The worldwide nanophotonic market is projected to reach $37.6 billion, to a CAGR record of 100.7 percent by 2014, according to a new research of Advance and Technology market on Thursday.

The analysis expects the market to grow $3.6 billion in 2014, out of which Asian market will account for 74 percent of the total revenues or $2.7 billion. However, U.S and Europe will account high growth rate of 161.1% and 160.0%, respectively.

The LED market growth also is projected to reach $2.7 billion at a CAGR of 91.3%, with Optical amplifier and holographic memory device markets of growth rate of 239% and 234.6% respectively from 2009 to 2014.

Nanophotonics is a combination of three major sciences such as photonics, nanotechnology, and optoelectronics which have revolutionized the electronics and semiconductors market.