Asia Pacific Nanophotonics Market Growth Rate Overview:
Asia Pacific Nanophotonics Market reached US$ xx Million in 2021 and is expected to reach US$ xx Million by 2029, growing with a CAGR of xx% from 2022 to 2029. The Asia Pacific Nanophotonics Market is expanding due to various factors such as increased population and infrastructure, rising living standards, and middle-class per capita income and replacing traditional lighting. As a result, these factors are expected to increase the demand for nanophotonics in the electronics market.
Furthermore, the Asia Pacific Nanophotonics Market is expanding as a result of the growing use of nanophotonic LEDs and OLEDs in flat panel displays and lighting applications. End users are increasingly adopting these energy-efficient and cost-effective solutions. Furthermore, developing countries are focusing more on energy conservation measures. LED and OLED adoption is driven by consumers' growing popularity of large-screen displays.
LED/OLEDs can be found in a variety of applications, such as T.V. screens, cell phones and other electronic devices. There has been an increase in demand for nanophotonics high beam LEDs for ultra-high light sanitization during the COVID-19 epidemic. Increased Internet penetration and technological advancements are assisting the market.
Market Demand:
Increasing Demand for Consumer Electronics to Drive the Asia Market
Over the last two decades, the tremendous economic expansion has lifted millions out of poverty and raised living standards, particularly in emerging markets such as Asia. The respective trends of socio-economic growth have resulted in the emergence of a middle class with increasing disposable income. Further, as the living standards of the expanding middle class raised in modernity, where electronic devices dominate every sector due to the convenience the respective products introduced into people's lives, the demand for these electronics such as televisions, cellphones, laptops, desktop computers, and other smart gadgets increased, particularly among middle classes.
Market Innovation:
The gradual introduction of 5G mobile internet services, up to 20 times faster than 4G, is expected to be a game-changer for Internet of Things (IoT) connectivity applications in everyday life. Fiber optic-based internet, where light pulses transmit data through cables, is experiencing widespread adoption due to decreasing costs and increasing availability. Li-Fi, a type of wireless communication technology that utilizes light to transmit data and is much more versatile than Wi-Fi, is expected to undergo commercial deployment in this decade. There is little doubt that Asia offers enormous prospects for internet access. South Korea is already well-served by mobile connections as well as residential internet. The government aggressively promoted this unprecedented degree of high-speed internet access. China's government is also vigorously seeking and sponsoring 5G mobile and fiber-to-the-home networks.
Malaysia, the Philippines, Indonesia and Thailand are tremendous opportunities based solely on population. They are not well served by fixed home internet access, but strangely, each person has more than one mobile internet subscription! These markets have bypassed fixed home connectivity and gone straight to mobile. Whether mobile will be sufficient for a long time, or whether the quest for extremely fast throughput creates a demand for more fixed home internet options.
Nanophotonics is used for various optical switching applications in telecommunications equipment. The increasing innovation in the telecommunications sector is expected to be a key driver for the growth of the Asia Pacific Nanophotonics Market and is expected to be a pivotal factor in the evolution of the respective market.
Market Segmentation:
The segment based on Near Field Optics (NFO) in the Asia Nanophotonics Market is valued at US$ xx Million in 2021 and is estimated to grow at a CAGR of xx% over the forecast period to reach US$ xx Million by 2029. The market share percentage for the segment in 2021 was xx% which is expected to reach up to xx% in 2029.
Near-field optics is the branch of optics that studies configurations that rely on the flow of light to, from, through or near a subwavelength-featured element and the coupling of that light to a second element placed a subwavelength distance away. The resolution of conventional optical microscopy techniques is limited by light diffraction, around 250 nm, making it difficult to resolve domains or clusters in cellular membranes. The primary idea behind NSOM (near-field scanning optical microsope) is to confine the illuminating light to nanometric dimensions to overcome the diffraction limit that traditional far-field optical microscopy cannot reach.
In conventional optical microscopy, the spatial resolution limitation imposed by the nature of light aided the creation of near-field optical devices, most notably the near-field scanning optical microscope or NSOM. When investigating biological membranes, NSOM provides many advantages over traditional optical microscopy. NSOM's near-field and scanning probe techniques may provide high spatial resolution images beyond the diffraction limit, which is impossible to achieve with traditional optical microscopy. NSOM, when combined with fluorescence technology, may display both a topographic image and a simultaneous optical fluorescence image, allowing small domains and specific characteristics in membrane systems to be detected.
The growing application of optical microscopy and microscopes in various science fields raises the demand for Near Field Optics (NFO) devices, thus increasing the percentage of market share owned by respective segments in the Asia Nanophotonics Market.
Covid-19 Impact on the Industry:
Because of the influence of COVID-19, the Asia Pacific Nanophotonics Market fell in 2020. Beginning in March 2020, governments in Asia enacted harsh lockdowns and other restrictions of varying durations to halt the spread of the growing COVID-19 pandemic.
End-user industries' operations were disrupted as a result of the lockdowns. Due to government laws that adversely impacted their income, many industries were forced to reduce or discontinue operations. As a result of the pandemic's effects, numerous sectors were forced to cut, suspend, or postpone capital investments. China, one of the most important markets for nanophotonics, relaxed lockdown restrictions in May 2020, and economic activity gradually increased, reaching pre-pandemic levels by late 2020. Revenues for nanophotonics enterprises will so improve by the end of 2020.
Similarly, the decrease in demand from end-use industries wreaked havoc on the worldwide nanophotonics sector. The nanophotonics business relies on research and development operations to create breakthrough products and drive market growth. The pandemic had a significant impact on research and development activity. Because of the pandemic, many startups in the nanophotonics business were forced to close due to uncertain economic situations. However, studies investigating nanophotonics for COVID-19 detection tests were gaining traction.
The rapid technology innovation in telecommunication services and consumer electronics is expected to increase nanophotonics' demand significantly. The Asia Pacific nanophotonics market is expected to expand significantly in the coming years.
Regional Insights:
The Asia Pacific Nanophotonics market is projected to expand at a significant CAGR during the forecast period. The growing emphasis on introducing new nanophotonic solutions in line with the evolving market landscape, applications and technology innovation associated with material and manufacturing technologies that are versatile, lightning-fast, consume less energy and are widely available are driving the market growth. Market participants should closely monitor the latest trends and shift toward developing products to gain a competitive advantage in the existing Asia Pacific Nanophotonics Market landscape.
Report Key Highlights:
- According to DataM Intelligence's latest research report on the Asia Nanophotonics Market for the historic period, 2020 and the forecast period 2021–2029, One of the key market drivers is the expanding breakthrough in the telecommunications industry. Furthermore, as the largest nanophotonics end-users, rising consumer electronics demand is a key driver for the market. Implementing artificial intelligence and cohesive design architecture opens new avenues for the Asia Nanophotonics market. Because of the impact of COVID-19, the Asia Pacific Nanophotonics market fell in 2020. Despite the short-term hurdles, the pandemic is anticipated to positively impact the Asia nanophotonics market's long-term outlook. The demand for nanophotonics remains high and is expected to rise further as electronics become more powerful and find more applications in everyday life.
- Also, Korea is funding a significant amount of research to capitalize on the opportunities provided by this technology, with much of the government funding aimed at extending R&D and financing venture capital. The Korean Advanced Institute of Science and Technology (KAIST) and the Gwangju Institute of Technology Research are major academic institutions. The latter center's research has primarily focused on microelectromechanical systems and the development of optoelectric switches.
Major Companies:
Key players operating in the market in Asia pacific nanophotonics are EPISTAR Corporation, Samsung SDI Co Ltd, OSRAM Licht AG, Lumileds Holding B.V., NOVALED AG, Hitachi, NEC, Seiko Epson Corporation, Sharp Corporation, General Electric Company, Intel Corporation, International Business Machines Corporation.
Strategic Analysis and Recent Developments in the Industry:
Major market players of nanophotonics in Asia pacific, such as Samsung SDI Co Ltd, OSRAM Licht AG, focus on strategic partnerships and acquisitions to expand their footprint. Some other key market strategies in the Asia Nanophotonics market are highlighted below:
- On April 30, 2021, A research team from Nankai University's School of Chemistry and the Ministry of Education's Key Laboratory of Chemistry for Advanced Energy Materials partnered to develop high-performance large-area quasi-two-dimensional perovskite LED controllable preparation.
- On September 24, 2019, OSRAM Group launched new LiDAR lasers that allow autonomous vehicles to "see" farther and more effectively. The two new infrared high-power SMT components for LiDAR (Light Detection and Ranging) applications are expected to broaden system developers' options and expand the company's product portfolio.
