. They are deployed in smart energy grids to monitor power distribution and manage energy resources more efficiently. This helps reduce energy waste and improve grid reliability. As wireless sensing technology continues to evolve, the market is expected to experience further growth.

However, many industries, including manufacturing, consumer electronics, and agriculture, are highly price sensitive. High upfront costs for photonic sensor technology can deter potential users, limiting market penetration. In a competitive market, photonic sensor manufacturers may face pressure to reduce prices to remain competitive. This can impact profit margins and may necessitate cost-saving measures. End users often evaluate the return on investment (ROI) for photonic sensor deployments. Continuous research and development are crucial for advancing photonic sensor technologies. The cost of staying at the forefront of innovation can be a challenge for manufacturers. Some applications, such as consumer electronics and agriculture, have strict cost limitations. These sensors may be excluded from certain applications due to their cost constraints. The above factors will hamper the market growth.

Product Outlook

On the basis of product, the market is segmented into fiber optic sensor, image sensor, biophotonic sensor, and others. The image sensor segment garnered a significant revenue share in the market in 2022. Image sensors can capture images at different frame rates, determining the smoothness of video motion. Higher frame rates are essential for applications like video recording and high-speed photography. A higher dynamic range is desirable for capturing scenes with a broad range of lighting conditions. Image sensors are at the core of modern digital imaging technology, and their performance continues to improve, enabling higher-quality images, more accurate colour reproduction, and better low-light performance in a wide range of consumer and industrial devices.

Application Outlook

On the basis of application, the market is divided into safety & security, industrial, automation & transportation, healthcare, energy & infrastructure, oil & gas, and others. The industrial process segment garnered a significant revenue share in the market in 2022. Infrared (IR) thermometers and thermal imaging cameras use these sensors to measure the temperature of machinery, equipment, and materials. They are used in industrial processes like hydraulic systems, chemical processing, and oil and gas operations. They provide precise measurements and data that enable better process control, quality assurance, and maintenance, ultimately contributing to increased productivity and reduced operational costs.

Technology Outlook

Based on technology, the market is segmented into fiber optic technology, laser technology, and biophotonic technology. The biophotonic technology segment acquired a considerable revenue share in the market in 2022. It enables fluorescence microscopy to visualize and study cellular and molecular structures. Biophotonic technology can be applied to monitor environmental parameters such as water quality and pollution levels. It plays a critical role in understanding fundamental biological processes and developing practical solutions for healthcare and life sciences. Ongoing developments in biophotonic technology hold promise for further enhancing the ability to explore and manipulate biological systems.

Regional Outlook

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region covered a considerable revenue share in the market in 2022. It is expected that the Asia-Pacific region will experience the most substantial growth rate throughout the projected timeframe. In recent years, the economies of Korea and China have experienced the most significant growth in photonics and lasers. This is due to the substantial transformation in the manufacturing sector of this region, particularly in these nations. Moreover, photonics and lasers are experiencing substantial expansion in the Asia-Pacific region, predominantly attributable to accelerated economic expansion and heightened manufacturing utilization of lasers.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Baumer Holding AG, Banner Engineering Corporation, Honeywell International, Inc., Samsung Electronics Co., Ltd. (Samsung Group), Toshiba Corporation, Fujifilm Holdings Corporation, Motorola Solutions, Inc., General Electric Company, BAE Systems PLC and General Dynamics Corporation.

Strategies Deployed in Photonic Sensors Market

Oct-2023: Samsung Display Co., Ltd., a Samsung Electronics subsidiary, completed the acquisition of eMagin Corporation, a U.S.-based OLED microdisplay leader. This provided eMagin with the scale and technologies for accelerated growth and enhanced value for customers.

May-2023: Fujifilm Holdings Corporation acquired Entegris, Inc., an American provider of products and systems that purify, protect, and transport critical materials used in the semiconductor device fabrication process. Through this acquisition, Fujifilm would expand its range of electronic chemicals available to customers, including KMG's High-Performance Process Chemicals (HPPCs), which play a crucial role in the etching and cleaning of silicon wafers during semiconductor production.

Oct-2021: Honeywell International, Inc. released two new Bluetooth-connected gas detectors that offer continuous monitoring for dangerous gases even in snow, fog, rain, and other inclement weather. This innovation helps users keep their oil and gas, chemicals, and petrochemical sites safe.

Mar-2021: Honeywell International, Inc. completed the acquisition of Fiplex Communications, Inc., a worldwide manufacturer of telecommunication products. Through this acquisition, Honeywell enhanced its communications and building connectivity products.

Nov-2020: GE Healthcare, a subsidiary of General Electric Company, acquired Prismatic Sensors, a Swedish startup with deep silicon detector technology for photon-counting computed tomography (PCCT). Through this acquisition, GE expanded its silicon-related portfolio.

Dec-2019: Honeywell International, Inc. acquired Rebellion Photonics, a Houston-based provider of visual gas monitoring solutions for the oil and gas industries. The acquisition integrated Rebellion into Honeywell's Safety and Productivity Solutions and Performance Materials and Technologies businesses.

Scope of the Study

Market Segments covered in the Report:

By Product (Volume, Thousand Unit, USD Billion, 2019-30)

• Fiber Optic Sensor
• Image Sensor
• Biophotonic Sensor
• Others

By Application (Volume, Thousand Unit, USD Billion, 2019-30)

• Safety & Security
• Automotive & Transportation
• Industrial
• Healthcare
• Oil & Gas
• Energy & Infrastructure
• Others

By Technology (Volume, Thousand Unit, USD Billion, 2019-30)

• Fiber Optic Technology
• Laser Technology
• Biophotonic Technology

By Geography (Volume, Thousand Unit, USD Billion, 2019-30)

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA

Companies Profiled

• Baumer Holding AG
• Banner Engineering Corporation
• Honeywell International, Inc.
• Samsung Electronics Co., Ltd. (Samsung Group)
• Toshiba Corporation
• Fujifilm Holdings Corporation
• Motorola Solutions, Inc.
• General Electric Company
• BAE Systems PLC
• General Dynamics Corporation

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