The global market for nanophotonic devices is projected to rise from $420.7 million in 2004 to more than $9 billion in 2009 at an annual average growth rate of 85.8 percent, according to a report from Business Communications Co. Inc. of Norwalk, Conn. Titled GB-314 Nanotechnology for Photonics, the publication notes that LEDs are the largest and fastest-growing market segment, with a projected annual growth rate of more than 90 percent between 2004 and 2009.

Other device types expected to have market shares greater than 1 percent in 2009 are near-field optics and nanophotonic integrated circuits. The report was prepared using numerous industry sources.