INGAAS PHOTO DIODE SENSOR MARKET ANALYSIS

Ingaas Photo Diode Sensor MarketSize and Trends

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.

Statistics:

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

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.