The new report by Expert Market Research titled, ‘Global Avalanche Photodiode Market Growth, Share, Price, Trends, Report and Forecast 2023-2028’, gives an in-depth analysis of the global avalanche photodiode market, assessing the market based on its segments like materials, end uses, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2021): USD 157 Million
• Forecast CAGR (2023-2028): 3.7%
• Forecast Market Size (2027): USD 195 million
Avalanche photodiode is a crucial component in the LIDAR systems. Hence, the increasing demand for LIDAR in the aerospace industry to measure distance, speed, rotation, and composition of remote target is fuelling the demand for the product. Meanwhile, the increasing deployment of optical fibre communications in the telecommunication industry is likely to add to the market growth of avalanche photodiode in the forecast period.
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The increasing application of avalanche photodiode in encoders, laser scanners, and laser alignment systems is also anticipated to bolster the demand for the product in the coming years. Geographically, North America accounts for a significant share in the market owing to the progressive product innovations by the key market players with strong foothold in the region.
Industry Definition and Major Segments
Avalanche photodiode is defined as a responsive semiconductor which uses photoelectric effect to change light into electricity. These diodes use the internal gain mechanism which allows them to recognise low optical signal strengths and individual photons. High speed and sensitivity of avalanche photodiode distinguishes them from conventional photodiodes. This makes them ideal for various industrial and commercial applications.
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On the basis of material, the market can be segmented into:
• Silicon Materials
• Germanium Materials
• InGaAs Material
The significant end-uses of the product include:
• Aerospace and Defence
The regional markets for avalanche photodiode include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The key trends in the global avalanche photodiode market include the resurgence of the application of avalanche photodiode as a detector in flow cytometry. Over the forecast period, the expected increase in the deployment of flow cytometry for detection and analysis of cancer cells owing to the increasing prevalence of cancer among the population is likely to contribute to the market growth.
Meanwhile, the rapid development of new and advanced avalanche photodiodes aimed towards improving the LIDAR receivers will further fuel the market growth. The changing preference of manufacturers from photomultiplier tubes to avalanche photodiode, which is attributable to its lightweight, high strength, and compactness, is also likely to augment the market in the forecast period.
Key Market Players
The major players in the market are Excelitas Technologies Corp., Kyoto Semiconductors Co., Ltd., Sifotonics Technologies Co., Ltd., Lumentum Operations, and Renesas Electronics Corporation, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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