Wilmington, Delaware, United States, June 14, 2022 (GLOBE NEWSWIRE) -- Laser diode market forecast study predicts the market to rise at a CAGR of 11.6% during the forecast timeline, from 2022 to 2031. The global market was valued at more than US$ 6.2 Bn in 2021. Laser diode market research report estimates that the market will surpass valuation of US$ 18.3 Bn by 2031. Laser diodes are used in broadband communication systems as well as data centers in the telecommunications industry. In analog and digital fibre optic network systems, laser diodes are used to pump lasers in EDFAs (Erbium-doped amplifiers) or in the form of high-power pulsed lasers in the test and measurement industry.
In order to keep their businesses growing after the COVID-19 outbreak, laser diode manufacturers & suppliers are focused on rapidly growing end-use industries including IT & communications and automotive. The need for use in several industrial applications including heat treatment, welding, precision metal cutting, and cladding is expected to fuel market growth. In order to diversify their income streams, manufacturers can take advantage of additional potential in laser products.
Laser printers, motion sensors, sensors, 3D depth sensors, and optical disk pickup are just a few of the technologies that employ laser diodes. Since data damaged or lost owing to drive aging is reduced in optical data storage, usage of solid-state lasers for data storage is increasing.
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Key Findings of Market Report
- Demand for autonomous cars is anticipated to grow in both developed as well as developing nations, thereby boosting the laser diode market throughout the forecast period. Additionally, the global market has grown as a result of increasing investment in the development and production of autonomous cars and continuing technological advancements in the automotive industry.
- The aerospace and military industry is a critical end-use industrial category for laser diodes. For decades, laser diodes have been used in the form of pump sources for solid-state systems in the aerospace and military industries. This is still one of the most common applications of laser diode, with high-power laser diode bars and laser diode arrays being the most common formats.
- Based on technology, distributed feedback laser diodes commanded a 35% of the laser diode global market share in 2021. Distributed feedback laser diodes are preferred owing to their improved modulation capacity, simple design and capability to function at high temperatures.
- In 2021, Asia Pacific accounted for 34% of the global laser diode market in terms of volume. The increasing demand for laser diodes in the consumer electronics and automotive industries is largely responsible for the market growth. These end-use industries account for a large portion of overall consumption in Asia Pacific. In the region, China held a significant proportion of the laser diode market.
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Global Laser Diode Market: Growth Drivers
- Based on property (wavelength), the near-infrared laser diode category is expected to develop rapidly during the forecast period. Growth of the category is ascribed to growing demand for near-infrared laser diodes in medical and remote sensing uses. NIR (Near Infrared) lasers are one of the most diversified types of solid-state lasers.
- Considering doping material, the GaAs category is expected to increase rapidly in the forthcoming years. The expansion of the segment is likely due to growing demand for a broad variety of products, including commercial displays and lighting, copper welding, and blue-ray players. In electrical circuits, it also creates reduced noise than silicon devices, especially at much higher frequencies.
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Global Laser Diode Market: Key Players
Some of the key market players are
- Frankfurt Laser Company
- Sumitomo Electric Industries, Ltd.
- Rofin-Sinar Technologies Inc.
- Trumpf GmbH + Co. KG
- Infineon Technologies AG
- Sharp Corporation
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Global Laser Diode Market: Segmentation
Doping Material
- InGaN
- GaN
- AIGaInP
- GaAs
- Others
Property (Wavelength)
- Near-Infrared Laser Diode
- Visible Laser Diode
- Quantum and Interband Cascade Laser Diode
- Ultraviolet Laser Diode
Technology
- Distributed Feedback Laser Diodes
- Double Hetero Structure Laser Diodes
- Quantum Dot Cascade Laser Diodes
- VCSEL Diodes
- Others
End Use Industry
- Aerospace & Defense
- Automotive
- Consumer Electronics
- Electronics & Semiconductors
- IT & Telecommunication
- Others
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