March 05, 2019
WELLESLEY, Mass., March 05, 2019 — A new report from BCC Research, “Photonic Crystals: Materials, Technologies and Global Markets,” estimates that by 2023, the market will reach $31.4 billion, up from $12.2 billion in 2018, indicating a significant compound annual growth rate (CAGR) of 20.8%.
Technology product designers are envisioning photonic crystals as the gateway toward fabrication of the next generation of devices in semiconductor-based technology. Photonic crystals are used to develop the perfect optical switch, as well as to enhance the efficiency of existing semiconductor-based products.
“The photonic crystals market offers significant potential in the near future and will continue to achieve double-digit growth. It helps that the theory behind their functioning is fairly well-established,” said BCC Research analyst Kaustubha Parkhi.
Market Barrier: Lack of uniformity
The major barrier to the growth of the photonic crystals market is the lack of uniformity in the way in which photonic crystals are viewed technically and commercially. The market is segmented by components and modules because each component and module have dynamics that are largely independent of the other. It is unlikely that photonic crystals will develop an independent supply chain. Rather, stakeholders related to these components and modules will most likely determine the path of photonic crystal adoption in their own supply chain. Additionally, different measuring units for each component and module, making it difficult for stakeholders to estimate future shipping volumes.
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Photonic Crystals: Materials, Technologies and Global Markets( AVM059C )
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