New York, May 16, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Visible and UV Laser Diode Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Doping Material (AIGaInP, GaN, and InGaN), Mode (Single Mode and Multi-Mode), and Application (Industrial, Defense, Scientific and Medical, and Others)”, the global visible and UV laser diode market growth is driven by the increasing uptake of multi-mode diode lasers and visible and UV laser diodes across the automotive industry, the rise in strategic initiatives among leading players and the surging uptake of visible and UV laser diodes for medical applications. However, the high uptake of LEDs over laser diodes is restricting the global market's growth.
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| Report Coverage | Details |
| Market Size Value in | US$ 3.12 Billion in 2021 |
| Market Size Value by | US$ 4.49 Billion by 2028 |
| Growth rate | CAGR of 5.3% from 2021 to 2028. |
| Forecast Period | 2021- 2028 |
| Base Year | 2021 |
| No. of Pages | 155 |
| No. Tables | 77 |
| No. of Charts & Figures | 77 |
| Historical data available | Yes |
| Segments covered | Doping Material, Mode, and Application |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Visible and UV laser diode Market: Competitive Landscape and Key Developments
ASML Holding NV; Coherent, Inc.; IPG Photonics; Newport Corporation; Nuvoton Technology Corporation; ProPhotonix; Jenoptik AG; Sheaumann Laser, Inc.; Osram Licht AG; and TRUMPF Group are among the key players operating in the visible and UV laser diode market are profiled during this market study. In addition, several other essential market players were studied and analyzed to get a holistic view of the market and its ecosystem.
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In August 2020, Sheaumann Laser, Inc.—a semiconductor laser manufacturer based in the US—relocated to its new 57,800 square-foot headquarters at 5 Federal Street in Billerica, Massachusetts. Sheaumann will be able to dramatically increase its personnel and manufacturing capacities as a result of this move, which will allow the company to fulfill the growing demand for laser-based solutions across a variety of industries. Sheaumann is one of the few laser manufacturers in the US that is vertically integrated.
The global visible and UV laser diode market is spread across five major regions – North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). North America accounted for the largest share of the visible and UV laser diode market in 2020. The rising military expenditure across the region to adopt new and advanced laser technology weapons is driving the demand for visible and UV laser technology. Due to a persistent drop in qualified laborers who are available or ready to work, the US enterprises are increasingly adopting 3D printing against traditional manufacturing techniques. This rise in demand for 3D printing across the region has also influenced the market over the years. Moreover, the rising application of visible and UV laser diodes in treating various skin diseases and other treatment processes, such as surgeries, is significantly catalyzing the visible and UV laser diode market growth in North America.
On the other hand, the APAC visible and UV laser diodes market size is expected to grow at the highest CAGR over the forecast period. The surge in demand for passenger and commercial cars across the region, owing to the presence of a huge population and the rise in their spending capacity, is fueling the need for visible and UV laser diodes in this region. Along with this, constantly increasing investments in modern technologies for headlamps, lidar, and vehicle-to-vehicle communication systems are aiding the uptake of visible and UV laser diodes as well. Thus, with the growth of automotive production across the region, the demand for visible and UV lase didoes is expected to increase over the forecast period. Additionally, the rapidly rising need for visible laser diodes in medical applications and their high adoption for treating various ailments are further contributing to the growth of the APAC visible and UV laser diode market.
Visible and UV Laser Diode Market: Doping Material Overview
Based on doping material, the visible and UV laser diode market can be categorized into AlGaInP, GaN, and InGaN. The AlGaInP dominated the market due to the increasing adoption of AIGaInP Visible and UV laser diodes in automation and aerospace and consumer electronics industry such as in light-emitting diodes LEDs that offers high-brightness, different color combinations such as red, orange, green, and yellow color, to form the heterostructure emitting light for navigations and laser diodes beacon lights thus rising applications of AlGaInP is further supporting the segment growth. The GaN segment is the fastest-growing segment as it offers advantages such as lower cost, high energy efficiency, high breakdown field, high saturation velocity, outstanding thermal properties, and faster devices.
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Visible and UV Laser Diode Market: Mode Overview
Based on mode, the global Visible and UV laser diode market is segmented into single mode and multi-mode. The single mode segment dominated the market due to its deep penetration in the market. However, the increasing demand for high luminance illumination such as automotive auxiliary high beams is accelerating growth of the multi-mode segment.
Visible and UV laser diode Market Size: Application Overview
Based on application, the global visible and UV laser diode market is categorized into industrial, defense, scientific and medical, and others. The industrial segment dominated the market as the majority of the countries prefer easy visibility of the visible and UV laser diodes in industries. However, countries such as India, China, South Korea, Japan, the UK, France, Italy, and Germany are the most advanced countries in industrial automation and robotics. Thus, with the rising adoption of industry 4.0, it is expected that demand for visible and UV laser diodes will boost in the coming years. The defense segment is the fastest-growing segment. The rise in defense budgets due to geographical tension between neighboring countries is supporting the segment growth.
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