LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global photo detector market to grow at a CAGR of over 10% during the period 2018-2022, according to their latest report.
In this report, Technavio highlights the growing concept of Industry 4.0 as one of the key emerging trends in the global photo detector market. With the increasing automation of processes, the industrial environment is witnessing evolutionary changes. The combination of digital and physical systems enables machine-to-machine (M2M) communication and enhances the human-machine interface (HMI). Industry 4.0 includes the entire product lifecycle, including smart machinery carrying out manufacturing processes, smart robots assembling products, and smart driverless transport operating logistics processes on their own.
Photo detectors are being implemented in smart machinery, smart robots, and smart driverless transport which comprises of multiple sensors and cameras. Players in the market are manufacturing photo detectors that are ready for application in Industry 4.0.
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In this report, Technavio analysts highlight the growth of consumer electronics market as a key factor contributing to the growth of the global photo detector market:
Growth of consumer electronics market
Photo detectors are used in several consumer electronics devices, including smartphones, optical disk drives, tablets, digital televisions, digital cameras, webcams, and compact disk players. In consumer electronics devices, photo detectors such as ambient light sensors, are used for adjusting the screen brightness. To increase the performance of end products, OEMs are integrating multiple sensors in a single device. Multiple photo detectors are used by smartphones for adjusting the brightness of the display and camera. Smartphone cameras use complementary metal–oxide–semiconductor (CMOS) image sensors that have photo detectors. The increase in the number of photo detectors results in a rise in the number of pixels. The most commonly used sensors in smartphones are CMOS image sensors.
According to a senior analyst at Technavio for semiconductor equipment, “Smartphone manufacturers are racing to enhance the quality of their phone cameras in terms of build and quality, owing to the intense competition in the market. This will enable an increase in the integration of photo detectors in cameras. Several smartphone players such as Huawei Technologies, Apple, Samsung, LG Electronics, OnePlus, OPPO and Vivo Communication Technology have started providing dual cameras on the back of their smartphones.”
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Global photo detector market segmentation
This market research report segments the global photo detector market into the following products (photon detectors and thermal detectors), end-users (consumer electronics, industrial equipment, aerospace and defense, and automobile) and key regions (the Americas, APAC, and EMEA).
Of the four major end-users, the consumer electronics segment held the largest market share in 2017, accounting for nearly 42% of the market. The market share for this end-user is expected to decrease by 2022. The fastest growing end-user is industrial equipment, which will account for nearly 40% of the total market share by 2022.
The Americas was the leading region for the global photo detector market in 2017, accounting for a market share of nearly 42%. By 2022, APAC is expected to witness the highest growth rate of nearly 2%.
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