Lasers have been used for more than four decades for a variety of applications. When first developed, they were referred to as solution seeking a problem. Nothing could be further from the truth as they rapidly are emerging as devices for solving numerous engineering problems. Benefits of lasers derive from their monochromatic, directional, and coherent characteristics.
Over the past 20 years, rapid development in fiber-optic communications has opened the way for creating high-sensitivity control and measurement systems based on fiber light guides. These systems possess a number of advantages by comparison with electronic systems.
They may be used in the presence of unfavorable environmental conditions, such as noise, strong electromagnetic fields, high voltages, or nuclear radiation, in explosives or chemically corrosive media, at high temperatures, as well as for noncontact fiber-optic probing in the investigation of anomalous phenomena and hard-to-reach objects, including objects at a distance of up to 300 km.
The features of miniaturization and flexibility, and the fact that losses in the transmission of optical signals are low in these devices underscore their great promise. The use of such systems, for example, in medicine, has made it possible to perform research studies in real time.
The market for laser materials and components is highly fragmented and competitive. Yet, venture capitalists and public investors alike are exhibiting renewed enthusiasm for the optics industry. There recently have been a number of IPOs involving optics, laser, and related companies, and laser, optics & photonics companies are finding new and increasingly creative ways to drum up investors. This is occurring in the laser industry and the optical telecom industry.
Revenues associated with optics and photonics products have recently been over $300BB. The driving force behind these revenues continues to be the successful penetration of display-based products and technologies into both the consumer and computer markets, with much of the growth in the components segment being driven by solar cells (24%), display modules (20%), and sources and detectors (10%). Telecom and datacom markets have strengthened in recent years, and real excitement exists that optoelectronics components are beginning to be utilized in high-volume consumer, entertainment, and computing-based products.
As the lasers, optics & photonics technologies markets continue to grow, new inventions and innovations will continue to occur. However, there are still a variety of segments that have not garnered significant investment capital due to market immaturity, and in some cases, a lack of sustainable business models.
Strong patent rights are imperative to encourage investments in R&D and for commercialization of lasers, optics & photonics technologies. Small innovative firms rely on patent rights to build businesses around lasers, optics & photonics technologies.
Patent rights also encourage established manufacturers to invest in these new technologies to improve existing product lines. These patented technologies cover a broad spectrum of inventions including lasers, optics & photonics technologies.
