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 its higher power efficiency, thermal resistivity,
and operational life.
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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 US$3.6 billion in 2014 at a CAGR of 100.7% from
2009 to 2014 and a similar growth pattern can be expected for the nanophotonics
devices market as well. This market is expected to grow from a current market
size of US$1.8 billion to US$58 billion in 2014.
Though most of the nanophotonic products are still under research, the available
products such as nanophotonic LEDs, nanophotonic PV cells, nanophotonic OLEDs
have been very successful in the market. Nanophotonic LEDs has the largest market
share of US$106 million in 2009. However, considering the pace of progress in
various other segments like near-field-optics, optical amplifiers, optical switches
and holographic memory, it can be safely ascertained that holographic memory
and optical switches are expected to have the highest growth rate in the next
five years. Nanophotonic LEDs will still continue to be largest segment albeit
with a slow growth rate.
In the nanophotonic LED market, the high beam LED has the highest market share
followed by UV LED. In the fastest growing market of optical amplifiers, it
is the optical fiber amplifier that commands the highest CAGR in the period
2009 to 2014 followed by semiconductor amplifiers. HDSS is also expected to
grow with a CAGR comparable to that of optical amplifiers. OLED is estimated
to be the slowest growing market. Lowering production costs and improving operational
efficiencies would ensure opening of new opportunities for the nanophotonics
market.
The market is very concentrated with only the market leaders like Osram, IBM,
Samsung SDI, JDSU, etc doing extensive research in nanophotonics but as most
of the application areas are related to electronics, this market is expected
to attract a large number of players that would in turn increase the degree
of competition.
Posted August 5th, 2009
