NEW YORK, Dec. 1, 2016 /PRNewswire/ -- Photonics is the technology of generating and harnessing light and other forms of radiant energy whose quantum unit is the photon. The science of photonics includes light emission, transmission, deflection, amplification, and detection by optical components and instruments, lasers, and other light sources, fibre optics, electro-optical instrumentation, related hardware and electronics, and sophisticated systems. Photonic sensor is a device that senses light and converts to electricity. Photonics acts as a switch between the transmitter and receiver. A photonic detector counts the number of photons of light. The global photonic sensors and detectors market is likely to witness a CAGR of 7.2% during the forecast period (2016 - 2026). Global expansion in fibre optic communication likely to fuel market growthVarious government initiatives, increasing adoption of industrial automation solutions in the manufacturing industry, and increased investment in fibre optic communications are major drivers for the growth of the global photonic sensors and detectors market. Continuous investment and development of new technologies in medical devices and a rapid proliferation of the Internet of Things (IoT) is creating ample growth opportunities for major players in the global photonic sensors and detectors market. Leading players in the global photonic sensors and detectors market are faced with major challenges that force them to reduce profit margins from image sensors, thereby affecting profitability. Also, a lengthy regulatory approval and technology assessment process pertaining to new product development is likely to restrict growth of the global photonic sensors and detectors market during the forecast period.