The future looks bright for the global photonic sensor market as it is likely to experience significant growth. According to FMI's predictions, the market size could soar from USD 27.4 billion in 2023 to an impressive USD 91.3 billion by 2033. This notable growth is projected to be driven by an outstanding CAGR of 12.8%.
The photonic sensor adoption trend is surging given their high accuracy, sensitivity, and reliability. They outperform traditional sensors in these aspects. Advancements in technology are driving the photonic sensor demand. This growth is expected to be substantial during the forecast period.
Key Drivers Boosting the Demand for Photonic Sensors:
Challenges for Market Players in the Photonic Sensor Industry:
| Attributes | Details |
|---|---|
| Current Year Value (2023) | USD 27.4 billion |
| Expected Forecast Value (2033) | USD 91.3 billion |
| Projected CAGR (2023 to 2033) | 12.8% |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
The photonic sensor market size was USD 23.5 billion between 2018 and 2022, where it exhibited a CAGR of 16.6%. During this historical period, the photonic sensor technology market has undergone a significant transformation. The advancement of photonic technology has led to its usage in many different industries. For instance, technological advancements have increased the adoption of photonic sensors for satellite communication and space exploration.
The improvement of photonic sensors has been accelerated by advancements in the field of fiber optics. These advancements have increased the spectrum range of photonic sensors. Better sensing capabilities are now provided by photonic sensors. Therefore, photonic sensor technology is likely to provide a high return on investment over time.
The desire for improved safety and security solutions is anticipated to be a crucial photonic sensor impact factor. Better alternatives to current technology and the development of photonic sensor wireless are expected to increase the demand for photonic sensors.
Rising demand for fiber optic communication systems and increasing photonic sensor applications in structural health monitoring applications. The emergence of large-scale microelectromechanical systems based on silicon photonics LiDAR for 3D imaging and mapping is likely to increase photonic sensor sales.
Photonic sensor manufacturers place a strong emphasis on creating effective devices. To address the rising demand for advanced sensing solutions, eco-friendly and energy-efficient photonic sensors are anticipated to be created and introduced to the market during the forecast period. Growing demand for headwall SWIR imaging technology in defense and surveillance applications and increasing use of SPAD photodiodes in quantum computing are expected to surge the product demand.
Principal Consultant
| Countries | Projected Market Value (2033) |
|---|---|
| United States | USD 14.6 billion |
| United Kingdom | USD 2.3 billion |
| China | USD 23.2 billion |
| Japan | USD 14.3 billion |
| South Korea | USD 5.6 billion |
Given the advancements in photonics, North America is expected to have a substantial market demand on a regional level. A public-private initiative worth USD 610 million was launched in 2015 to enhance photonics manufacturing capabilities in the United States. The initiative was led by the newly founded American Institute for Manufacturing Integrated Photonics (AIM Photonics). AIM Photonics served as the central point for the initiative. As a result, the market in the region is expected to grow significantly in the projected period.
| Country | United States |
|---|---|
| Historical CAGR (2018 to 2022) | 13.3% |
| Forecasted CAGR (2023 to 2033) | 11.5% |
The United States photonic sensor market is primarily driven by the growing demand for automation across various industries. Market players focus on developing innovative products to gain a competitive edge. For instance, a freshly developed inertial sensor with integrated photonic chip technology was introduced by KVH in June 2020. The government has launched several initiatives to promote the adoption of photonic sensors. For instance, in 2012, the National Research Council published a follow-up to ‘Harnessing Light.’ The publication called for the creation of the National Photonics Initiative (NPI). The purpose of the NPI is to boost coordination between business, government, and academia and identify and advance critical photonics fields.
Asia Pacific is likely to emerge as the leading market during the forecast period when it comes to photonic sensors. Increased military and defense investment as well as the trend toward industrial automation in China and Japan are driving regional growth. The rapid growth in photonics and lasers has been observed in recent years in nations like China and South Korea. This is because manufacturing in these nations has undergone a significant transition. Particularly among the market segments with rapid expansion have been automotive, consumer electronics, and industrial manufacturing.
| Country | China |
|---|---|
| Historical CAGR (2018 to 2022) | 18.9% |
| Forecasted CAGR (2023 to 2033) | 14.3% |
| Country | Japan |
|---|---|
| Historical CAGR (2018 to 2022) | 16.9% |
| Forecasted CAGR (2023 to 2033) | 13.0% |
| Country | South Korea |
|---|---|
| Historical CAGR (2018 to 2022) | 18.2% |
| Forecasted CAGR (2023 to 2033) | 13.3% |
China photonic sensor market has fast-paced growth lately given the increasing adoption of photonic sensors in telecommunications and manufacturing industries. The government of China focuses on technological advancements and the promotion of smart cities.
It also provides significant military resources for the adoption of contemporary technologies. With about 11% of all deployments of distributed fiber-optic sensing devices, China is paving the way, based on data from the Fiber Optic Sensing Association (FOSA). These factors are anticipated to open up opportunities for market players.
The Japan photonic sensor market has been experiencing considerable growth in recent years. Japan is known for its technological advancements.
The country is considered to be one of the world leaders in technology. It has a strong reputation for innovation. Many companies are at the forefront of technological development which positively impacts the market in Japan. The market growth is driven by the growing demand for smart devices, the rise of the automotive industry, and the increasing adoption of Industrial IoT.
The development of smart cities has been a key focus for South Korea, as evidenced by the launch of the 'Smart City Seoul' initiative. The government has launched several initiatives to support the photonic sensor industry.
One example of South Korea's efforts to establish itself as a top technological hub is its planned investment of USD 160 million. These factors are driving the South Korea photonic sensor market growth. Market players in these countries are taking several initiatives to attain competitive advantages. For instance, in February 2023, Hamamatsu Photonics invented the optical transceiver P16671-01AS.
This enables 1.25 Gbps fiber-optic communications. In August 2021, it also created a new profile photonic sensor with an incorporated computer feature called the S15366-256 sensor. On the other hand, in June 2018, Omron revealed plans to build a second factory for OMRON (Shanghai) Co. Ltd. located in Shanghai, China. The aim was to increase production capacity for different types of control equipment and satisfy the high demand for factory floor automation in the country.
Europe is making huge investments in the development of smart cities. The region is also promoting the use of renewable energy sources. The Commission has proposed the 2030 Climate Target Plan. It aims to increase the ambition of the European Union in reducing greenhouse gas emissions to a minimum of 55% below 1990 levels by 2030. These are expected to drive the demand for photonic sensors in the region.
| Country | United Kingdom |
|---|---|
| Historical CAGR (2018 to 2022) | 11.8% |
| Forecasted CAGR (2023 to 2033) | 11.1% |
The United Kingdom photonic sensor market growth can be attributed to the increasing demand for advanced photonic sensor technology across various industries. The rising adoption of renewable energy sources along with the demand for enhanced security measures are further driving the demand for photonic sensors in the country.
The government promotes renewable energy sources and smart city development. This has increased the adoption of photonic sensors in the renewable energy sector in the country. Market players in the country primarily emphasize the development of revolutionary products.
For instance, STMicroelectronics introduced a new, highly integrated sensor named LSM6DSV16BX in March 2023. This sensor provides significant space savings for hearable devices, including sports and general-purpose earbuds. It features a 6-axis inertial measurement unit (IMU) that enables head tracking and activity detection.
| Segment | Product |
|---|---|
| Top Sub-segment | Fiber Optic Sensor |
| Historical CAGR (2018 to 2022) | 16.3% |
| Forecasted CAGR (2023 to 2033) | 12.7% |
| Segment | Technology |
|---|---|
| Top Sub-segment | Biophotonic Technology |
| Historical CAGR (2018 to 2022) | 16.0% |
| Forecasted CAGR (2023 to 2033) | 12.6% |
The fiber optic sensor segment dominates the market since these sensors offer numerous unique advantages for specialized applications over other sensors. These advantages include small size, lightweight construction, robustness, flexibility, immunity to electromagnetic interference, and multiplexed sensing capacity.
Fiber optic sensors can detect and measure a broad spectrum of parameters, such as temperature, strain, pressure, vibration, inclination, load, and displacement. They are adaptable and can be used across various industries. Fiber optic sensors possess a significant capability as a distributed sensor, collecting data continuously throughout the entire fiber length. Fiber optic sensors have a long lifespan and require minimal maintenance. They also have low power consumption and can be remotely monitored and controlled
The biophotonic technology segment dominates the global market for several reasons. Biophotonic sensors have a wide range of applications in the medical and defense sectors. They also provide field intelligence, defend against biowarfare, and detect explosives.
The medical sector extensively uses biophotonic sensors for diagnostics, treatments, vaccines, and medication creation. Biophotonic sensors can be miniaturized. Therefore, this sensor technology is suitable for point-of-care testing. Biophotonic sensors also offer high sensitivity and specificity. Their detection and quantification capabilities for biological molecules and cells make them highly suitable.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
| Market Players | Recent Developments |
|---|---|
| BAE Systems Plc | BAE Systems publicized its purpose in September 2022 to position a multi-sensor satellite cluster known as Azalea into a low Earth orbit by 2024. The primary objective of this initiative is to provide military clients with real-time, high-quality information and intelligence from space. |
| L3 Harris | L3Harris Technologies announced its plan in November 2022 to supply an advanced infrared sensor. The sensor is going to enhance the Command Launch Unit of the Javelin Weapon System. This system is widely used in both the United States and foreign military operations. The sensor aims to reduce the time needed to engage targets. |
| Thales Group | In October 2022, Thales introduced the future of uncooled thermal imaging sensors with the new HD Minerva. It is an essential component of the Driver's Vision Enhancement and Situational Awareness systems. By integrating 1280 x 1024-resolution HD detectors, the Minerva system provides two times more pixels than VGA sensors. |
| Market Players | Strategies |
|---|---|
| BAE Systems Plc |
|
| L3 Harris |
|
| Thales Group |
|
In 2023, the market is valued at USD 27.4 billion.
By 2033, the market will reach USD 91.3 billion.
Organic onions will expand at a 12.8% CAGR through 2033.
Icom Inc., L3 Harris, Leonardo S.r.l. are some key players.
From 2018 to 2022, the market registered a 16.6% CAGR.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product 5.1. Fiber Optic Sensor 5.2. Image Sensor 5.3. Biophotonic Sensor 5.4. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Technology 6.1. Fiber Optic Technology 6.2. Laser Technology 6.3. Biophotonic Technology 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 7.1. Industrial 7.2. Healthcare 7.3. Automotive and Transportation 7.4. Safety and Security 7.5. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. BAE Systems Plc 16.2. BK Technologies Corporation 16.3. General Dynamics Corporation 16.4. Hytera Communications Corp Ltd 16.5. Icom Inc. 16.6. L3 Harris 16.7. Leonardo S.r.l. 16.8. MCS Digital 16.9. Motorola Solutions 16.10. Thales Group 17. Assumptions & Acronyms Used 18. Research Methodology
Explore Technology Insights
View Reports
Photonic Sensor Market
