The ‘Global Laser Diode Market Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global laser diode market, assessing the market on the basis of its segments like type, application, and region.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Laser Diode Market Size, Share, Price, Growth, Trends, Industry Report, Key Players, Major Segments and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 7.7%
Laser diodes are widely utilised in the industrial sector to process materials due to their advantages including small size, low maintenance requirements, short wavelength, and high electrical efficiency. The need for laser diodes is increasing since material processing plays a crucial role in the manufacturing processes in the aerospace, consumer electronics, automotive, and heavy engineering industries. Such factors are propelling the global laser diode market.
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The lightweight, small volume, and low power consumption of laser diodes is resulting in their increased demand in the telecommunication, medical, and industrial sectors. A number of environmentally friendly and high-quality marking and measurement procedures have been introduced which are supporting the demand for laser diodes. Additionally, laser diodes speed up product recycling and streamline the production process, increasing their demand across a variety of industries.
The injection laser diodes (ILD) segment by type leads the global laser diode market and is anticipated to do so during the forecast period. Injection laser diodes produce coherent radiation by infusing elections into the apparatus. The high gigahertz range of an injection laser is advantageous for reducing material dispersion. The demand for injection laser diode segments is rising due to its expanding use in telecommunication, optical amplification, and scientific equipment including range finders and contact-free tests.
Laser Diode Industry Definition and Major Segments
A laser diode is a semiconductor device that, when a current flows through it, produces coherent radiation of extremely high intensity in the infrared (IR) or visible spectrum. The radiation may be focused on a small point by employing a straightforward lens system because it only emits one frequency. The size, weight, and power requirements of laser diodes are all lower than those of traditional lasers.
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Based on type, the market is bifurcated into:
- Injection Laser Diode (ILD)
- Optically Pumped Semiconductor Laser (OPSL)
On the basis of application, the market is segmented into:
- Optical Storage and Communication
- Industrial Applications
- Medical Applications
- Military and Defence Applications
- Instrumentation and Sensor Applications
Based on region, the market is divided into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Laser Diode Market Trends
Several end-use industries, including healthcare, industrial, and automotive, among others, use laser diodes. At a regional level, the Asia Pacific is expected to witness steady growth in the laser diode market over the coming years, due to the presence of a strong manufacturing sector, and increased demand for laser diodes in material processing and general manufacturing applications.
In the healthcare sector, laser diodes are utilised for a variety of operations, including skin resurfacing, LASIK surgery, body contouring, hair and tattoo removal, and wrinkle reduction. The rising trend of these procedures is driving up the demand for laser diodes around the world. Laser diodes have seen a surge in demand in medical applications over the past several years due to their ability to help doctors concentrate the beam more precisely on targeted locations, limiting unintended damage to the surrounding areas.
The green laser diodes have operational advantages over other wavelengths among all of the laser diode’s operating ranges. Green laser diodes have a variety of uses, such as in projection, biotechnology, spectroscopy, and medicine. Thus, green laser diodes are anticipated to propel the growth of the laser diode market during the forecast period as a result of the rising demand from the healthcare sector.
Key Market Players
The major players in the global laser diode market report are Coherent, Inc., IPG Photonics Corporation, OSRAM, TRUMPF, and Jenoptik AG, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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