Global Photodiode Market growing at a CAGR of 8.2% from 2023 to 2030
Category : Semiconductor And Electronics | Published Date : Jun 2023
Key Market Overview
The photodiode market is poised for strong expansion and is projected to reach USD 1,372.38 Million by 2030. The market was sized at USD 738.37 Million in 2022 and is predicted to grow at a compound annual growth rate of 8.2% during the period 2023-2030.
The report highlights the increasing adoption of photodiodes in consumer electronic devices to provide ambient light sensing and gesture recognition. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the photodiode market.
Global Photodiode Market By Overview
Consegic Business Intelligence provided an inclusive research report on the photodiode market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends. Indium Gallium Arsenide (InGaAs) photodiodes are predicted to register the fastest CAGR in the photodiode market in the upcoming years. The growth is credited to the ability of InGaAs photodiodes to offer excellent sensitivity in the near-infrared (NIR) spectrum, ranging from 500 to 2500 nanometers (nm). The wavelength range is particularly important in applications namely telecommunications, spectroscopy, and sensing, for the detection of light in the NIR region, thus contributing remarkably in propelling the market growth.
Get Free SampleMarket Dynamics
Driver:
- Growing adoption of smartphones raises the demand of photodiodes for ambient light sensing and gesture recognition.
- Increasing demand of photodiodes from the automotive industry for performing tasks including object detection, distance measurement, and ambient light sensing is driving the market growth.
- Increasing application of photodiode in long-range optical communication systems including fiber optic networks for the detection of optically weak signals is propelling the market growth.
Restraints:
- Poor temperature stability of photodiode leading to measurement errors, reduced sensitivity, and decreased signal-to-noise ratio is hampering the market growth.
- Presence of alternatives including phototransistors to offer higher sensitivity and enhanced signal-to-noise ratio in comparison to photodiodes is hampering the market growth.
Market Segmentation:
| Report Attributes | Report Details |
| By Type | PIN Photodiode, PN Photodiode, Schottky Photodiode, and Avalanche Photodiode |
| By Material | Germanium, Silicon, Indium Gallium Arsenide, Gallium Phosphide, and Others |
| By Mode of Operation | Photoconductive Mode (Reverse Bias) and Photovoltaic Mode (Zero-Bias) |
| By End-User | Telecommunications, Aerospace & Defense, Healthcare, Automotive, Consumer Electronics, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The landscape for photodiode market is highly competitive with major players including Edmund Optics, Excelitas Technologies Corp, First-sensor AG, and Marktech Optoelectronics, Inc. that have a strong market position in current market circumstances. The market players compete for a firm market position through mergers and acquisitions, product innovations, and business strategies. Thus, evolving research and developments in the photodiode market are expected to help market players adopt innovative ways product creation to cater to the growing needs of various end-use industries.
- Edmund Optics
- Excelitas Technologies Corp
- First-sensor AG
- Marktech Optoelectronics, Inc.
- Hamamatsu Photonics Deutschland
- Panasonic Corporation
- Kyoto Semiconductor Co., Ltd.
- Kyosemi Corporation
- OSI optoelectronics
- OSRAM Optoelectronics
- Rohm Semiconductor
- Semtech Corporation