Introduction
Photonics is a technology which is involved with the use of light which replaces the traditional or usual electronics in several applications. The photonics sensor technology is motivating the growth in several main end markets which includes advanced manufacturing, energy, defense, communications and information technology, medicine and healthcare among others.
The photonic sensor technologies have become more significant in the field of material characterization and material processing. The complexity of physical, biological and chemical systems is not feasible without the use of photonic sensor and detectors technologies. Photonic sensor and detector found its way into the surgeries, industries, and in the ordinary life as well its usage in the research laboratories. The main benefits provided by this technology include contact free, straight measurements and the non destructive analyses of systems, products and substances.
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The photonic sensors and detectors technology has now been renowned as a technology that impacts and strengthens a whole host of industrial sectors, from security to healthcare, from telecommunications to manufacturing, from the environment to the energy, and from biotechnology to the aerospace. The major burning issue in this market is the compatibility of the photonic sensors and detectors with other products.
The main factors that are driving the photonic sensors and detectors market are the increase in requirement for security and safety, a substitute for a failed technology, rise in the growth in wireless sensing technology market, increased in the usage of wind power, distributed sensing and the increase in the need for oil reserves among others.
The main factor that is restraining the growth of this market includes high initial cost required and the lack of industry standards. The main opportunity for the growth in future of the photonic sensors and detectors market includes the industrial assets safety and usage of this technology in the structural health monitoring. Fiber optics sensor is estimated to rise at a high rate as it is gaining significance in the areas such as oil & gas exploration and civil engineering which mostly considers border security and fencing.
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Market Segmentation
Some of the major companies that are dominating in the photonic sensors and detectors market include Banner Engineering Corp., Bayspec Inc., Baumer Holding AG., Fiber Optic Sys. Tech. Inc. (Fox-Tek), Omron Corp., St. Jude Medical Inc., Lap Laser LLC., Qorex LLC., Bbn International Ltd., Fibertronix Ab., Ibsen Photonics A/S, Smart Fibres Ltd. and Mitsubishi Electric Corp. among others.
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Key features of this report
- Drivers, restraints, and challenges shaping the Photonic Sensors and Detectors market dynamics
- Latest innovations and key events in the industry
- Analysis of business strategies of the top players
- Photonic Sensors and Detectors market estimates and forecasts(2015 -2021)
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