According to the latest report by IMARC Group, the global laser diode market size reached US$ 8.20 Billion in 2019. Laser diodes (LD), also known as injection lasers, are semiconductor devices that generate coherent radiation of high intensity in the visible or infrared (IR) spectrum when a current passes through. They can be focused on a very small point with the help of a simple lens system. As compared to conventional lasers, laser diodes are compact, lightweight, and require low current and voltage. Consequently, they are gaining immense traction across the globe and finding vast applications in laser printers, communications, optical fiber systems, compact disc (CD) players, remote-control devices, intrusion detection systems and industrial processing machinery.
Global Laser Diode Market Trends:
Laser diodes are utilized in a variety of procedures in the healthcare sector, which include LASIK surgery, skin resurfacing, body contouring, reducing wrinkles, and hair and tattoo removal. In line with this, the rising trend and acceptance of these medical procedures are escalating the demand for laser diodes across the globe. Apart from this, laser diodes are replacing conventional headlamp technologies as they have a longer range. Therefore, they are being used with LED lights as headlamps in luxury cars, which in turn is contributing to the market growth. Furthermore, some of the prominent players in the industry are investing in research and development (R&D) activities to create an array of technologies and introduce higher accuracy diodes at an affordable price point. Looking forward, the market value is projected to reach US$ 12.75 Billion by 2025, expanding at a CAGR of 7.6% during the forecast period (2020-2025).
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Breakup by Product type:
- Injection Laser Diode (ILD)
- Optically Pumped Semiconductor Laser (OPSL)
Based on the type, the market has been bifurcated into injection laser diode (ILD) and optically pumped semiconductor laser (OPSL). The injection laser diode currently exhibits a clear dominance in the market.
Breakup by Applications:
- Optical Storage and Communication
- Industrial Applications
- Medical Applications
- Military and Defense Applications
- Instrumentation and Sensor Applications
On the basis of the application, the industrial segment holds the majority of the total market share. Other major applications include optical storage and communication; medical; military and defense; instrumentation and sensor; and others.
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Breakup by Region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Region-wise, Asia Pacific holds the largest market share. Other major markets include North America, Europe, Latin America, and Middle East and Africa.
The competitive landscape of the market has been examined in the report, with some of the key players being Coherent, Inc., IPG Photonics Corporation, OSRAM Licht AG, TRUMPF Werkzeugmaschinen GmbH + Company KG and Jenoptik AG.
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