Dublin, Oct. 24, 2024 (GLOBE NEWSWIRE) -- The "Asia-Pacific Semiconductor Lasers Market Size, Share & Trends Analysis Report by Type, Application, Country and Growth Forecast, 2024-2031" report has been added to ResearchAndMarkets.com's offering.
The Asia Pacific Semiconductor Lasers Market is expected to witness market growth of 9.7% CAGR during the forecast period (2024-2031).
The Chinese market dominated the Asia Pacific Semiconductor Lasers Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $1.24 billion by 2031. The Japanese market is registering a CAGR of 9.1% during 2024-2031. Additionally, the Indian market is expected to showcase a CAGR of 10.4% during 2024-2031.
The automotive industry has emerged as a significant market for these lasers. With the increasing adoption of advanced driver-assistance systems (ADAS) and the push towards autonomous driving, these lasers are essential in LiDAR (Light Detection and Ranging) systems.
Due to their ability to emit precise and coherent light, these lasers have become essential tools in scientific research, particularly in fields like spectroscopy, microscopy, and quantum optics. In spectroscopy, for example, these lasers detect atmospheric gases, such as methane and carbon dioxide, helping researchers at Los Alamos National Laboratory (US) monitor greenhouse gases to address climate change.
In Japan, these lasers are increasingly used in the defense and aerospace sectors. The Japanese government has been ramping up its defense spending, focusing on advanced technologies like laser-based communications and missile defense systems. Japan's aerospace industry is also adopting these lasers for navigation and satellite communication systems, supported by government-backed initiatives such as the Basic Plan on Space Policy to boost Japan's space capabilities. India is witnessing a growing demand for these lasers in biotechnology, particularly in medical research and diagnostics.
As India's biotechnology sector expands, these lasers are becoming an essential tool for research and diagnostics. With strong government backing and technological advancements in key industries, the demand for these lasers is expected to continue rising globally, solidifying Asia-Pacific's role as a global leader in the semiconductor laser market.
The key companies in the Asia-Pacific semiconductor lasers market, which are profiled in this report, include:
- Coherent Corp.
- SHARP Corporation
- Nichia Corporation
- IPG Photonics Corporation
- Sumitomo Electric Industries, Ltd.
- Panasonic Holdings Corporation
- Sony Corporation
- ams-OSRAM AG
- Hamamatsu Photonics K.K.
- Renesas Electronics Corporation
Market Report Segmentation
By Type
- Fiber Optic Laser
- Vertical Cavity Surface Emitting Lasers
- Blue Laser
- Green Laser
- Infrared Laser
- Red Laser
- Other Types
By Application
- Communications and Optical Storage
- Entertainment, Displays and Printing
- Aerospace, Defense, and Military
- Medical and Aesthetic
- Material Processing
- Instruments and Sensors
- Other Applications
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia-Pacific
For more information about this report visit https://www.researchandmarkets.com/r/5utvfs
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