The market for photonics is gradually growing where the Asian market has MNCs located in all major regions in the world. There are also small firms wh

RNCOS, The market for photonics is gradually growing where the Asian market has MNCs located in all major regions in the world. There are also small firms which serve regional markets. The market of nanophotonic devices in the world is expected to grow at an average annual growth rate of 85.8% from $420.7 million in 2004 to $9.325 billion in 2009. By 2009 this market would rise from current level of 4% to 96% in the next five years. Large investments are being made in nanotechnology industry owing to increasing demand for photonics in new applications like back light use in mobile phones, liquid crystal displays and traffic lights. Governments are determined to develop photonics and nanotechnology industries by exploiting technologies like biotechnology, new materials to leverage growth and competency. Nanophotonics is broadly a part of Photonics. Photonic devices have applications in areas of telecommunication, energy and life sciences. Nanophotonics consists of the interaction of light with nanoscale structures and materials. The Photonics or Optics industry is found to be valued at $91 billion with a projected rise of $300 billion by 2015 and then further reaching to $710 billion in 2005. The World Nanotechnology Market 2005 Publ 2006018