Photodiode sensors are used in various consumer electronics such as smartphones, laptops, smartwatches for detecting light and positioning applications. Photodiode sensors convert light into electrical current, which can then be amplified and processed into signals. They are deployed across industries such as consumer electronics, industrial automation, healthcare, automotive and aerospace for applications such as gesture recognition, proximity sensing, light-to-digital conversion and optical communication. Advantages of photodiode sensors include high sensitivity, small size, low cost and simple operation. The growing usage of advanced consumer electronics equipped with various sensors is driving the demand for photodiode sensors.
The global Photodiode Sensors Market is estimated to be valued at US$ 838.12 Mn in 2023 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the photodiode sensors market is the adoption of GaN and GaAs photodiodes. GaN and GaAs are semiconductor compounds exhibiting superior characteristics such as high sensitivity, speed and quantum efficiency compared to silicon photodiodes. GaN photodiodes can operate at higher temperatures, frequencies and wavelengths. GaAs photodiodes have higher responsivity at near-infrared wavelengths. Owing to their advantages, GaN and GaAs photodiodes are increasingly finding applications in LiDAR systems, visible light communication, quantum sensing, optical mice and barcode scanners. This is expected to propel the growth of the photodiode sensors market during the forecast period.
Threat of new entrants: The threat of new entrants is moderate as the photodiode sensors market requires strong capital investments and established distribution channels. However, technological advancements are lowering the entry barriers.
Bargaining power of buyers: The bargaining power of buyers is high due to the presence of several players offering substitutable products. Buyers can negotiate on price and demand cost reductions.
Bargaining power of suppliers: The key components required for photodiode sensors come from a few major suppliers globally. Hence the bargaining power of suppliers is moderate.
Threat of new substitutes: Substitute products like image sensors act as competition. However, photodiode sensors have specific applications that deter complete substitution.
Competitive rivalry: Being a mature industry, competition is intense among established players. However, new technological developments continue to fuel market growth.
Global Photodiode Sensors Market Demand is expected to witness high growth. Advances in applications across consumer electronics, automotive, industrial automation are expected to drive the demand. The global Photodiode Sensors Market is estimated to be valued at US$ 838.12 Mn in 2023 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023 to 2030.
Regional analysis: Asia Pacific dominates the global market and is expected to grow at the fastest rate during the forecast period. This is attributed to a large manufacturing base in countries like China and expanding electronics and automotive industries in the region. Countries like India are also expected to offer lucrative opportunities.
Key players: Key players operating in the photodiode sensors market are EVERLIGHT ELECTRONICS CO. LTD., First Edmund Optics Inc., Harting Technology, KYOTO SEMICONDUCTOR Co., Ltd., OSRAM International GmbH., ROHM CO., LTD., Sensors AG, Thorlabs, Inc., TT Electronics, and Vishay Intertechnology, Inc. These players are focusing on new product developments and expansions to strengthen their market position.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it