Photosensitive Semiconductor Device Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Photosensitive Semiconductor Device Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The photosensitive semiconductor device market is expected to register a CAGR of over 9.2 % during the forecast period (2021 - 2026). These devices are used in image sensors mainly used in a large number of imaging devices and digital cameras to enhance the quality of cauterization and storage of images. These imaging applications have found high adoption in industrial, media, medical, and consumer applications.

• The extensive use of photodiode sensors in medical products for purpose in medical imaging, spectroscopy, and pulse oximetry among various other medical and scientific instrumentations are expected to drive the growth of the photodiode in the market.
• Also, the use of photosensitive semiconductor devices in image sensors has increased the area of application immensely for them. For instance, CMOS technology offers plenty of benefits that electronics manufacturers try to leverage to improve device design, differentiate their products in the marketplace, and meet specific consumer needs.​ Therefore, the growth of image sensors will boost the growth of photosensitive semiconductor devices in the market.
• The COVID-19 is expected to have a significant impact on the market in the current year. It is anticipated to continue to have an effect for the first two quarters of the year following it, as the supply chain has experienced a huge disruption owing to the COVID-19 being declared as a pandemic. ​
• Asian countries such as China, India, South Korea, Taiwan, Japan have a significant presence of manufacturers of these devices and have experienced lockdown and disrupted the production schedules. The sales have been down as the lockdown in most of the global economies has been resulted in deliveries limited to essentials and has resulted in companies revising their revenue targets. Amid the spread of viruses, governments across the world have mandated the lockdown and halt of manufacturing processes for consumer electronics, which will negatively impact the market for photosensitive semiconductor device market. However, their use in healthcare devices might help in recovering the losses.

• Photosensitive semiconductor devices are used as image sensors primarily in a large number of imaging devices and digital cameras to enhance the quality of cauterization and storage of images. These imaging applications have found high adoption in industrial, media, medical, and consumer applications.
• Due to the growing demand for smartphones, security cameras, high-definition cameras, and camcorders, the photosensitive semiconductor device market is expected to record high growth during the forecast period. The manufacturers, across the world, are striving to improve major parameters, such as resolution, performance, and pixel size. ​
• Moreover, the increased use of photosensitive semiconductor devices in CMOS sensors are establishing a foothold at the low-cost end of the consumer market by offering more functions on-chip that simplify camera design.​ For instance, Motorola Inc. (Phoenix) developing a CMOS image sensor capability in tandem with Kodak Co. (Rochester, N.Y.) and was touting its latest version - a megapixel CMOS sensor plus on-chip logic — at the recent Consumer Electronics Show. The new version, a 1.3-million-pixel "camera-on-a-chip," uses an all-CMOS process to build both the sensor array and additional on-chip signal-processing logic.​
• However, due to the vast economic downturn experienced by companies across the industries, employees are also witnessing salary cuts. This may directly impact the purchase decision for consumer electronics designed with photosensitive semiconductor devices and affect the growth of the market on a short term basis.​

• An increase in spending by the middle class across the region on consumer electronics products such as smartphones, tablets, televisions, etc. is driving the consumer electronics market growth leading to the growth of photosensitive semiconductor devices in the region.
• China has implemented the Social Credit System, which uses extensive facial recognition of its citizen. The facial recognition systems are being implemented across the country, and the requirement for cameras for the project is expected to drive the market. ​The country is investing heavily in its facial recognition capabilities; according to Tsinghua University, China's market size of biometric recognition technologies is expected to reach CNY 34 billion. ​
• Owing to the adoption of surveillance cameras by the government, the market is expected to grow at a full pace until 2022, and after that, the growth is expected to be sluggish. However, over the next coming years, the replacement rate of these cameras is also expected to drive the market significantly.​
• The high investments in developing the infrastructure of armed forces in the region have boosted the growth of the market. For instance, according to an official document and military sources, India has finalized a road map to spend USD 130 billion in the next five to seven years to modernize the armed forces and reinforce their combat capacities over rivals in the region.​ These investments will increase the demand for surveillance equipment, which will, in turn, boost the growth of photosensitive semiconductor devices in the area.

The global discrete semiconductor market is highly fragmented with numerous semiconductor manufacturers providing the product. The companies are continuously investing in the product and technology in order to promote sustainable environment growth and prevent environmental hazards. The companies are also acquiring other companies who specifically deal with these products to boost the market share.

• In October 2019, The German Space Agency DLR and Teledyne Brown Engineering of Huntsville, have started operation of a jointly funded hyperspectral imager attached to the exterior of the International Space Station. ​
• In June 2019, Hamamatsu Photonics developed an InGaAs area image sensor for hyperspectral cameras capable of detecting short-wavelength-infrared light up to 2.55 μm which is the world’s longest wavelength detectable by this type of area image sensor.

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