by Market Overview:
Photodiode sensors are semiconductor devices that convert light photons into an electrical current. They are versatile devices used for light detection in various applications such as optical communication, fiber optic network, precision measurement, and industrial inspection. Photodiode sensors can detect wavelengths ranging from ultraviolet to infrared based on the material properties. They offer advantages such as compact size, low cost, fast response, linearity, and reliability. Due to these properties, photodiode sensors find widespread adoption in applications such as machine vision, gesture recognition, industrial automation, manufacturing process monitoring, and optical communication systems.
The global Photodiode Sensors Market is estimated to be valued at US$ 838.12 Mn or 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 major trends in the Global photodiode sensors market size is the rising demand from the optical inspection application. Photodiode sensors play a vital role in machine vision systems used for inspection and quality control in various manufacturing industries such as semiconductors, electronics, pharmaceuticals, food and beverages, and automotive. They are used for defect detection, dimension measurements, and surface analysis. The growing need for automation and improved inspection capabilities is propelling the demand for photodiode sensors from the manufacturing sector. Additionally, the rising deployment of optical communications networks and increasing data traffic is augumenting the adoption of photodiode sensors in fiber optic communication systems.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the photodiode sensors market is low due to the presence of established players and high initial investment required to manufacture products.
Bargaining power of buyers: The bargaining power of buyers is high due to the availability of substitutes. Buyers can easily switch to alternative sensing products if prices increase significantly.
Bargaining power of suppliers: The bargaining power of suppliers is low as there are many suppliers for raw materials used to manufacture photodiode sensors.
Threat of new substitutes: The threat of substitutes like phototransistors, charge-coupled devices, and CMOS optical sensors is moderate as they can replace photodiode sensors for some applications.
Competitive rivalry: High due to presence of many global players offering similar photodiode sensor products.
Key Takeaways
The global photodiode sensors market is expected to witness high growth, exhibiting CAGR of 7.7% over the forecast period, due to increasing demand for proximity sensors in consumer electronics.
Regional analysis
Asia Pacific dominates the photodiode sensors market and is expected to continue its dominance over the forecast period. Established electronics industries, availability of raw materials and cheap labor force are key factors contributing to market growth in the region. China is the largest consumer of photodiode sensors in Asia Pacific.
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. EVERLIGHT ELECTRONICS and OSRAM International GmbH are recognized as technology leaders in photodiode sensor technology.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
