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Photon Counter Market by End-user and Geography - Forecast and Analysis 2022-2026

  • Published: May 2022
  • Pages: 120
  • SKU: IRTNTR46697
Technavio

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The photon counter market share is expected to rise by USD 43.12 million in 2026 at a CAGR of 7.65%. This market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches.

The photon counter market report extensively covers market segmentation by the following:

  • End-user - Medical imaging, fluorescence microscopy, LiDAR and SLR, and others
  • Geography - North America, Europe, APAC, Middle East and Africa, and South America

The photon counter market report also offers information on several market vendors, including ADVACAM Oy, AUREA Technology, Becker and Hickl GmbH, Hamamatsu Photonics KK, Hidex Oy, ID Quantique SA, Laser Components GmbH, Micro Photon Devices Srl, PerkinElmer Inc., PicoQuant GmbH, Thorlabs Inc., and Tibidabo Scientific Industries Ltd. among others.

What will the Photon Counter Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Photon Counter Market Size for the Forecast Period and Other Important Statistics

 

Photon Counter Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The growing application of structural health monitoring (SHM) systems is notably driving the photon counter market growth, although factors such as capital-intensive nature and economic conditions may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the photon counter industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Photon Counter Market Driver

  • One of the key factors driving the global photon counter industry growth is the growing application of structural health monitoring (SHM) systems.
  • The rise in urbanization, especially in developing countries has increased the number of infrastructure projects such as the construction of dams, bridges, buildings, and towers.
  • SHM systems monitor the infrastructures, collect data, and make informed decisions.
  • SHM enables real-time monitoring of structural changes, which helps organizations reduce costs by undertaking preventive measures.
  • The infrastructure development sector and the oil and gas industry will be highly affected by the adoption of SHM systems, as SHM is becoming a standard for monitoring the condition of the structures.
  • The growing application of SHM systems is expected to drive the growth of the global photon counter market during the forecast period.

Key Photon Counter Market Trend

  • Internet of Things (IoT) advantage is one of the key photon counter market trends that is expected to impact the industry positively in the forecast period.
  • The role of sensors in video monitoring is crucial and determines the effectiveness of IoT in terms of enhancing security measures for end-users.
  • IoT makes extensive use of sensor technologies and provides enhanced security and minimum human intervention.
  • Sensors would be utilized in the networked lighting system to provide relevant insights.
  • Temperature controls integrated with lighting solutions can provide optimized performance.
  • The growing market presence of IoT will increase the demand for photon counters, as photon counters are used in image sensors and imaging devices for better output.
  • The IoT advantage of photon counters is expected to drive market growth in the forecast years.

Key Photon Counter Market Challenge

  • One of the key challenges to the global photon counter industry growth is the capital-intensive nature and economic conditions.
  • The market is sensitive to price fluctuation and global economic conditions.
  • The cost of components such as dielectric materials is very high, and it requires technical expertise to set up or commission new photon counters.
  • The process of manufacturing different types of photon counters involves the use of distinct components that are unique to that type of photon counter.
  • The threat of the photon counter market includes unfavorable economic conditions and political issues that lead to reduced product sales.
  • The capital-intensive nature of photon counters is expected to reduce their adoption, thereby hampering the growth of the market during the forecast period.

This photon counter market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global photon counter market as a part of the global electronic equipment and instruments market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the photon counter market during the forecast period.

Who are the Major Photon Counter Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • ADVACAM Oy
  • AUREA Technology
  • Becker and Hickl GmbH
  • Hamamatsu Photonics KK
  • Hidex Oy
  • ID Quantique SA
  • Laser Components GmbH
  • Micro Photon Devices Srl
  • PerkinElmer Inc.
  • PicoQuant GmbH
  • Thorlabs Inc.
  • Tibidabo Scientific Industries Ltd.

 

This statistical study of the photon counter market encompasses successful business strategies deployed by the key vendors. The photon counter market is fragmented and the vendors are deploying growth strategies such as innovation and product improvement to compete in the market.

Product Insights and News

  • ADVACAM Oy - The company offers photon-counting detectors for the mining industry. 
  • ADVACAM Oy - The unified segment focuses on semiconductor sensor manufacturing and micro packaging to radiation imaging cameras, as well as the development of imaging solutions for industrial and academic needs. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The photon counter market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Photon Counter Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the photon counter market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Photon Counter Market?

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38% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for photon counters in North America. Market growth in this region will be faster than the growth of the market in South America, Europe, and MEA.

The high adoption rate of photon counters in the manufacturing industry, industrial automation, and the increasing demand for devices such as photon counters in the research industry will facilitate the photon counter market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the revenue growth of the photon counter market in North America witnessed a slowdown, owing to the outbreak of the COVID-19 pandemic. However, the increase in the prevalence of medical imaging owing to detecting the COVID-19 infection positively impacted the growth of the regional market. Additionally, the increase in R&D activities in medical imaging, such as X-rays, will propel the growth of the market during the forecast period. Thus, the photon counters market in North America is anticipated to witness significant growth during the forecast period.

What are the Revenue-generating End-user Segments in the Photon Counter Market?

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The photon counter market share growth by the medical imaging segment will be significant during the forecast period. Vendors in the global photon counter market, which cater to the medical imaging industry, are constantly improving their product quality. Several vendors are developing devices such as advanced photon-counting detectors that can detect and characterize individual X-ray photons, which will support the segment growth.

This report provides an accurate prediction of the contribution of all the segments to the growth of the photon counter market size and actionable market insights on post COVID-19 impact on each segment.

 

Photon Counter Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 7.65%

Market growth 2022-2026

$ 43.12 million

Market structure

Fragmented

YoY growth (%)

6.89

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

North America at 38%

Key consumer countries

US, Canada, China, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

ADVACAM Oy, AUREA Technology, Becker and Hickl GmbH, Hamamatsu Photonics KK, Hidex Oy, ID Quantique SA, Laser Components GmbH, Micro Photon Devices Srl, PerkinElmer Inc., PicoQuant GmbH, Thorlabs Inc., and Tibidabo Scientific Industries Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Photon Counter Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive photon counter market growth during the next five years
  • Precise estimation of the photon counter market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the photon counter industry across North America, Europe, APAC, Middle East and Africa, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of photon counter market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by End-user

    • 5.1 Market segments
      • Exhibit 24: Chart on End-user - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on End-user - Market share 2021-2026 (%)
    • 5.2 Comparison by End-user
      • Exhibit 26: Chart on Comparison by End-user
      • Exhibit 27: Data Table on Comparison by End-user
    • 5.3 Medical imaging - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Medical imaging - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Medical imaging - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Medical imaging - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Medical imaging - Year-over-year growth 2021-2026 (%)
    • 5.4 Fluorescence microscopy - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Fluorescence microscopy - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Fluorescence microscopy - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Fluorescence microscopy - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Fluorescence microscopy - Year-over-year growth 2021-2026 (%)
    • 5.5 LiDAR and SLR - Market size and forecast 2021-2026
      • Exhibit 36: Chart on LiDAR and SLR - Market size and forecast 2021-2026 ($ million)
      • Exhibit 37: Data Table on LiDAR and SLR - Market size and forecast 2021-2026 ($ million)
      • Exhibit 38: Chart on LiDAR and SLR - Year-over-year growth 2021-2026 (%)
      • Exhibit 39: Data Table on LiDAR and SLR - Year-over-year growth 2021-2026 (%)
    • 5.6 Others - Market size and forecast 2021-2026
      • Exhibit 40: Chart on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 41: Data Table on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 42: Chart on Others - Year-over-year growth 2021-2026 (%)
      • Exhibit 43: Data Table on Others - Year-over-year growth 2021-2026 (%)
    • 5.7 Market opportunity by End-user
      • Exhibit 44: Market opportunity by End-user ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 46: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 47: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 48: Chart on Geographic comparison
      • Exhibit 49: Data Table on Geographic comparison
    • 7.3 North America - Market size and forecast 2021-2026
      • Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.4 Europe - Market size and forecast 2021-2026
      • Exhibit 54: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.5 APAC - Market size and forecast 2021-2026
      • Exhibit 58: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.6 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 62: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.7 South America - Market size and forecast 2021-2026
      • Exhibit 66: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.8 US - Market size and forecast 2021-2026
      • Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.9 Germany - Market size and forecast 2021-2026
      • Exhibit 74: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.10 China - Market size and forecast 2021-2026
      • Exhibit 78: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.11 UK - Market size and forecast 2021-2026
      • Exhibit 82: Chart on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 83: Data Table on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 84: Chart on UK - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on UK - Year-over-year growth 2021-2026 (%)
    • 7.12 Canada - Market size and forecast 2021-2026
      • Exhibit 86: Chart on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 87: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 88: Chart on Canada - Year-over-year growth 2021-2026 (%)
      • Exhibit 89: Data Table on Canada - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 90: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 91: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 92: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 93: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 94: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 95: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 96: Matrix on vendor position and classification
            • 10.3 ADVACAM Oy
              • Exhibit 97: ADVACAM Oy - Overview
              • Exhibit 98: ADVACAM Oy - Product / Service
              • Exhibit 99: ADVACAM Oy - Key offerings
            • 10.4 Becker and Hickl GmbH
              • Exhibit 100: Becker and Hickl GmbH - Overview
              • Exhibit 101: Becker and Hickl GmbH - Product / Service
              • Exhibit 102: Becker and Hickl GmbH - Key offerings
            • 10.5 Hidex Oy
              • Exhibit 103: Hidex Oy - Overview
              • Exhibit 104: Hidex Oy - Product / Service
              • Exhibit 105: Hidex Oy - Key offerings
            • 10.6 ID Quantique SA
              • Exhibit 106: ID Quantique SA - Overview
              • Exhibit 107: ID Quantique SA - Product / Service
              • Exhibit 108: ID Quantique SA - Key offerings
            • 10.7 Laser Components GmbH
              • Exhibit 109: Laser Components GmbH - Overview
              • Exhibit 110: Laser Components GmbH - Product / Service
              • Exhibit 111: Laser Components GmbH - Key offerings
            • 10.8 Micro Photon Devices Srl
              • Exhibit 112: Micro Photon Devices Srl - Overview
              • Exhibit 113: Micro Photon Devices Srl - Product / Service
              • Exhibit 114: Micro Photon Devices Srl - Key offerings
            • 10.9 PerkinElmer Inc.
              • Exhibit 115: PerkinElmer Inc. - Overview
              • Exhibit 116: PerkinElmer Inc. - Business segments
              • Exhibit 117: PerkinElmer Inc. - Key news
              • Exhibit 118: PerkinElmer Inc. - Key offerings
              • Exhibit 119: PerkinElmer Inc. - Segment focus
            • 10.10 PicoQuant GmbH
              • Exhibit 120: PicoQuant GmbH - Overview
              • Exhibit 121: PicoQuant GmbH - Product / Service
              • Exhibit 122: PicoQuant GmbH - Key offerings
            • 10.11 Thorlabs Inc.
              • Exhibit 123: Thorlabs Inc. - Overview
              • Exhibit 124: Thorlabs Inc. - Product / Service
              • Exhibit 125: Thorlabs Inc. - Key offerings
            • 10.12 Tibidabo Scientific Industries Ltd.
              • Exhibit 126: Tibidabo Scientific Industries Ltd. - Overview
              • Exhibit 127: Tibidabo Scientific Industries Ltd. - Product / Service
              • Exhibit 128: Tibidabo Scientific Industries Ltd. - Key offerings

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 129: Inclusions checklist
                • Exhibit 130: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 131: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 132: Research methodology
                • Exhibit 133: Validation techniques employed for market sizing
                • Exhibit 134: Information sources
              • 11.5 List of abbreviations
                • Exhibit 135: List of abbreviations
              • of skilled human resource: Test and measurement equipment such as tunable diode laser analyzer (TDLA), optical time-domain reflectometer (OTDR), and process analyzers are required to be used by an expert in chemical and instrumentation engineering. Many of these equipment are used in manufacturing or production process. The individuals using this equipment need to have an overall understanding of the process to operate the equipment efficiently. One of the major challenges to the market is the lack of skilled human resource in the market. In many instances, end-users are not really satisfied with the use of these test and measurement equipment if they were not properly installed, serviced or calibrated properly. This also deters potential buyers to invest in these test and measurement equipment.

                Research Framework

                Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                TechnavioINFORMATION SOURCES

                Primary sources

                • Manufacturers and suppliers
                • Channel partners
                • Industry experts
                • Strategic decision makers

                Secondary sources

                • Industry journals and periodicals
                • Government data
                • Financial reports of key industry players
                • Historical data
                • Press releases
                Technavio

                TechnavioDATA ANALYSIS

                Data Synthesis

                • Collation of data
                • Estimation of key figures
                • Analysis of derived insights

                Data Validation

                • Triangulation with data models
                • Reference against proprietary databases
                • Corroboration with industry experts
                Technavio

                TechnavioREPORT WRITING

                Qualitative

                • Market drivers
                • Market challenges
                • Market trends
                • Five forces analysis

                Quantitative

                • Market size and forecast
                • Market segmentation
                • Geographical insights
                • Competitive landscape
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                The photon counter market market growth will increase by $$ 43.12 million during 2023-2026.
                The photon counter market market is expected to grow at a CAGR of 7.65% during 2023-2026.
                Technavio has segmented the photon counter market market by end-user (Medical imaging, Fluorescence microscopy, LiDAR and SLR, and Others) and geography (North America, Europe, APAC, Middle East and Africa, and South America).
                ADVACAM Oy, AUREA Technology, Becker and Hickl GmbH, Hamamatsu Photonics KK, Hidex Oy, ID Quantique SA, Laser Components GmbH, Micro Photon Devices Srl, PerkinElmer Inc., PicoQuant GmbH, Thorlabs Inc., Tibidabo Scientific Industries Ltd. are a few of the key vendors in the photon counter market market.
                North America will register the highest growth rate of 38% among the other regions. Therefore, the photon counter market market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
                The key factors driving the photon counter market market growth are:
                • growing application of structural health monitoring (SHM) systems
                • Internet of Things (IoT) advantage
                The photon counter market market vendors should focus on grabbing business opportunities from the medical imaging segment as it accounted for the largest market share in the base year.
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