The worldwide market for nanophotonic devices is expected to escalate from $420.7 million in 2004 to $9.33 billion in 2009, with an average annual growth rate of 85.8 percent. The figures are taken from the RGB-314 report "Nanotechnology for Photonics," which is published by Business Communications Co. Inc. of Norwalk, Conn., and scheduled for release this month.According to the study, displays and monitors, bioassays and computing electronics are expected to be the most significant applications of nanophotonic devices over the next five years, in terms of sales. Nanophotonic LEDs, a large and fast-growing market segment, have a projected average annual growth of more than 90 percent, which reflects their increasing use in monitor and display applications. The sector is expected to represent nearly 94 percent of the nanophotonics market by 2009. Near-field optics and nanophotonic integrated circuits are the only other device types predicted to have market shares greater than 1 percent in 2009.Photonic devices for application areas such as energy, telecommunications and the life sciences are covered in the report, along with nanophotonic tools. It also includes applications that meet the definition of a photonic device, even if they also are classified as optoelectronic devices.