The global laser diode market reached a value of US$ 7.61 Billion in 2018. The market is further projected to reach a value of US$ 11.89 Billion by 2024, growing at a CAGR of 7.71% during 2019-2024. A laser diode, also known as a diode laser, refers to a semiconductor device which generates coherent radiation in the visible or infrared (IR) spectrum when current passes through it. It is similar to a light-emitting diode, wherein a laser beam is created at the diode's junction. As the light consists of a single frequency, it can be focused on a very small point by using a simple lens system. Laser diodes are small in size, light in weight and have low power requirements which make them highly efficient in nature and ideal for portable electronic equipment. Due to this, they are used in various devices such as barcode readers, autonomous vehicles, laser printers, fiber optic communications and security systems.
Global Laser Diode Market Drivers:
Breakup by Product Type:
On the basis of types, the market is bifurcated into injection laser diode (ILD) and optically pumped semiconductor laser (OPSL). Currently, injection laser diode represents the most popular product type, holding the majority of the market share.
Breakup by Application:
Based on applications, the global laser diode market is segregated as optical storage and communication, industrial applications, medical applications, military and defense applications, and instrumentation and sensor applications. At present, industrial applications account for the majority of the market share, representing the biggest application area.
On a geographical front, Asia Pacific enjoys the leading position in the global laser diode market. Constant demand emerging for material processing in automotive, heavy industries and general manufacturing is contributing to the growth of the market in the region. Other major markets include North America, Europe, Latin America, and Middle East and Africa.
The market is fragmented in nature with the presence of numerous small and large manufacturers who compete against one another in terms of prices, quality, and innovation. Some of the leading players operating in the market are:
This report provides a deep insight into the global laser diode market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the laser diode industry in any manner.
Key Questions Answered in This Report:
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