by Photodiode sensors are used in various applications including optical communication systems, laser rangefinders, and image sensors. Photodiode sensors have high sensitivity and fast response time which makes them suitable for detection of light in several industrial and consumer applications. Increasing adoption of Internet of Things is driving the demand for photodiode sensors as IoT devices require sensors for functions like proximity detection, gesture recognition and others. Smart home devices, wearable electronics and industrial automation systems widely use photodiode sensors.
Photodiode sensors are used in applications such as proximity sensors, gesture sensing, barcode scanning, 3D scanning, biometric authentication and optical communication systems. In proximity sensing applications, photodiode sensors detect light reflected back from nearby objects or persons to identify their presence and distance. Increasing use of gesture recognition and video gaming systems employ photodiode sensors for their motion tracking abilities.
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 Dynamics:
Growing adoption of IoT devices across various industries is driving the demand for photodiode sensors as a key component in enabling smart functionality. IoT systems require light and proximity sensors for functions like detecting user presence, gestures and object detection. According to the International Energy Agency, more than 30 billion IoT devices were installed worldwide in 2020 and this number is expected to double by 2030. Increasing penetration of smart home appliances, wearable devices, industrial robots and autonomous machines generate significant opportunities for photodiode sensor manufacturers. Moreover, wide usage of gesture recognition and motion tracking systems in consumer electronics like smartphones, gaming consoles and VR/AR headsets favors the market growth. Rising penetration of augmented and virtual reality devices also contributes to higher photodiode sensor integration. Photodiode sensors play an important role in proximity detection, object recognition and motion tracking applications in AR/VR devices. Growing demand for consumer and industrial automation is a major factor driving the photodiode sensors market during the forecast period.
Segment Analysis
The global photodiode sensors market is segmented based on material type as silicon photodiodes, germanium photodiodes and gallium arsenide photodiodes. Out of these segments, silicon photodiodes held largest market share in 2022 as they are least expensive and highly efficient. Gallium arsenide photodiodes are expected to witness fastest growth over the forecast period owing to their benefits like high quantum efficiency and low dark currents.
PEST Analysis
Political: The trade policies like tariffs on electronic goods imports impact the market. For instance, US-China trade war affected import of some key components from China.
Economic: Growing adoption of IoT and AI technologies in various applications is fueling the growth. However, global economic downturns impact spending on new technologies.
Social: Increasing consumer demand for automation, smart homes and connected devices is driving the demand. Growing digitization and internet penetration also support market growth.
Technological: Advancements in areas like machine vision, LiDAR, optical communications are creating growth opportunities. Development of UV and near infrared photodiodes are expanding application scope.
Key Takeaways
The Global Photodiode Sensors Market Size is expected to witness high growth over the forecast period supported by growing demand across diverse application areas. 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.
North America held the largest share in 2022 owing to strong presence of key players and advanced electronics industry in the region. Asia Pacific is expected to witness fastest growth over the forecast period led by growing electronics production and rising adoption of industrial automation in China, Japan and other developing countries. Presence of fabrication facilities of major players also supports regional market growth.
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 launches and partnerships to strengthen their position.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
