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Optoelectronics refers to a class of semiconductor-based electronic devices that deal with light either by producing it, reacting to it or otherwise controlling it. Semiconductors are materials whose conductivity properties change under the influence of a flow of electrons as a reaction to a variety of stimuli (which may include light - depending on the exact makeup of the material).
Semiconductor materials with optoelectronic qualities can be used to produce a photovoltaic effect, where by a photon contacting the surface of the semiconductor will reduce a flow of electrons to the other surface.
Another way that a semiconductor material can be used for its optoelectronic qualities is due to light-induced changes in conductivity, or "photoconductivity". When a photoconductor is exposed to light, it becomes conductive and allows an electric current to pass. This is the basis of optical sensors used in a wide variety of applications; from motion detectors to digital cameras.
A stimulated emission can be produced from a semiconductor material. This occurs when a semiconductor material with optoelectronic qualities is fed an electric current, and the flow of electrons forces the emission of photons, or light. This has a applications from industrial and household lighting, to laser manufacturing.