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Laser Diode Market Overview
Rising demand for laser diodes in the healthcare sector for better precision and damage prevention, mass deployment of the diodes across the industrial sector for efficient metal processing, and increasing adoption of these diodes in manufacturing automotive headlamps are some of the key factors driving the global laser diode market. Continuous technological advancements to provide greater efficiency and precision, and increasing military applications are some other factors contributing to the growth of the market. Also, the rising demand for data storage and optical fiber communication across the globe is further driving the demand for laser diodes.
A laser diode is a semiconductor device that uses p-n junction to emit coherent light of high intensity, in which all waves travel at the same frequency and phase. It is similar to a light-emitting diode (LED) that produces coherent light by using a method called light amplification by stimulated radiation emission (LASER). Laser diodes are small in size, generate light of high efficiency that allows better handling, and have low power requirement, as compared to other LEDs. These advantages make laser diodes ideal for use in portable electronic equipment, such as barcode scanners.
The laser diode market is bifurcated into injection laser diode (ILD) and optically pumped semiconductor laser (OPSL), based on type. Between the two, ILD held larger share in 2019 and is expected to dominate the market during the forecast period. On the other hand, the OPSL category is expected to grow at a higher rate, due to its several advantages over other lasers. The major advantage is its unique wavelength flexibility, which allows scaling and ability to match with wavelength requirements of various applications. This has increased the adoption of OPSL in several areas, such as healthcare, entertainment and light show, defense & forensics, and scientific research.
The laser diode market is categorized into continuous-wave and pulsed, on the basis of mode of operation. Between the two, the pulsed category is expected to witness faster growth during the forecast period. This can be ascribed to the excellent power stability with temperature and high peak power of pulsed laser diode. The other factors that fuel the growth of the market for pulsed laser diodes are the optical characteristics, small and compact size, and ruggedness of the diodes. On the contrary, increasing demand for video surveillance systems and head-up display (HUD) equipment in the automotive sector to provide navigation information, vehicle speed, lane departure warning, fuel indication, and other traffic information, is augmenting the demand for continuous-wave laser diodes. Also, technological advancements in projection module and light source to provide more brightness per watt and integration of pico projectors in consumer electronics are driving the demand for continuous-wave laser diodes.
The laser diode market is categorized into near-infrared (750−3000 nm), red (635−670 nm), blue (360−480 nm), green (520−570 nm), and others, based on wavelength. Among these, the green category is projected to witness the highest growth during the forecast period, owing to the optical features of green laser, such as line matrix, dot matrix, multi-line, line, cross, and point, and good beam properties. Green lasers are highly efficient, small in size, and can be directly modulated. The lasers have wide applications in military and defense and are used for warning, pointing, threat detection, and undersea communications. Rising use of unmanned aerial vehicles (UAVs), ultra-compact marine vehicles, and portable ground units in military applications has led to broad deployment of non-lethal threat detection lasers. Also, rising applications of multi-stage green lasers in the healthcare sector and increasing availability of laser-based commercial displays are further boosting the market growth in this category.
The laser diode market, on the basis of application, is classified into communications, data storage, industrial, healthcare, military and defense, automotive, consumer electronics, and others. The data storage category is expected to grow at the highest rate during the forecast period. Optical data storage is considered as an energy-efficient means to store digital data. Several advantages offered by optical storage devices, such as the use of low-power laser beams to store and retrieve digital data from storage devices and relevance of binary data by using laser beams for encoding data on optical discs, have led to a huge demand for such devices. Also, increasing importance of compact data storage technologies will further drive the demand for laser diodes.
Geographically, the North American laser diode market held the largest share in 2019. This is due to the rising research and development (R&D) activities in the military and defense sector, increasing applications of the diode in the healthcare sector, and presence of some major telecommunication firms in the region. Also, applications of laser diodes in cosmetic surgery, laser-assisted in situ keratomileusis (LASIK) surgery, hair removal, body contouring, tattoo removal, and pigmentation reduction, are further boosting their demand. On the other hand, the Asia-Pacific (APAC) market exhibited the highest growth and is projected to sustain this pace during the forecast period as well, due to the increasing demand for laser diodes and associated laser-based technologies and the rising manufacturing and industrialization activities in the region.
Laser Diode Market Dynamics
Laser diodes are being used across several industry verticals, especially in the manufacturing and automotive industries. In the automotive industry, laser diodes are used in the production of automotive headlamps, which provide enhanced visibility for drivers, resulting in increased safety on the road. Also, the trend of miniaturization of headlights in automobiles is further driving the demand for laser diodes. Due to the increasing demand for luxury cars, powered by increasing income levels and improving living standards, the sales of laser diodes are expected to increase significantly in this industry in coming years.
Laser Diode Market Competitive Landscape
The laser diode market is highly fragmented and competitive in nature, due to the presence of various small and large players. Companies are rapidly launching new products to increase their presence. For instance, in 2019, Blueglass Limited launched its laser diode business unit to capture greater downstream manufacturing value. The unit will leverage remote-plasma chemical vapor deposition (RPCVD) Tunnel Junction (TJ) technology to enable higher brightness, and gallium nitride (GaN) laser diode with higher efficiency.
Some of the key players operating in the global laser diode market are Finisar Corporation, Osram Licht Group, Uniphase Corporation, Panasonic Semiconductor Solutions Co. Ltd, Rohm Co. Ltd., IPG Photonics Corporation, Sharp Corporation, Coherent Inc., Hamamatsu Photonics K.K., JDS, Jenoptik AG, Newport Corporation, Rofin-Sinar Technologies Inc., Broadcom Inc., Trumpf GmbH + Co. Kg, and Nichia Corporation.
The report will also provide a country-wise analysis. Some of the major countries that are covered in the report are the U.S., Canada, the U.K., Germany, France, China, Japan, India, South Korea, Mexico, Brazil, South Africa, the U.A.E., and Saudi Arabia.
Laser Diode Market Segmentation
Market Segmentation by Type
Market Segmentation by Mode of Operation
Market Segmentation by Wavelength
Market Segmentation by Application
Market Segmentation by Region