New York, USA, June 19, 2023 (GLOBE NEWSWIRE) -- According to the research report published by Market Research Future Market Research Future (MRFR), "Laser Diode Market Information: Wavelength, Doping Material, Technology, Application, and Region - Forecast till 2032”, Market could thrive at a rate of 13.50% between 2023 and 2032. The market size will be reaching around USD 17.8 Billion by the end of the year 2032.
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Key Companies in the Laser Diode market include
- AMS-OSRAM AG
- ASML Holding NV
- Axcel Photonics, Inc.
- Bluglass Limited
- Coherent Inc.
- Frankfurt Laser Company
- Hamamatsu Photonics K.K
- II-VI Incorporated
- Infineon Technologies AG
- IPG Photonics Corp.
- Jenoptik AG
- Kyocera Corp
- Lumentum Holding Inc.
- MKS Instruments, Inc.
- Newport Corporation
- OSRAM Licht AG
- PG Photonics Corporation
- Power Technology, Inc.
Scope of the Report – Laser diode Market:
| Report Metrics | Details |
| Market Size by 2032 | USD 17.8 Billion |
| CAGR during 2023-2032 | 13.50% |
| Base Year | 2022 |
| Forecast | 2023-2032 |
| Key Market Opportunities | Increasing applications of laser diodes in biomedical field |
| Key Market Dynamics | The increasing adoption of high-power laser diodes in autonomous vehicle technologies and surge in demand for high-power laser diodes for industrial applications |
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The primary market drivers boosting market expansion are the increased use of high-power laser diodes in autonomous vehicle technology and the rising demand for them in industrial applications. High-power laser diodes are multimode laser diodes, which have a bigger emitter and can generate more power than single-mode laser diodes. With respect to the intended wavelength, the output power varies. Laser diodes are available with wavelengths ranging from the mid-IR (>2 um) to the UV (370 nm).
High-power laser diodes have output powers that range from several watts to hundreds of milliwatts at various wavelengths. Due to the availability of high-power diode laser systems in the kilowatt range, industrial high-brightness systems are used for welding applications, whereas low-brightness laser diodes are used in high-power applications like cladding, additive manufacturing, brazing, and hardening.
The rising use of laser diodes across multiple end-use industries is expected to drive growth in the global laser diode industry during the forecast period. The communication, automation of manufacturing procedures, material processing, data storage, medical industry, displays, and sensing are only a few applications for laser diodes.
Regulations governing the use of laser technology are expected to fuel the growth of the global laser diode industry throughout the forecasted period. Lasers are generally used for marking and engraving in the industrial sector. A variety of goods and materials use marking to display brand names, pricing, manufacturing dates, serial numbers, product codes, and other information. Common marking techniques include inkjet printing, ink stamping, punching, and laser marking. Laser marking systems offer several advantages over other conventional marking procedures, including an environmentally benign approach and high-quality marks. Additionally, laser marking eliminates the need for a solvent during the marking process, which shortens the manufacturing process and facilitates recycling. Laser marking is chosen over conventional marking techniques as a result. Additionally, a number of countries, particularly the United States, are implementing strict regulatory criteria for clear labelling to reduce the incidence of food poisoning caused by consuming expired food products. driving the Laser Diode market's revenue in the process.
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Segmentation
Laser Diode market is segmented on the basis of Wavelength, doping material, technology, application, and region.
Infrared laser diodes, red laser diodes, blue laser diodes, blue violet laser diodes, green laser diodes, and ultraviolet laser diodes are among the wavelength-based segments of the laser diode industry. In 2022, the red laser diodes segment dominated the world market.
Gallium aluminium arsenide (GaAIAs), gallium arsenide (GAAS), gallium indium arsenic antimony (GAINASSB), aluminium gallium indium phosphide (AIGAINP), indium gallium nitride (INGAN), gallium nitride (GAN), and others are among the doping materials included in the Laser Diode Market segmentation. In 2022, the gallium aluminium arsenide (GaAIAs) category was the market leader.
The vertical cavity surface emitting laser (VCSEL) diodes, the double hetero structure laser diodes, the quantum well laser diodes, the quantum cascade laser diodes, the distributed feedback laser diodes, and the vertical external cavity laser.
In 2022, the market for laser diodes was dominated by quantum cascade lasers.
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Telecommunication, industrial, medical & healthcare, consumer electronics, automotive, and other industries are included in the segmentation of the laser diode market based on application. In 2022, the Laser Diode Market was dominated by the medical & healthcare sector. Laser diodes are used in a variety of medical operations, including surgery, dermatology, gynaecology, cardiology, otology, ophthalmology, angioplasty, photodynamic therapy (PDT), diagnostic image processing, and more.
The analysis offers market insights for North America, Europe, Asia-Pacific, and the rest of the world, by region. In 2022, this market was headed by the Asia Pacific Laser Diode market (45.80%). Demand for laser diodes has increased in the region as a result of an increase in R&D, particularly in the military and defence industries. Additionally, the Indian Laser Diode market had the quickest rate of growth in the Asia-Pacific region, while China's Laser Diode market had the greatest market share.
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