Laser Diode Market to 2025 is set to grow at a CAGR of 11.2% till 2025 – The Insight Partners
Laser diodes owing to a number of advantageous features offered by them, are rapidly becoming a vital part of modern technology and are being utilized in various applications. Laser marking tool is a reliable technology offering easy assistance and better efficiency. There are several laser marking options available in the market with different specifications and uses. Before the laser technology was introduced, there were several other printing methods in vogue such as acid etching chemicals and ink. However, these technologies do not suit the ever-increasing array of designs and materials nowadays. These traditional marking and engraving methods are now considered to be useless or are prohibited by the government due to their harmful after effects. Thus, new government policies and regulations to dispose traditional markings and replacing them with environment friendly and cleaner laser technology are expected to boost the global market.
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The global market is classified by doping materials into GaN, AlGaInP, InGaN, GaAlAs and other doping materials (GaAs and GaInAsSb). This report is further classified on the basis of wavelength into red laser diode, blue, IR, blue-violet and others (green and UV ). Lastly, the global market is segmented on the basis of applications into consumer electronics, automotive, military & defense, healthcare and other applications (industrial, instrumentation & sensors, etc.).
China led the laser diode market in Asia Pacific (APAC) in 2015 and is expected to continue its dominance by rising at a CAGR of 11.8% during the forecast period from 2015 to 2025. Increasing demand for advanced technology in the healthcare and industrial markets is driving the growth in the laser industry.
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Some of the key factors driving the global market include growing awareness about laser diode and its uses, growing fiber laser market, and remarkable research in the VCSEL market. Significant rise in the use of laser diodes in various end-use markets due to a number of advantageous features provided by laser technology in-comparison to traditional methods is a major factor driving this market. Moreover, the rapid growth in automotive industries and electronic manufacturing across the world is bolstering the global market. However, the major hindrance to this market include lack of R&D funding for the military segment coupled-with high initial costs required to manufacture laser diodes. However, projection applications provided by green laser diode devices are analyzed to create several opportunities for growth in this market during the near future.
Brazil led the South America (SAM) laser diode market in 2015 and is likely to continue its dominance by expanding at a CAGR of 12.2% during the forecast period from 2015 to 2025. Brazil boasts of the largest manufacturing sector in SAM, which accounts for nearly one-third of SAM’s GDP. Brazil has an array of industries ranging from automobile, steel, and petrochemicals to computers, aircrafts, and consumer durables that deploy laser diodes in their applications.
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Laser diodes are also used in surgeries due to their features which include a diverse range of operating wavelengths. Furthermore, it can also be modulated directly by using frequencies up to GHz range in high-speed communications. Thus, there is no delay in the input of operating surgeon and output of laser radiation. In addition,these are easily adjustable in terms of power output from 0% to 100%, thereby providing flexibility in the dosage of laser output. On the other hand, solid state lasers have restrictive adjustable power output ranging from 60% to 100%. This feature makes laser diodes the perfect tool for medical and healthcare applications. Thus, the expansion of electronics and healthcare industries complements the growth of the market owing to the substantial utilization of laser diodes across various applications in these industries.
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Geographically, the global laser diode market is segmented into Europe, North America, Asia Pacific, South America and Middle East & Africa. Some of the key players operating in this global market include IPG Photonic Corp., Coherent, Inc., Newport Corp., ASML Holding NV, Axcel Photonics, Inc., Rofin-Sinar Technologies Inc., Sumitomo Electric Industries, Ltd., Sharp Corporation, Panasonic Semiconductor Solutions Co., Ltd. And Trumpf GmbH + Co. KG among others.
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