Laser Diode Market is Anticipated to reach USD 17.8 Billion, grow at a CAGR of 13.50% from 2023 to 2032
Research Reports
Aug 19, 2023
Laser Diode Market Insights:
The market size for laser diodes was estimated at USD 5.7 billion in 2022. A compound annual growth rate (CAGR) of 13.50% is anticipated for the Laser Diode market Technology from 2023 to 2032, from USD 6.5 billion to USD 17.8 billion. The primary market drivers boosting market expansion are the increased use of high-power laser diodes in autonomous vehicle technology and the rising demand for them in industrial applications.
High-power laser diodes are multimode laser diodes, which have a bigger emitter and can generate more power than single-mode laser diodes. With respect to the intended wavelength, the output power varies. Laser diodes are available with wavelengths ranging from the mid-IR (>2 um) to the UV (370 nm). High-power laser diodes have output powers that range from several watts to hundreds of milliwatts at various wavelengths. Due to the availability of high-power diode laser systems in the kilowatt range, industrial high-brightness systems are used for welding applications, whereas low-brightness laser diodes are used in high-power applications like cladding, additive manufacturing, brazing, and hardening.
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Key Players:
- AMS-OSRAM AGASML Holding NV
- Axcel Photonics, Inc.
- Bluglass Limited
- Coherent Inc.
- Frankfurt Laser Company
- Hamamatsu Photonics K.KII-VI Incorporated
- Infineon Technologies AG
- IPG Photonics Corp.
- Jenoptik AG
- Kyocera Corp
- Lumentum Holding Inc.
- MKS Instruments, Inc.
- Newport Corporation
- OSRAM Licht AG
- PG Photonics Corporation
- Power Technology, Inc.
- Rofin-Sinar Technologies Inc.
- ROHM Co. Ltd
- Sharp Corporation
- Sumitomo Electric Industries, Ltd
- Thorlabs, Inc.
- Trumpf Gmbh + Co. KG
- Ushio, Inc.,
are the notable vendors in the Laser Diode market.
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Laser Diode Market Regional Analysis:
The analysis offers market insights for North America, Europe, Asia-Pacific, and the rest of the world, by region. In 2022, this market was headed by the Asia Pacific Laser Diode market (45.80%).
Demand for laser diodes has increased in the region as a result of an increase in R&D, particularly in the military and defence industries. Additionally, the Indian Laser Diode market had the quickest rate of growth in the Asia-Pacific region, while China’s Laser Diode market had the greatest market share. In 2022, the Europe Laser Diode market held a sizable market share. The growing use of laser diodes in the healthcare sector is one of the major market drivers influencing the geographical expansion. Additionally, the U.K. Laser Diode market was expanding at the fastest rate in the European region, while the German Laser Diode market had the biggest market share.
Laser Diode Market Segmentation:
Infrared laser diodes, red laser diodes, blue laser diodes, blue violet laser diodes, green laser diodes, and ultraviolet laser diodes are among the wavelength-based segments of the laser diode market. In 2022, the red laser diodes segment dominated the world market.
Gallium aluminium arsenide (GaAIAs), gallium arsenide (GAAS), gallium indium arsenic antimony (GAINASSB), aluminium gallium indium phosphide (AIGAINP), indium gallium nitride (INGAN), gallium nitride (GAN), and others are among the doping materials included in the Laser Diode Market segmentation. In 2022, the gallium aluminium arsenide (GaAIAs) category was the market leader.
The technology-based segmentation of the laser diode market includes vertical cavity surface emitting lasers (VCSEL) and vertical external cavity surface emitting lasers (VECSEL) as well as double hetero structure laser diodes, quantum well laser diodes, quantum cascade laser diodes, distributed feedback laser diodes, and SCH laser diodes. In 2022, the market for laser diodes was dominated by quantum cascade lasers.
Telecommunication, industrial, medical & healthcare, consumer electronics, automotive, and other industries are included in the segmentation of the laser diode market based on application. In 2022, the Laser Diode Market was dominated by the medical & healthcare sector.
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In the fibre optical communication industry, high-speed laser diodes are used to transmit data through telephone and Internet networks. The vast majority of optical fibre networks are powered by distributed feedback laser diodes. The increased demand for cloud services and high-speed Internet services like 3G and long-Term Evolution (LTE) has led to a higher growth of optical fibre networks globally.
According to Market Research Future, there will be 5 billion laser diode users worldwide in 2020, up from 1.7 billion in 2010. The advantages of laser diodes over other light sources include their high conversion efficiency, sensitivity to temperature changes, and low cost. This has significantly increased the demand for and uses for laser diodes.
Regulations governing the use of laser technology are expected to fuel the growth of the global laser diode market throughout the forecasted period. Lasers are generally used for marking and engraving in the industrial sector. A variety of goods and materials use marking to display brand names, pricing, manufacturing dates, serial numbers, product codes, and other information.
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