A research report recently published by MarketsandMarkets has predicted that the global nanophotonics market will be worth $3.6 billion (£2.2 billion) by 2014.
According to the authors of the report, the Asian market will account for nearly 74 per cent of the total revenues by this time, or $2.7 billion (£1.6 billion).
While photonics and optoelectronics have had an undeniable impact on the electronics and semiconductors industry, nanotechnology has emerged as the hottest technology for large companies and research laboratories.
Nanophotonics is therefore expected to break into the mainstream market in the near future, due to its potential for higher power efficiency, thermal resistivity and operational life.
The MarketsandMarkets report also states that the LED market is the largest segment of the industry and is expected to reach $2.7 billion by 2014 with a compound annual growth rate of 91.3 per cent.
Research and Markets recently added a report on low-power next-generation display technology to its offering, which discusses LED, OLED and FED display types.