Research and Markets has announced the addition of the "Global Nanophotonic Devices Market 2012-2016" report to their offering.
The analysts forecast the Global Nanophotonic Devices market to grow at a CAGR of 35.8 percent over the period 2012-2016. One of the key factors contributing to this market growth is the high demand for nanophotonic devices in LEDs. The Global Nanophotonic Devices market has also been witnessing the miniaturization of optical devices. However, the high cost of integration could pose a challenge to the growth of this market.
The key vendors dominating this market space are IBM Corp., JDS Uniphase Corp., OSRAM Opto-semiconductors GmbH, and Samsung SDI Co. Ltd.
The other vendors mentioned in the report are Applied Plasmonics Inc., Carbon Nanotechnologies Inc., Nanogram Corp., Nanolab Inc., Quantum Dot Corp., and Universal Display Corp.
TechNavio's research portfolio in the Hardware series includes reports on the Smartphone Market, GPS Market, RFID Market, NFC Market, MEMS Market, PCB Market, OLED Market, DRAM Market, Barcode Scanner Market, Smart Card Market, POS Market, Microcontrollers Market, NAND Flash Market.
Commenting on the report, an analyst from the Hardware team said: "The miniaturization of optical devices is one of the emerging trends in the Global Nanophotonic Devices market. Nanophotonic devices enable the development of nano-scale optical devices, which has made these optical devices compatible with various electronic devices. Furthermore, nanophotonic devices have enhanced the performance of miniaturized optical devices and made them energy efficient. In addition, nanophotonic devices have helped vendors develop complex devices in a simpler form. Hence, the trend of miniaturization has increased the applications of optical devices."
According to the report, the high demand for nanophotonic-based LED devices is one of the major drivers in the Global Nanophotonic Devices market. In 2012, the LED segment played a major role in the growth of the Global Nanophotonic Devices market. The use of nanophotonic devices in LEDs greatly improves the efficiency of LEDs. In addition, nanophotonic-based LEDs consume less power compared to lasers. As a result of the inclusion of nanophotonic devices in LEDs, there has been significant improvement in output efficiency. LEDs are being used in a wide range of applications such as backlights in LED TVs, automotive displays, and consumer electronics. Thus, the incorporation of nanophotonic devices in LEDs is leading to the growth of the Global Nanophotonic Devices market.