Global InGaAs Photo Diode Sensor Market, By Product Type (Multi-element array (PN, PIN, and Avalanche) and Single-element array), By Range (Short Range Detection, Medium Range Detection, and Long Range Detection), By Application (LiDAR (Automotive ADAS, Automated Guided Vehicle (AGV), Range Finding, and Others), Optical Communication (Power Monitor, DWDM Monitoring, Single/Multi-Mode Fiber Optic Receiver, and Others), and Infrared Imaging), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa) - Global Forecast to 2027, is expected to be valued at US$ 311.0 million by 2027, exhibiting a CAGR of 7.3% during the forecast period (2020-2027), as highlighted in a report published by Coherent Market Insights.
Overview
InGaAs photodiode is usually used for detecting near-infrared light, suitable for a variety of applications including measurement, analysis, optical communication, among others. Adoption of 5th Generation Network will introduce the concept of Multiple Input Multiple Output (MIMO) which requires connectivity through optical fiber media. This will result in increasing demand for InGaAs photodiode sensors worldwide.
Additionally, the road to 5G infrastructure would also push Internet of Things (IoT) adoption, creating a conducive environment for InGaAs photodiodes and efficient communication systems. IoT adoption is rapidly expanding in major industries including automotive, manufacturing, consumer products etc. Therefore, focus towards 5G implementation along with Internet of Things (IoT) will generate significant opportunities for players in the global InGaAs photodiode sensors market during the forecast period.
The global InGaAs photo diode sensor market was valued at US$ 184.0 Mn in 2019, which is expected to exhibit a CAGR of 7.9% during the forecast period.
Market Dynamics
With continuous advancement in the telecom industry and the increasing installation of optical fiber for numerous services, the market for indium gallium arsenide (InGaAs) photodiode sensors is expected to grow significantly over the forecast period. The communication industry’s need to transmit increasing volume of information has spurred the fiber optics community to develop economical and high-speed transmission techniques.
InGaAs photodiode sensors allow ultrafast data transfer. The indium gallium arsenide (InGaAs) positive-intrinsic-negative (PIN) photo diode is the most widely used detector in 1.3-µm transmission systems. Primary applications for these devices are data communications (datacom) and telecommunications (telecom)
InGaAs Avalanche photodiodes are used preferably in the IT & telecom sector for long-range fiber communication, quantum sensing, and laser range-finding as they feature improved signal-to-noise ratio, greater linear response range, high quantum efficiency, and easy-installation
Increasing deployment of large-scale fiber optic networks and rise in adoption of broadband network architecture to facilitate fast long distance communication in the telecom sector primarily drives the InGaAs photo diode sensor market growth. For instance, currently, India has an optical fiber-based network spanning across 2.8 Mn kilometres. The National Broadband Mission has set a target to deploy about 5 Mn kilometers of optical fiber by 2024.
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. This has also affected the InGaAs Photodiode Sensor Market in a significant manner. In 2020, the electronic manufactures faced disruption in their short-term strategies and their financials were also impacted by COVID pandemic. China is one of the major supplier and manufacturers of electronic and optical devices. Due to nationwide lockdowns, the supply of optical devices were heavily impacted across the globe.