Photonic Sensors and Detection Market Size

Photonic Sensors & Detectors Market size was over USD 40.67 billion in 2023 and is poised to exceed USD 111.95 billion by the end of 2036, growing at over 8.1% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of photonic sensors & detectors is estimated at USD 43.31 billion.

The growth of the photonic sensors & detectors market is primarily attributed to the rising innovation in fiber optics and growing use of sensors in various industries, backed by their high performance. Further, rising demand for fiber optics is also expected to drive the market growth. According to the statistics by the International Trade Center, the value of imports of optical fibers grew from USD 2027718 thousands in the year 2020 to USD 2348132 thousands in the year 2021.

Photonic sensors & detectors are the devices that captures light and converts it to an electric signal. It is frequently used to transmit and detect light simultaneously through fiber optics and certain other optical components. The development of illumination and image sensors, LED flashes, lasers, and other electro-optical equipment is significantly accelerating owing to the expansions in fiber optics technology, which is expected to spur photonic sensors & detectors market growth.