Used in the production of indium-based semiconductor materials, particularly in transparent conductive oxides like indium tin oxide (ITO), which are essential for flat-panel displays, touchscreens, and solar cells. Serves as a precursor in the synthesis of other indium compounds used in electronics and optoelectronic devices. Finds application in catalysis for organic transformations and in the development of sensors due to its electrical and surface properties. Also explored in research for potential use in energy storage systems and nanomaterials.