Sand Blasting Machines Market Size Worth $441.1 Million by 2020

The global sand blasting machines market is expected to reach USD 441.1 million by 2020, according to a new study by Grand View Research, Inc. Breakthroughs in robotic sand blasting technology as a result of investments by key industry participants is expected to drive the market over the forecast period. Increased demand from end-use industries such as construction, automotive, and aerospace is expected to favorably impact market growth.

Shot blasting machines have replaced sand blasting machines in several applications to alleviate the risk of lung diseases caused due to inhalation of silica, which may pose a challenge to market growth. Governments of many countries such as the U.S., UK and Turkey have restricted the use of blast cleaning abrasives containing more than 0.1% free silica, which may hamper demand over the next six years.

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Further key findings from the study suggest:

  • Global sand blasting machines market shipments were estimated at 86,018 units in 2013, which is expected to reach 121,845 units by 2020, growing at a CAGR of 5.1% from 2014 to 2020.
  • Industrial sand blasting machines accounted for over 80% of the market revenue in 2013. The mini sand blasting machines market is expected to gain prominence over the next six years as sandblasting has substituted numerous domestic tasks such as paint and rust removal.
  • Sand blasting machines market demand is expected to be the highest in Asia Pacific owing to extensive use in construction, automotive, and infrastructure sectors coupled with significant contribution by the Chinese market to global volume and revenue generation. Demand for mini sand blasting machines is higher in North America, where they are used for automotive as well as home improvement applications.
  • The market is extremely fragmented in nature; Clemco Industries Corp. emerged as the leading market player in 2013. The company sells blasting machines under four distinct brands, each catering to a specific application area, and also develops equipment targeted at operator safety. Other market players include Trinity Tool Company, Tools USA, C.M. Surface, and ACE.

Thermal Imaging Market Size Worth $6.50 Billion By 2020

Global thermal imaging market size is poised to reach USD 6.50 billion by 2020 at a CAGR of 9.1%, according to a new report by Grand View Research, Inc. increasing demand for low-cost devices owing to its widespread applications. Commercialized thermal imagers resulting from the development of microbolometers expected to augment the growth of the market over the forecast period.

In addition to increasing demand in industrial and commercial sectors, thermal imaging devices are also used across several security and surveillance applications. Moreover, increasing adoption of integrated solutions across commercial applications would further fuel the growth of the industry. Furthermore, the use of thermal imaging in high-resolution camera and smartphone is expected to bolster further the growth of the industry.

Thermal Imaging application in commercial segment is also poised to experience growth over the next few years. Growth can be attributed to increasing the use of thermal imaging devices across various applications such as surveillance and security, thermography and transportation systems.

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Defense & Military was the dominant application segment in 2013 and accounted for over 40% of thermal imaging market during the same period. The thermal camera is used extensively by ground forces in the military to improve situational awareness. However, decreasing defense spending in developed markets would prove to be a restraining factor for the growth over the projected period.

North America was the largest regional market in 2013 and accounted for over 30% of the market. Growing industrial and commercial sectors are expected to fuel the market growth over the forecast period. The extensive use of thermal imaging sensors in security products and rising demand for safety and surveillance applications is expected to drive demand in Europe. Asia Pacific is also expected to witness significant growth owing to rising defense budget.

The market is highly competitive and is characterized by cost minimization strategies by key industry players. The companies emphasize on continuous innovation and R&D to outpace the competition. In the industry, there is a high degree of integration between the manufacturers and suppliers. Manufacturers focus on global deployment, technological innovation, and unique products to cater to growing demand. Furthermore, increasing focus on scaling production which leads to reduced product cost due to economies of scale is expected to propel demand over the next few years.

Key players in the industry include BAE Systems Inc., FLIR Systems Inc., Raytheon Company, and DRS Technologies Inc. Optimizing manufacturing throughput along with greater product reliability through vertical integration of production activities is expected to be a key growth driver.

X-Ray Security Screening Market Size Worth $2.89 billion By 2020

The global x-ray security screening market size is expected to reach USD 2.89 billion by 2020, according to a new study by Grand View Research, Inc. Threats pertaining to piracy, drug trade, cross-border terrorism, human trafficking, etc., are anticipated to fuel global x-ray security screening market demand over the forecast period. The risk of terrorist attacks has driven investment in aviation security. Further, illegal arms, drug trafficking, and immigration have heightened border security, which is expected to favorably impact the demand for body & baggage screening systems and explosive detection systems.

The sales of x-ray security and inspection systems significantly rely on the decision of governmental agencies to upgrade or expand existing border crossing inspection sites, airports, seaport inspection sites, military facilities, and other security installations. The decision of governmental agencies to incorporate new systems or to upgrade existing infrastructure plays an important role in driving market demand. Further, the aviation sector has to keep pace with the evolving travel environment by adopting several security measures, which is expected to drive the x-ray security screening market over the next few years. The development of flexible security screening systems in order to address terror threats is also anticipated to fuel market demand. In addition, upgrades for existing installations provide opportunities for market growth. However, ionizing radiations generated by x-ray security scanners are known to be carcinogenic and may hinder market growth over the forecast period.

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Further key findings from the study suggest:

  • The transit sector is poised for high growth over the forecast period. X-ray security screening systems are primarily used for baggage screening and account for substantial usage across the civil aviation sector.
  • X-ray security screening exhibits high penetration in the government sector and accounted for substantial market share in 2013. Upgrades for existing installations are expected to drive the regional market demand, particularly across the border security application. The decision of governmental agencies to incorporate new systems or to upgrade existing infrastructure plays an important role in driving market demand.
  • Product screening accounted for considerable market share in 2013, with significant demand originating from the cargo and baggage screening applications.
  • North America accounted for a sizable share of the global x-ray security screening market in 2013. The Homeland Security Department has invested heavily in U.S. customs and border security, which is expected to catapult the segment demand over the forecast period.
  • A few key industry participants, including OSI Systems (Rapiscan), Smiths Detection, American Science and Engineering, Morpho Detection and Analogic Corporation are constantly innovating with considerable R&D investments to gain competitive advantage, and maintain strong market position.

Smartwatches Market Size To Reach $19.62 Billion By 2020

The global smartwatches market is expected to reach USD 19.62 billion by 2020, according to a new study by Grand View Research, Inc. Growing companion device demand is expected to give impetus to demand for smartwatches. Increasing percentage of health/fitness conscious population has resulted in high demand for wearable fitness monitoring and tracking devices, including smartwatches.

The number of industry participants is expected to increase manifold over the next six years. In addition to startups, the expected entry of established companies is estimated to significantly fuel market growth. Ensuring usability and visual appeal is a critical factor for enabling product adoption on a global level. Furthermore, managing the tradeoff between battery life and performance is critical for profitability.

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Further key findings from the study suggest:

  • Global smartwatch shipments were close to 2 million units in 2013, and are expected to reach 135.3 million units by 2020, at a CAGR of 53.5% from 2014 to 2020.
  • High-end smartwatches accounted for approximately 90% of the global market in 2013. This segment is expected to lose market share to the mid-end and low-end segments over the forecast period. This can be attributed to the expected trend of decreasing selling prices with a growing number of manufacturers. Majority of consumers have been reluctant to invest in premium priced products on account of unclear benefits and lack of a value proposition.
  • North America accounted for the highest market share of 35% in 2013; this is mainly due to higher purchasing power as well as increasing demand for fitness tracking equipment. Asia Pacific is expected to be the fastest growing regional market over the next six years. The regional market is expected to be driven by high smartphone proliferation and usage of Internet services.
  • Industry participants include Samsung Electronics (Galaxy Gear), Pebble, Sony Corporation, Google Inc. and Qualcomm Inc. among others. R&D activities to drive innovation have been the key growth strategy for these companies. Established companies are expected to benefit from growing smartwatches demand, and drive revenue generation over the forecast period.

CMOS Image Sensors Market Size Worth $10.17 Billion By 2020

The global CMOS image sensors market size was valued at USD 7.21 billion in 2013 and is likely to be worth USD 10.17 billion by 2020. Increasing demand for handheld equipment such as tablets and smartphones has initiated the development of smart sensing approaches with remote diagnostic and monitoring capability.

Global market was 1,601.8 million units in 2013 and is anticipated to reach 2,643.4 million units, growing at a CAGR of 7.5% by from 2014 to 2020. The industry has observed tremendous growth over the past few years owing to the growth of its application industries, particularly medical and automotive. In addition, technological innovations leading to the evolution of refined sensing technology are expected to drive growth.

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Dexterity to manufacture smaller pixel devices and provide high resolution with cost effective approach is expected to be one of the primary factors driving growth. Rising demand for computation and communication equipment has led to a growing need to develop upgraded processes for better optical administration. The requirement for on-chip integration and focal plane processing are still on improvement phase.

Consumer electronics was the largest application accounting for over 50% of the total market revenue in 2013. These sensors are widely used in numerous consumer electronic devices including entertainment devices, home appliances, communication products, and information technology. The CMOS image sensors market for consumer electronics is likely to grow at a CAGR of 3.3% from 2014 to 2020.

With an increasing focus on research & development, sensing equipments have become smaller, cheaper, and more power-efficient, which serves as a gratifying opportunity for industry players. This is particularly beneficial to the healthcare industry as these products help in improving diagnostics and provide appropriate treatments that rely on this technology. Medical applications are anticipated to grow at a CAGR of 9.9% from 2014 to 2020.

Multimedia-enabled equipment provides more benefits with more data safety over the internet. The application of sensing devices for indoor navigation, health monitoring, and related niche segments is anticipated to offer prominent growth opportunity for prosperity of this market. These gadgets are predominantly used in the U.S., however, the market is anticipated to witness significant gains in emerging economies such as China, India, and Brazil.

North America CMOS image sensors market exceeded 30% of the total revenue share in 2013. Focus on technological advancement coupled with high adoption rate of new technologies and gadgets have resulted in established of a large market in the region. However, the market has reached its maturity phase and is anticipated to grow at a CAGR of 4.1% from 2014 to 2020.

Asia Pacific is expected to witness significant gains over the forecast period at a CAGR of 6.6% from 2014 to 2020. The market was valued at USD 2.37 billion in 2012. Availability of large number of semiconductor manufacturers in Asia Pacific, especially in Japan, China and Korea, is projected to bolster market growth in this region. Presence of cheap labor and establishment of production facilities by foreign organizations are anticipated to favorably affect industry growth in this region. Growing demand for latest gadgets owing to increase in disposable income of consumers is anticipated boost market growth to reach an estimated value of USD 3.95 billion by 2020.

Key players include OmniVision Technologies, Sony Corporation, Canon Inc., and Samsung Electronics. Sony Corporation and Samsung Electronics are projected to dominate the CMOS image sensors market in the near future. Companies are constantly engaging in research & development to introduce innovative products in the market.

Samsung Electronics Co. Ltd. has announced its new 8-megapixel R-W-B sensing device based on ISOCELL and NFC integrated circuit technology with advanced frequency performance.In March 2015, OmniVision Technologies Inc. launched the OV8865, a CMOS image sensor positioned on OmniBSI-2 pixel planning. It is utilized in high speed photography with low power consumption application. Samsung Electronics Co. Ltd. introduced a 280-megapixel APC-C image sensor, which employs advanced 65-nanometer and illuminated pixel technology to implement energy-efficiency and better picture aspect.

Fitness equipment market size to grow at 3.6% CAGR from 2015 to 2022

The global fitness equipment market is anticipated to reach USD 13.24 billion by 2022. Key factors that are expected to fuel growth include urbanization leading to changing lifestyles, growing awareness of health & wellness and drastic increase of obese population.

Emerging economies have been observing growing trend for healthcare programs across all segments. In addition, governments in these countries are persistently attempting to conceptualize and establish effective healthcare plans. The introduction of new fitness regimes and healthcare programs across various corporates to encourage employees is expected to trigger growth. Fitness equipment market is projected to grow at a CAGR of 3.6% from 2015 to 2022.

On the basis of equipment type, the industry is segmented into strength training, cardiovascular and devices such as trackers & monitors. Commonly used equipment across all age groups to maintain fitness and manage weight include stationary bicycles, treadmills, weightlifting machines and stair climbers.

Demand for cardiovascular training devices is comparatively greater than strength training devices on account of dual benefit of well-being and disease prevention. Cardiovascular training devices are estimated to strengthen their hold on the industry in the next seven years and grow at a CAGR exceeding 3.0% from 2015 to 2022 owing to its increased adoption. Cardiovascular training devices such as treadmills, stair machines, and rowing machines stair machines. They are extensively used to keep Body Mass Index (BMI) within limits and maintain body fitness. 

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Health clubs and gyms accounted for nearly 45.0% of total market share and dominated the market in 2014 as they form an essential prerequisite for health clubs. However, home users buy different equipment for their use. Purchase of these devices by commercial firms such as hospitals, hotels, and corporate offices to enhance customer experience is also expected to drive growth in the market.

Asia Pacific is a lucrative market with a high requirement for advanced and sophisticated fitness equipment. It is projected to grow at a CAGR of over 7.0% from 2015 to 2022. Outsizing youth population coupled with increasing disposable incomes in emerging economies is anticipated to propel growth.

North America is expected to be a major market for this industry owing to rising overweight population. North America acquired nearly 45.0% of the total industry share in 2014 and is expected to continue the trend over the forecast period at a CAGR of over 2.0%.

Firms in this business are very competitive and strategize by introducing updated version of existing products or launching newer and improved equipment. Key strategies being adopted by the companies include product innovations and exclusivity owing to technological enhancements. Market players engage in forming alliances to gain market share and dominate the industry. It includes Cybex International Inc., Brunswick, Johnson Health Tech., Paramount, Precor and Nautilus Inc.

Service robotics market to grow at 23.7% CAGR from 2014 to 2020

The global service robotics market is projected to reach USD 15.69 billion by 2020, at an expected CAGR of 23.7% from 2014 to 2020. The demand for the global service robotics is anticipated to surpass 18 million units by 2020. The major factor driving the industry is the rising occurrences of supported living and the demand to fight against increasing costs of labor in the developed countries.

Good friends. Girl in orange shirt and robot spending time together

The foremost advantage offered by service robotics includes assistance in carrying out those tasks which would otherwise have been tough and risky. Moreover, the ordinary routine tasks can be effortlessly dealt with having a high degree of accuracy with the help of these devices.

The global industry has witnessed a massive growth in the number of companies trying to enter the industry and gain share by evolving and refining their automation techniques. The components involved in the manufacturing these machines include microcontrollers, actuators, manipulators, sensors, and power supply.

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In 2013, personal robots had the highest share of the market regarding volume. However, the highest revenue generating segment included professional robots. These professional service robots accounted for over 70% of the global market in that year. Professional service robots are further segmented into field, medical, defense, and logistic robots. Out of these, in 2013, the defense professional service robots led the global industry concerning revenue generation and accounted for over 40% of the total revenue. This was due to their utilization of unmanned aerial vehicles.

North America emerged as the largest market in 2013, accounting for more than 35% of the overall volume share. The U.S. was the primary revenue generator of North America. This high growth in the region can be attributed to the quick rise in the development of production capacities as well as industrialization. Furthermore, the rapidly growing automotive industry in North America is also projected to drive the demand for the overall industry.

The global service robotics industry is highly branded as there is intense competition between the specialized service robot manufacturers and the industrial robot manufacturers. The major corporations operating in the market include Samsung Electronics, Toyota Motor Corporation, Hanool Robotics Corp, Honda Motors Co. Ltd. Other participants include GeckoSystems, Yujin Robot, iRobot Corporation, AB Electrolux, Fujitsu Frontech Limited, LG Electronics Inc., and Sony Corp. Over the next six years, companies including Amazon, Google, and Apple are also expected to enter into the global service robotics market.

Automotive lighting market to grow at 12.0% CAGR from 2015 to 2022

The automotive lighting market is anticipated to reach USD 34.65 billion by 2022. Strict government policies and rising safety concerns are likely to propel growth over the forecast period. In addition, growing consumer awareness concerning the significance of adaptive lighting including dynamic bend light and a glare-free high beam is also expected to have a positive impact on the exterior lighting market. 

Increasing apprehensions about using energy-efficient methods coupled with rising consumer disposable income are expected to drive the industry. In addition, growing demand for vehicles and technological advancements in the automotive industry is expected to propel utilization. Attractive growth opportunities for new entrants are expected in the industry owing to the growing number of total vehicles purchased y-o-y across BRIC nations. However, there is a need for legislative authorities to collaborate with light sourcing technology suppliers to develop flexible design techniques. 

THE Automotive LED market is estimated to demonstrate considerable growth at a CAGR of over 12.0% from 2015 to 2022. Halogen lights contributed to over 66.0% of overall industry revenue in 2014, followed by LED and xenon. It has gained prominence on account of easy availability, low purchasing costs, and low replacement costs. However, rising fuel prices are expected to pose a threat to the industry. 

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The increase in demand for eco-friendly LED technologies on account of high efficiency, reduced CO2 levels, and high power, is expected to propel growth. Companies have been trying to develop eco-friendly LEDs to promote product differentiation and strengthen their global foothold. LEDs are used in daytime running lights (DRL), parking light, brake lights, and turning lights. LEDs are preferred over xenon and halogen lights owing to optimum light-bearing capacities and improved design, which lead to increased shelf life. 

The adaptive headlight is an active safety feature that is intended to enhance the drivers’ visibility in poorly illuminated areas. It encompasses functionalities including automatic rotation which can sync with sensors and adjust brightness and intensity of light. The front lighting segment accounted for over 70.0% of the total revenue in 2014 owing to the availability of advanced features including automatic rotation which can sync with automatic brightness modules and sensor response. Extreme climatic conditions in Europe and North America are expected to trigger demand for fog lights over the forecast period. 

The automotive lighting industry in Asia Pacific is estimated to grow at a CAGR of over 8.0% and acquire a market share of about 45.0% over the forecast period. The continuous expansion of suppliers coupled with a vast production base is expected to position this region as the market leader. Countries including India, Japan, and China account for the major production base for vehicles globally, thus offering extensive growth opportunities. 

Key companies including Hella KGaA Hueck & Co., Koito Manufacturing Co., Magneti Marelli S.p.A and Valeo. Vendors usually employ the strategy of new product development and mergers & acquisitions to enter new markets. The introduction of low-cost LEDs and energy-efficient alternatives is foreseen as a cost-effective strategy for the industry.

Image Sensor Market Size To Reach $26.41 Billion By 2024

The global image sensor market is anticipated to reach USD 26.41 billion by 2024, according to a new report by Grand View Research, Inc. The industry is poised for unprecedented growth over the forecast period owing to the rising expenditure on security & surveillance in public places across regions and increasing disposable income across the emerging and developing economies. The impact of information technology in the automotive, defense, medical, and industrial application has driven the demand for image sensors over the projected period.

The increasing adoption of technologies for improving anti-terror equipment mitigating the security lapses has demanded better camera resolution, which has further enhanced the market growth. The IP cameras are expected to have significant growth over the forecast period as compared to analog cameras, which is due to higher resolution, secure transmission, ability to cover more distance, high-speed recording, and lower cable cost. Consumer electronics is expected to be the key application segment having significant penetration and is also anticipated to grow at a considerable rate over the forecast period. The leading companies in the market are seeking new revenue sources as the smartphone market is attaining maturity. This has resulted in increased demand for image sensors in the wearable industry and other applications.

The increasing R&D expenditure on the deployment to have raw material access is expected to compel the backward integration at the buyer’s end. For instance, Beijing-based Hua Capital Management Co., Ltd. planned to acquire U.S-based OmniVision Technologies, Inc. in 2016 to overcome the supply shortage in the market.

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http://www.grandviewresearch.com/industry-analysis/image-sensors-market

Further key findings from the report suggest:

  • The image sensor market is anticipated to witness considerable growth over the projected period owing to the increasing awareness of early diagnosis. Moreover, a growing number of diagnostics imaging procedures have increased the demand for imaging systems in healthcare facilities.
  • The CMOS technology is anticipated to grow at a significant CAGR over the projected period owing to the characteristics such as low power consumption, high immunity to noise, and less emission of waste heat.
  • Consumer electronics is anticipated to gain the highest revenue over the forecast period owing to the wide applications in devices such as wearables, tablets, notebooks, PCs, webcams, gaming consoles, and so on.
  • The industrial/defense application is anticipated to witness a CAGR of over 15.2% over the forecast period. The growth is attributed to the increased defense spending by countries across the region. The increasing performance of the high-end CMOS technology is competing with the CCD technology on the factory floors. Reducing the cost of mainstream cameras and sensors allows the vision to be used effectively in industrial applications.
  • The North American image sensor industry is anticipated to have significant growth over the forecast period. The increasing per capita healthcare expenditure and prevailing large consumer base have influenced the growth in the region.
  • The key players in the image sensor market include OmniVision Technologies, Inc., (U.S.), Toshiba Corporation (Japan), and Pixart Imaging, Inc. (China). Companies are focusing on developing new products to enhance their market share.

Photonics Market Projected To Reach $979.90 Billion By 2024

The global photonics market size is expected to reach USD 979.90 billion by 2024, according to a new report by Grand View Research, Inc. The prospects for market growth can be attributed to rapid innovations in the industry for the development of technologically-enhanced products and related services, as well as growing opportunities for the new market development.

Photonics is regarded as one of the Key Enabling Technologies (KETs) in the recent past, leading to the development of new products and services with substantial economic benefits. The broad diversity of devices with photonic-based components is expected to impact the global demand for this technology positively. Photonics is a technologically advanced field, being at the forefront of innovation and R&D and is thus presumed to incorporate substantial growth prospects over the forecast period.

The industry encompasses a broad scope of applications based on photonic-based products, which are anticipated to drive the dynamic emergence of new economic activities in the potential markets. The emergence of green and sustainable photonic-based solutions, such as Photovoltaic (PV) solar cells, is envisioned to drive the industry over the forecast period, owing to the increasing support by both local governments and consumers.

The industry encompasses substantial opportunities for growth over the next eight years. The key impact of photonics technology on energy supply is presumed to offer enhanced PV efficiency in the next-generation solar cells to make PV cost-competitive with fossil fuel electricity generation. Advanced products, such as polycrystalline silicon PV, thin film PV, dye-sensitized PV, and further new developments, such as embedding nanoparticles into solar cells and nanostructure substrates, are expected to boost the demand for photonic components in renewable energy sources over the forecast period.

However, significant initial investments and absence of proper international standards in the technology are expected to challenge the industry growth over the forecast period. The high cost of technology and risk of thermal effect haveled to the limited commercialization of this technology worldwide. Moreover, technology obsolescence and growing presence of counterfeit technologies across the globe are anticipated to challenge the industry growth in the near future.

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http://www.grandviewresearch.com/industry-analysis/photonics-market

Further key findings from the report suggest:

  • Light Emitting Diodes (LEDs) accounted for approximately 10% of the overall market share in 2015 and are presumed to grow at a considerable rate over the forecast period owing to the introduction of new legislations and policies worldwide to boost the adoption of highly efficient and renewable energy devices. LEDs are energy-efficient, high-performance, and environment-friendly alternatives to traditional light bulbs. Further developments alongside organic and inorganic LEDs, such as light emitting nanowires and quantum dots, and large areas light-emitting plastics, are presumed to boost the demand over the next eight years.
  • Lasers are anticipated to witness a substantial growth over the forecast period, growing at an estimated CAGR of over 7% from 2016 to 2024. The growth in this segment can be primarily attributed to rapid developments in the industry to incorporate miniature laser projection units as a light source in next-generation pico-projectors. Lasers are being increasingly used in the production of textiles and clothing as well as fine chemicals and pharmaceuticals.
  • Displays are anticipated to emerge as a predominant application segment over the next eight years owing to increasing developments of sharper, better color, energy-efficient, cheaper, and thin display devices. The increasing adoption of flexible displays, miniaturized displays, holographic displays, enhanced touch, and motion feedback displays are anticipated to lead to new product development and enhancement of existing products.
  • In terms of revenue, North America dominated the global photonics market in 2015 and is expected to retain its dominance over the forecast period. The demand in this region is mainly driven by the increasing adoption of advanced technologies. The U.S. is presumed to encompass significant investments in the form of public spending and government funding for the R&D of photonic-enabled technologies. Europe is presumed to witness a considerable growth over the forecast period, owing to the growing establishment of research facilities for further development of thistechnology.