Photosensitive Semiconductor Device Market Size

Photosensitive Semiconductor Device Market Analysis

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

• The extensive use of photodiode sensors in medical products for medical imaging, spectroscopy, and pulse oximetry, among other medical and scientific instrumentations, is expected to drive the growth of the photodiode in the market.
• Moreover, photosensitive semiconductor devices in image sensors have immensely increased their application area. For instance, CMOS technology offers plenty of benefits that electronics manufacturers 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.
• Asian countries like China, India, South Korea, Taiwan, and Japan have a significant presence of manufacturers of these devices and had experience lockdowns and disrupted production schedules during Covid-19. The sales went down during that period as the lockdown in most global economies had resulted in deliveries limited to essentials and companies revising their revenue targets. Amid the spread of viruses, governments worldwide mandated the lockdown and halt of consumer electronics manufacturing processes, negatively impacting the photosensitive semiconductor device market during that period. However, the use of healthcare devices and online working and study opted by various industries, organizations, schools, and colleges led to a steady growth in the market.