The global Laser Diode Market is estimated to be valued at Us$ 16.79 Mn in 2023 and is expected to exhibit a CAGR Of 18% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Laser diodes are semiconductor based technology used as sources of coherent light in many applications such as laser printers, barcode scanners, optical fiber data transmission, medical and industrial laser applications. Their compact size, rugged design and reliable long term operation gives them advantages over traditional gas and solid-state lasers.
Market key trends:
One of the key trends in the laser diode market is the increasing demand of laser diodes from applications in spectroscopy and biomedical fields. Laser diodes are increasingly being utilized in applications such as optical coherence tomography, fluorescence lifetime imaging, plasma diagnostics etc due to their compact size, durability and precision. The development of diode-pumped solid-state lasers replacing gas lasers has further propelled the growth of laser diodes market.
Segment Analysis
The global laser diode market is segmented into pump diodes, power diodes and discrete diodes. Among these, the pump diodes segment is expected to dominate the market during the forecast period. Pump diodes are widely used in various industrial applications such as laser engraving and material cutting. Their compact size, high power output and reliability make them a preferred choice for use in industrial lasers.
Key Takeaways
The global laser diode market is expected to witness high growth, exhibiting a CAGR of 18.% over the forecast period, due to increasing demand from industrial, military and medical equipment manufacturing industries.
Market size related content comprises: The global laser diode market size was valued at US$ 16.79 Mn in 2023 and is expected to reach US$ 63.91 Mn by 2030, growing at a CAGR of 18.% from 2023 to 2030 due to increasing demand from telecommunication and industrial sectors including laser processing, laser printing and optical storage.
Regional analysis related content comprises: Asia Pacific dominated the global laser diode market in 2023 and is expected to continue its dominance during the forecast period. This can be attributed to the strong presence of key players and growing electronics and semiconductor industries in countries such as China, India and Japan. The laser diode market is growing at the fastest rate in India and China owing to rising foreign investments for advanced manufacturing projects in these countries.
Key players related content comprises: Key players operating in the laser diode market are ASML Holding NV, Trumpf GmbH + Co. KG, Axcel Photonics, Inc., Sumitomo Electric Industries, Ltd., Coherent Inc., Sharp Corporation, Rofin-Sinar Technologies Inc., IPG Photonics Corp., and Newport Corp. ASML Holding NV holds a major share in the market due to its strong product portfolio and global presence. Coherent Inc. also enjoys a large market share owing to its expertise in industrial and semiconductor lasers.
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