According to the new research report published by The Insight Partners, titled “Laser Diode Market - Global Analysis and Forecast to 2025”, the global laser diode market is expected to reach US$ 17.7 billion in 2025, registering a CAGR of 11.2% during the forecast period 2015-2025.
In 2015, Asia-Pacific accounted for the largest revenue share of more than one-third of the total market share, followed by North America.
North America has the second-largest share of the global laser diode market. In North America, the large scale use of laser diodes is being driven by the volume manufacturing of sub-systems, modules, and systems for data storage and telecommunication. The manufacturing is done by both original equipment manufacturers (OEMs) and contract electronics manufacturers (CEMs). There is a general trend of shifting the manufacturing process from OEMs to CEMs, which is accompanied with the geographical shift, i.e., the CEM being located in regions such as South-East Asia or Mexico, where cheap labor is easily available. The construction market is anticipated to be the fastest growing segment. Demand for lighting fixtures in the U.S. has risen, and the non-portable fixtures are slated to remain the dominant product category. This category has grown at a better rate as compared to the portable lighting segment. North America is also among one of the major markets for automotive lighting.
LASER stands for Light Amplification by Stimulated Emission of Radiation. The laser diode is a p-i-n junction electrically pumped semiconductor diode. Its active region is located in the intrinsic region, and the carriers such as holes and electrons are pumped into the P and N regions respectively. Initially, laser diodes were made using p-n diodes; however, modern laser diodes utilize the double heterostructure implementation. The photons and carriers are confined to maximize the chances of recombination and generation of light. In order to produce light, all the carriers in the I region need to be recombined. Thus, these laser diodes are made using direct band gap semiconductors. Crystal growth technique is utilized in the growth of the laser diode epitaxial structure that is usually initiated from an N-doped cladding and contact layer. The active layer comprises quantum wells that offer low threshold current and greater efficacy.
Laser diode market is segmented based on application, i.e. automotive, consumer electronics, healthcare, military & defense, and other applications. Automotive segment holds the prominent market share during the forecast period. Laser diode-based headlamps require lesser power and have greater efficiency than LED headlamps. Laser diodes produce a more targeted light point, which increases visual safety while driving and they also limit the offensive glare that is experienced during the use of halogen-based lights. Laser diodes offer high beam lighting which has a greater reach and brings design flexibility due to its compact size. The automotive laser diode segment is analyzed to expand at a steady rate during the forecast period, especially in Europe and APAC region.
Key findings of the study:
Asia-Pacific is anticipated to account the high Y-o-Y growth during the forecast period of laser diode market and is expected to register a CAGR of 12%
Based on the application, the automotive segment is expected to dominate the market during the forecast period
Developing countries of Europe and Asia-Pacific are witnessing high demand for laser diode due to the increasing demand from the automotive sector.
Advancements in display technologies across the globe, particularly in developing economies of the Asia Pacific (APAC) region coupled with rapid growth in automotive and electronic manufacturing sectors across the region are propelling the global laser diode market. APAC is the fastest growing market for automotive manufacturing. Furthermore, industrial and automobile laser manufacturing is witnessing significant demand due to the fact that a number of manufacturers are looking forward to upgrading their equipment and there is tremendous demand among consumers for automobiles.
The key companies profiled in this report include ASML Holding N.V., Axcel Photonics, Inc., Coherent, Inc., IPG Photonics Corporation, Newport Corporation, Panasonic Semiconductor Solutions Co., Ltd., Rofin-Sinar Technologies Inc., Sharp Corporation, Sumitomo Electric Industries, Ltd., and Trumpf GmbH + Co. KG.
Contact Person: Sameer Joshi
Email Id: email@example.com