Nanophotonics Market to Reach $9.3 Billion by 2009

By Consulting Specifying Engineer Staff January 18, 2005

The global market for nanophotonic devices is projected to increase dramatically between 2004 and 2009-from $420 million to more than $9.3 billion-according to a soon-to-be-released report from Business Communications Company, Inc., Norwalk, Conn.

Photonics, the technology of generating and controlling light, particularly to carry information, includes the emission, transmission, amplification, detection, modulation and switching of light. Nanophotonics involves the interaction of light with nanoscale structures and materials.

Nanophotonic light-emitting diode (LED) technology, including flat-panel and plasma displays, accounted for more than 82% of the 2004 nanophotonics market. Near-field optics and nanocrystalline dye-sensitized solar cells accounted for 14.4% and 3.3%, respectively.

LEDs is the fastest-growing nanophotonic market segment with a projected average annual growth rate of more than 90% between 2004 and 2009, reflecting their increased use in monitor and display applications. As this segment is projected to represent nearly 94% of the nanophotonics market by 2009, near-field optics and nanophotonic-integrated circuits (NPICs) are the only other device types expected to have market shares greater than 1%.

The largest numbers, in terms of nanophotonic device sales, over the next five years are expected in the areas of monitors and displays, bioassays and computing and electronics, with lighting applications compromising a much smaller market share.