Laser Diode Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023
Laser diodes, also known as diode lasers, are semiconductor devices which produce coherent radiation in the visible or infrared (IR) spectrum when electric current passes through them. They are small in size and weight, and have low power requirements which make them highly efficient in nature and ideal for portable electronic equipment. They are used in devices such as compact disc (CD) players, optical fibre systems, remote-control devices, laser printers and intrusion detection systems which are used in diverse industries like communication and optical storage, image recording, instrumentation and sensor, entertainment and agriculture. The latest report by IMARC Group, titled “Laser Diode Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, finds that the global laser diode market reached a value of US$ 7 Billion in 2017.
Various applications of laser diodes in diverse sectors are driving the growth of the market. The light emitted by laser diodes can be adjusted according to the requirement as they have a broad range of wavelengths. Owing to this, laser diode technologies are used for a variety of procedures in the healthcare sector, such as LASIK surgery, hair and tattoo removal, body contouring, reducing wrinkles and skin resurfacing. Additionally, these diodes find several applications in the industrial sector including welding, soldering, cladding, micromachining and surface hardening. Further, laser diodes are used in headlamps for luxury cars where they provide a longer range of light as compared to LED headlamps. The rising demand for these headlamps in the automotive sector is expected to boost the consumption of laser diodes. According to the report, the market is expected to reach a value of US$ 12 Billion by 2023, exhibiting a CAGR of 10% during 2018-2023.
The report has segmented the global laser diode market on the basis of product type. Injection laser diode (ILD) is the most popular product type followed by optically pumped semiconductor laser (OPSL). The market is further analysed on the basis of applications covering optical storage and communication, industrial applications, medical applications, military and defence applications, instrumentation and sensor applications, and others. Among these, optical storage and communication is the largest segment, accounting for the majority of the global share. Region-wise, Asia-Pacific represents one of the leading market. Other major regions include Europe, North America, Latin America, and Middle East. Some of the key players operating in the market include Coherent, IPG Photonics, OSRAM Licht AG, TRUMPf GmbH + Co. KG, and Jenoptik AG.
This report provides a deep insight into the global laser diode market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the laser diode market in any manner.
Key Questions Answered in This Report:
How has the global laser diode market performed so far and how will it perform in the coming years?
What are the key regions in the global laser diode market?
Which are the popular product types in the global laser diode market?
What are the major applications in the global laser diode market?
What are the various stages in the value chain of the global laser diode market?
What are the key driving factors and challenges in the global laser diode market?
What is the structure of the global laser diode market and who are the key players?
What is the degree of competition in the global laser diode market?
How is laser diode manufactured?