Silicon Photomultiplier Market Share Accelerated by Expanding Use in Medical Imaging and 3D Sensing | Valuates Reports

Silicon Photomultiplier Market Size
The global market for Silicon Photomultiplier was valued at US$ 152 million in the year 2024 and is projected to reach a revised size of US$ 231 million by 2031, growing at a CAGR of 6.3% during the forecast period.

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The Silicon Photomultiplier Market is witnessing robust market growth, driven by increasing adoption in medical imaging, biosciences, and advanced sensing applications. SiPM technology offers high sensitivity, fast response, and compact design, making it a superior alternative to traditional photomultiplier tubes. Market trends indicate that the rising demand for high-resolution imaging, coupled with the growing adoption of LiDAR and 3D ranging systems, is expanding the overall market size.

By type, the array type segment currently holds the largest market share, owing to its scalability and versatility in applications requiring high photon detection efficiency, such as medical diagnostics and particle physics. The monocoque type segment also contributes steadily to market size, favored in niche applications where compactness and cost-effectiveness are key considerations. Both types continue to play a vital role in advancing imaging and detection technologies.

In terms of application, the medical imaging segment dominates the market share, driven by growing usage in PET scanners and other diagnostic imaging systems that rely on precise photon detection. The 3D ranging and imaging segment is projected to witness the fastest market growth, fueled by the rising adoption of SiPMs in autonomous vehicles, robotics, and augmented reality. The bioscience segment adds further demand, particularly in areas such as molecular imaging and fluorescence detection, while the others category supports specialized research and industrial applications.

Looking ahead, the market forecast points to significant opportunities as SiPM technology continues to evolve with improvements in photon detection efficiency, cost reduction, and integration with emerging systems. With expanding adoption across healthcare, automotive, and scientific research, the Silicon Photomultiplier Market is poised for sustained market growth and increasing global market share.

by Type

• Monocoque Type
• Array Type

by Application

• Medical Imaging
• Bioscience
• 3D Ranging and Imaging
• Others

By Company

ON Semiconductor (SensL), Hamamatsu Photonics, Broadcom, TE Connectivity (Fisrt Sensor)

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