Photonic Crystals Market Size Worth $118.74 Billion by 2033; Increasing Adoption of Cloud Computing, Big Data Analytics, & IoT Applications to Propel Growth

The global photonic crystals market size is anticipated to grow from USD 55 billion to USD 118.74 billion in 10 years. The market will experience rapid growth due to advancements in photonic crystals during the forecast period.

Newark, April 17, 2024 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 55 billion in 2023 global photonic crystals market will reach USD 118.74 billion in 2033. A class of materials known as photonic crystals is intended to control the flow of light precisely. These materials are created via lithography, layer-by-layer deposition, and self-assembly processes. Photonic crystals have excellent dispersion, contrast, and refractive index. These characteristics facilitate its ability to control light at the nanoscale. Photonic crystals are used in many different fields. They are utilized in fibres, waveguides, and other optical telecommunications components to modify light signals. Additionally, they improve the performance of LEDs and lasers by increasing light extraction efficiency. Additionally, they are essential to advancing photonic integrated circuits, which control light in optoelectronic devices. Photonic crystals are a useful tool for solar cell improvement. They are employed in cardiac care to enable high-resolution imaging using biomedical imaging. With photonic crystals, sophisticated optical devices for medical and telecommunications can be made.

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Key Insight of the Global Photonic Crystals Market

North America will dominate the market during the forecast period.

The United States Silicon Valley is a global centre of technical innovation that promotes cooperation and advances in photonic crystal technology. Research institutes can create better materials, fabrication methods, and applications with the help of large investments in R&D financed by venture capital, private investment, and government money. A highly skilled workforce drives innovation. North America is the leader in photonic crystals because of its research institutes, financial resources, highly qualified workforce, and cooperative culture.

Story continues

In 2023, the one-dimensional segment dominated the market with the largest market share of 40% and revenue of 22 billion.

The type segment is divided into one-dimensional, two-dimensional, and three-dimensional. In 2023, the one-dimensional segment dominated the market with the largest market share of 40% and revenue of 22 billion.

In 2023, the optical fibre segment dominated the market with the largest market share of 34% and revenue of 18.70 billion.

The application segment is divided into optical fiber, LED, image sensor, solar and PV cell, laser, discrete and integrated optical component, and others. In 2023, the optical fibre segment dominated the market with the largest market share of 34% and revenue of 18.70 billion.

In 2023, the IT and telecommunications segment dominated the market with the largest market share of 38% and revenue of 20.90 billion.

The end-user segment is divided into IT and telecommunications, industrial, aerospace and defence, life sciences and healthcare, and others. In 2023, the IT and telecommunications segment dominated the market with the largest market share of 38% and revenue of 20.90 billion.

Advancement in market

Sophisticated photonic devices may be made possible by a novel method for creating soft, adjustable 3D photonic crystals that can control light in all directions. This method involves adding nanoparticles of the right size and shape to blue phase liquid crystal. Since the photonic property of highly chiral liquid crystals is accomplished by the self-assembly of LC molecules, the blue phases (BPs) displayed by LCs are increasingly being investigated as low-cost substitutes for traditional 3D photonic crystals. An elegant method to create a complete photonic bandgap in BPs has been demonstrated by the research team of the Department of Science and Technology (DST) autonomous institution, the Centre for Nano and Soft Matter Sciences, Bengaluru. The team devised a straightforward and economical technique that creatively integrates high refractive index nanoparticles with suitable dimensions and shapes into the liquid crystal in the blue phase.

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Market Dynamics

Driver: The growing telecoms and IT industries.

The growth of digital services and apps, improved connectivity, and technological improvements have led to a boom in the IT and telecom industries. These industries are growing and expanding quickly because they form the foundation of contemporary society. Strong and effective communication networks are essential for IT infrastructure, cloud computing services, and data management solutions, all of which are in high demand due to the continuous digital transformation of industries. The need for comparable communication services and applications has increased because of the widespread use of smartphones, wearable technology, and mobile devices. Customers anticipate constant connectivity and high-speed internet access everywhere, forcing telecom providers to invest in network expansion and infrastructure upgrades to keep up with demand. Photonic crystals are essential to enable increased bandwidth, faster data transfer, and more effective communication networks. Photonic crystals will become increasingly necessary as telecom companies use new technologies like 5G and infrastructure upgrades. The growing use of big data analytics, cloud computing, and Internet of Things applications will fuel demand for photonic crystals.

Restraints: There are high expenses associated with photonic crystals.

Creating photonic crystals frequently calls for complex methods and supplies, which raises production costs. Manufacturing photonic crystals using advanced lithography techniques necessitates specialized tools and knowledgeable workers, which raises costs. The intricacy of designs for photonic crystals, as well as research and development costs, are also incurred in developing and optimizing fabrication methods, contributing to the overall cost burden. Integrating photonic crystals into useful systems and devices comes with accompanying costs. Increasing costs are also due to customization requirements, specialized testing and validation requirements, and compatibility concerns with current technology. The high cost of materials, R&D, fabrication, and integration difficulties may impede the growth of the global photonic crystal market.

Opportunities: developments are broadening the uses of photonic crystals.

More exact control over the design, production, and integration of photonic crystal structures has been made possible by technological breakthroughs. Performance and adaptability have increased as a result of these developments. The uses of photonic crystals in various industries have increased due to the advent of novel manufacturing techniques that enable the construction of these crystals with complicated geometries and customized features. Novel materials with distinctive optical properties have been developed due to advances in material science and nanofabrication. These materials present new possibilities for controlling light at the nanoscale and enhancing the potential of photonic crystals in various applications. Therefore, during the forecast period, it is expected that the breakthroughs made in photonic crystals will spur innovation, extend their potential applications, and support their growth.

Challenges: Integration, scalability and compatibility concerns.

The complexity of fabrication makes it difficult to achieve precise structures and properties. It requires specialized equipment and expertise, leading to higher costs and limited scalability. Photonic crystals typically exhibit bandgaps over specific wavelengths, restricting their usefulness and applications and hindering their adoption. The sensitivity to fabrication imperfections undermines the reliability of photonic crystals, as small variations in the structure can significantly degrade their optical properties. Temperature changes can affect the optical properties of photonic crystals, limiting their performance in certain applications. Integration challenges hinder the incorporation of photonic crystals into existing devices and systems due to differences in fabrication techniques and material compatibility. These inherited limitations pose a significant challenge to adopting photonic crystals in advanced systems and hinder the market’s growth.

Some of the major players operating in the global photonic crystals market are:

• Advanced Photonic Crystals (APC)
• Agilent Technologies
• Canon Kabushiki Kaisha (Canon)
• Corning Incorporated
• ICX Photonics
• LG Innotek
• Lockheed Martin
• Luminus Devises Inc.
• Microcontinuum and Lightwave Power
• NKT Photonics

Key Segments covered in the market:

By Type

• One-dimensional
• Two-dimensional
• Three-dimensional

By Application

• Optical Fiber
• LED
• Image Sensor
• Solar and PV Cell
• Laser
• Discrete and Integrated Optical Component
• Others

By End User

• IT and Telecommunications
• Industrial
• Aerospace and Defence
• Life Sciences and Healthcare
• Others

By Region

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

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About the report:

The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter’s five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

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