Nanophotonics Market: Rising Adoption of Innovative Technologies To Spur Market Size

31-Jul-2018 | Zion Market Research

Nanophotonics is the blend of nanotechnology, optoelectronics, and photonics offering beneficial features such as elongated operational life, high thermal resistance, and power efficiency. The escalating need for improving battery life, data transmission, speed, and functions of the product is likely to drive the use of Nanophotonics in these products. Furthermore, Nanophotonics offers its users with high optical bandwidth and highly energy-efficient designs. 

Growing demand for innovative technologies in consumer electronics, solar power conversion systems, and telecommunications are likely to propel the expansion of Nanophotonics market. However, increase in the raw material costs along with R&D costs and equipment costs are likely to restrain the industry growth. 

Burgeoning requirement to save energy has resulted in the use of Nanophotonics-based products such as light emitting diodes, near field optics, holographic memory, organic light emitting diodes, photovoltaic cells, optical amplifiers, and optical switches. This, in turn, is expected to create lucrative avenues for the Nanophotonics industry over the years to come. 

With a possibility of Nanophotonics finding applications across solar cells, optical microscopy, spectroscopy, and bio-imaging, it is likely that the new technology will dominate next-generation technologies. The components of Nanophotonics comprise of nanotubes, quantum dots, photonic crystals, plasmonics, and nanoribbons. 

Recently, a team of researchers at Rice University in the U.S. is expected to carry out more research on the desalination technology making use of nanoparticles and sun rays for treating water. This new technology termed as Nanophotonics –based solar membrane distillation that is constructed on membrane distillation through incorporation of light-capturing nanoparticles directly into the membrane. 

Earlier, outcomes from the experiments conducted on lab-scale models displayed that NESMD can desalinate water at rate of approximately 6 liters/ hr for each square meter of light-harvesting membrane. The Nanophotonics –based solar membrane distillation maker has declared that the team is likely to create advanced off-grid systems to provide water where it is most required. The strategic move is likely to display the gains of the use of Nanophotonics based systems, thereby further impelling the business scope over the next few years. 

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