Market Overview:
Photodiode sensors are used in measuring light intensity, emitting visible light, infrared radiation, and ultraviolet radiation. Photodiode sensors find wide applications in consumer electronics, commercial applications, industrial process control, and automotive applications among others. They offer advantages such as high sensitivity, fast response time, compact size and portability.
Market key trends:
One of the key trends gaining traction in the photodiode sensors market is increasing popularity and adoption of photodiode sensors in automotive applications. Photodiode sensors are increasingly being used in automotive applications such as backup camera systems, proximity sensors, lane departure warning systems, rain sensors, car door sensors and parking sensors among others. With growing vehicle safety features and autonomous driving capabilities, demand for photodiode sensors from automotive industry is expected to increase considerably over the forecast period.
Porter’s Analysis
Threat of new entrants: The high initial investment and strong brand loyalty act as entry barriers for new players in the market. Bargaining power of buyers: Large buyers can negotiate better prices and demand improved quality, payment terms, and services due to their high purchasing power and volumes. Bargaining power of suppliers: The presence of multiple component suppliers gives buyers more options, thus limiting supplier bargaining power. Threat of new substitutes: Substitution threat is moderate as photodiode sensors find wide applications across industries. Competitive rivalry: Intense competition exists between established brands.
SWOT Analysis
Strengths: High demand from industries such as consumer electronics, healthcare, automotive, among others. Variety of size, wavelength response, and operating voltage options provide flexibility to customers.
Weaknesses: High manufacturing costs. Requirement of additional electronics to process output signals may increase overall system costs.
Opportunities: Growing adoption of IoT and automation in industries offers scope for increased usage. Emerging applications in biomedical imaging and molecular detection present opportunities.
Threats: Technology obsolescence risk due to continuous upgrades. Trade barriers and policy changes impact global supply chains.
Key Takeaways
The Global Photodiode Sensors Market Demand is expected to witness high growth, exhibiting CAGR of 7.7% over the forecast period, due to increasing demand from consumer electronics such as smartphones, tablets, wearables. The market size for 2023 is US$ 838.12 Mn.
North America dominates the global market currently due to strong presence of sensor manufacturers and heightened adoption across industries such as healthcare and automotive in the US and Canada. Asia Pacific exhibits highest growth aided by expanding electronics, automotive, and healthcare industries in China, India, Japan and South Korea.
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.
Read More:
https://www.dailyprbulletin.com/photodiode-sensors-market-demand-share-analysis/
The increasing adoption of photodetectors in various end-use industries is expected to propel the growth of the photoelectric sensors market.
Some popular applications of such sensors include object detection, proximity sensors for personal computer applications, motion detection, laser spot detection, microwave aperture detection, and industrial automation.
A photodiode is basically a diode that has been constructed to produce energy in the form of a voltage across its junction.
These photodiodes are found in many electronic devices such as cameras, televisions, watches, medical equipment, automobiles, handheld devices, aircraft, space shuttles, satellites, radio, and telecommunications equipment.
The voltage produced by a photodiode is proportional to the square of the total exposed area of the phototransistor.
The extensive usage of photodiode sensors within medical applications for application in blood tests, medical imaging, laser pulse oximetry, and spectroscopy among many other medical and laboratory instruments is expected to drive increased demand of the global photodiode sensors market in upcoming years.
