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The global tools and components for photonic applications market will grow from nearly $10.6 billion in 2016 to $19.2 billion by 2021 with a compound annual growth rate (CAGR) of 12.7% for the period of 2016-2021. This market report covers only photonic sensors and detectors.
This report provides an overview of the global market for microelectromechanical systems (MEMS), which consist of sensing devices that integrate mechanical elements, sensors, actuators, and electronics on a common silicon substrate, and typically have dimensions in the 1-micron to 100-micron range; as well as biosensors and nanosensors. The global market for microsensors reached nearly $9.9 billion in 2014 and totaled almost $10.9 billion in 2015. The market should reach more than $18.9 billion in 2020, a compound annual growth rate (CAGR) of 11.7% between 2015 and 2020.
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