InGaAs stands for Indium gallium arsenide and contains properties intermediate between those of InAs and GaAs. InGaAs photodiode is usually used for detecting near-infrared light, suitable for a variety of applications such as measurement, analysis, optical communication, and others. The sensor offers low noise, high sensitivity, high speed, and a spectral response ranging from 0.5 μm to 2.6 μm. According to Coherent Market Insights’ analysis, the Global InGaAs Photo Diode Sensor Market is expected to reach US$ 311.0 million by 2027 from US$ 184.0 million in 2019.
InGaAs Photo Diode Sensor Market - Impact of Coronavirus (Covid-19) Pandemic
The global electronics industry has been impacted significantly by COVID-19 in terms of supply as well as demand. According to CMI’s analysis, more than 47% of electronic equipment manufacturers have reported that COVID-19 has directly impacted their short-term strategic plans, and also impacted their revenue for the financial year 2020.
Coronavirus has led to lockdowns in several countries such as India, and the U.S., to curtain the impact of the virus. China is the largest consumer and the manufacturer of electronics and semiconductor devices, and Wuhan (China) approximately accounts for 22% of the Chinese optical device industry. Lockdown in Wuhan, China has disrupted the supply of optical devices across the globe. In addition, during the nationwide lockdowns, companies promoted work from home culture, and students were using virtual platforms for classes and studies, which relies on optical technology. For instance, according to Coherent Market Insights’ analysis, during the lockdown period, internet streaming jumped by approximately 12% globally and internet hits have been increased approximately from 50% to 70% globally.
Asia Pacific is expected to hold dominant position in the global InGaAs photo diode sensor market during the forecast period.
Asia Pacific held dominant position in the global InGaAs Photo Diode Sensor Market in 2019, accounting for 52.9% share in terms of value, followed by Europe and North America.
Figure 1: Global InGaAs Photo Diode Sensor Market Share (%), By Region, 2019
Asia Pacific held dominant position in the global InGaAs photo diode sensor market in 2019 and is projected to retain its dominance throughout the forecast period, owing to rising adoption of medical imaging products for medical processes such as CT scans across the region, majorly in economies of the region such as Australia, India, China, and Vietnam. For instance, according to National Center for Biotechnology Information and U.S. National Library of Medicine, in Japan more than 29.9 million patients undergo CT scan annually. Moreover, as per the data published by Semiconductor Industry Association, in 2020, South Korea, Taiwan, Japan, and China accounted for 19%, 6%, 5%, and 5% respectively in the global semiconductor market. These countries hold top four positions in semiconductor industry driven by significant R&D spending and government support.
Major companies operating in the global InGaAs photo diode sensor market are First Sensor, Hamamatsu Photonics K.K., Laser Components GmbH, OSI LaserDiode, Kyoto Semiconductor Co., Ltd., Teledyne Judson Technologies (TJT), SphereOptics GmbH, and Voxtel, Inc.
InGaAs Photo Diode Sensor Market Report Coverage
|Base Year:||2019||Market Size in 2019:||US$ 184.0 Mn|
|Historical Data for:||2017 to 2019||Forecast Period:||2020 to 2027|
|Forecast Period 2020 to 2027 CAGR:||7.3%||2027 Value Projection:||US$ 311.0 Mn|
First Sensor, Hamamatsu Photonics K.K., Laser Components GmbH, OSI LaserDiode, Kyoto Semiconductor Co., Ltd., Teledyne Judson Technologies (TJT), SphereOptics GmbH, and Voxtel, Inc.
|Restraints & Challenges:||
Among product type segment, the multi-element array sub-segment is expected to dominate the market during the forecast period owing to wide range of applications associated with multi-element arrays
Multi-dimension array accounted for larger market share of 61.6% in 2018. This is owing to wide range of applications associated with these InGaAs arrays including liquid-level sensing, analysis, measurement, and optical communication. When a large number of detectors are required, multi-element array offers a low cost alternative which makes it preferable for a range of applications. In multi-element photodiode array, hundreds or thousands photodiodes are placed into a single chip. InGaAs photodiode arrays have wider range of applications than single photodiode.
Figure 2: Global InGaAs Photo Diode Sensor Market Value (US$ Mn), 2017 - 2027
The global InGaAs photo diode sensor market was valued at US$ 184.0 Mn in 2019 and is expected to reach US$ 311.0 Mn by 2027 at a CAGR of 7.3% between 2019 and 2027.
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