According to IMARC Group latest report titled” Photonic Sensor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market reached a value of US$ 13.3 Billion in 2020. The global Photonic Sensor market share to grow at a CAGR of around 17% during 2021-2026. A photonic sensor is a device that intercepts light and converts it into an electrical signal. It is primarily used for integrated emission of light detection and transmission through fiber optics and other optical components. This sensor is also utilized for solar and photovoltaic cells, light-emitting diodes (LEDs), Laser-Induced Fluorescence (LIF), calorimetry, spectrometry and biological fluorescence detection. Compared to the conventionally used sensors, photonic sensors are more cost-effective, faster, compact and lightweight. As a result, they are widely utilized in the early-detection and -warning systems for biological hazards, structural flaws and security threats across the defense, aerospace, energy and power industries.Get a sample copy of this Report: www.imarcgroup.com/photonic-sensor-market/requestsample
Market Trends:
Rapid industrialization across the globe, along with the escalating demand for enhanced safety and security solutions, is primarily propelling the market for photonic sensors. These sensors facilitate self-operated monitoring of industrial processes and show accurate data on centralized servers. Furthermore, the growing adoption of wireless sensing technology is providing a boost to the market growth. Additionally, numerous technological advancements, such as the introduction of advanced photonic sensors with higher performance and multi-wavelength light generation capabilities, are also catalyzing the global market. Numerous other factors, including the emergence of the Industry 4.0 revolution and the increasing deployment of photonic sensors for wind measurement, early-warning and turbine structural health monitoring, are projected to further drive the market growth in the coming years.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
A2 Photonic Sensors
Banner Engineering Corp.
Baumer Holding AG
BaySpec Inc.
Honeywell International Inc.
LAP Laser LLC
Mitsubishi Electric Corporation
Omron Corporation
Prime Photonics LC
Samsung Electronics Co. Ltd
Photonic Sensor Market Segmentation:
Our report has categorized the market based on region, product type and end use industry.
Market Breakup by Product Type:
Fiber Optic Sensors
Image Sensors
Biophotonic Sensors
Others
Market Breakup by End Use Industry:
Aerospace and Defense
Transportation
Manufacturing
Healthcare
Energy and Power
Others
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