Promising collaborations and partnerships to develop advanced 5G equipped-technology combined with increased use in next-generation high end use applications are expected to act as beacons for the Photodiodes market growth through 2021 and beyond, forecasts a pipeline study on the landscape by award winning consulting firm Fact.MR.
According to the study by Fact.MR, the Photodiodes market is projected to expand at 8% CAGR from 2021-2031. Soaring demand of Photodiodes from smartphone manufacturing companies is escalating the demand for the market. Smart phone manufacturers are adopting high-end components such as advanced photodiodes to improve their camera technology. Hence, fostering the sales.
With advancements in technology and demand from medical, agricultural and automobile sector, Photodiodes are increasingly being used for hyper spectral imaging applications. Significant application of avalanche Photodiodes in automobile systems and LiDAR sensors further fostering the sales of Photodiodes, projects Fact.MR study.
“Prominent players are focusing on incorporating advanced technology to provide prodigious opportunity to the market using silicon and indium gallium arsenide Photodiodes in various applications,” says a Fact.MR analyst.
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- By end-use, automotive to remain dominant, however consumer electronics provides attractive opportunities for smartphones manufacturers
- Silicon material to remain lucrative
- Indium gallium arsenide Photodiodes to emerge as the fastest growing segment with a robust rate of 9% CAGR
- Avalanche Photodiodes to be the most lucrative segment
- While U.S. is spearheading the growth in North America, Japan to rise faster with nearly 10% CAGR in East Asia.
- Advancement of 5G technology in imaging solutions to vanguard the growth of Photodiodes market
- Applications in consumer electronics such as camera systems for hyper spectral imaging applications to bolster demand
- Increased usage of Photodiodes in high-end medical application to further the growth
- High cost of materials and regulatory barriers likely to restrict the growth
- Availability of cheaper material substitutes to create a challenge for the growth of the market
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Prominent Photodiodes providers profiled by Fact.MR includes OSRAM Optoelectronics, Frist-sensor AG, Excelitas Technologies Corp, Hamamatsu Photonics Deutschland, Kyosemi Corporation, OSI Optoelectronics, Edmund Optics, II-VI Incorporated, Rohm Semiconductor, Thorlabs Inc., and Everlight among others. The market is highly fragmented with leading Photodiodes providers focusing on strategic M&A’s and product innovation as a key to generate future growth prospects.
For instance, in March 2021, Excelitas Technologies introduced a new LINOS d.fine HR 2.4/128 3.33X high resolution inspection lens. Made in Germany the product offers brilliant optical performance. The latest model with extremely high resolution is expected to add few more customers and attract new potential clients with its high performance quality.
More Valuable Insights on Photodiodes Market
In its latest offering, Fact.MR provides a detailed study on global Photodiodes market. The study divulges essential insights on the Photodiodes market on the basis of type (PN Photodiodes, PIN type, avalanche Photodiodes, and schottky Photodiodes), material (silicon, germanium, gallium phosphide, indium gallium arsenide, and others), mode of operation (photovoltaic mode and photoconductive mode), end-use (consumer electronics, telecommunications, healthcare, aerospace & defense, automotive and others), and key regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa (MEA)).
Key Questions Covered in the Report
- Which material will remain the most lucrative for Photodiodes market?
- Which segment holds the major market share for Photodiodes?
- What will be the key drivers for the Photodiodes market?
- What will be the challenges that key players would face due to Covid-19?
- What will be the market outlook for Photodiodes in the upcoming years?
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