A Laser diode (LD) is a semiconductor that uses p-n junction to produce coherent radiations either in the visible spectrum or infrared range at the same frequency and time. It is also known as Laser diode injection, and the technique is close to that used in LED.
What is the Laser diodes market sise and what are the main drivers behind the laser diode market?
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Laser Diode Market Size
The global market for the laser diode is expected to reach around US$ 9 billion by 2025 from US$ 3 billion in 2018.
Analysis of Laser Diode Market
The global market of laser diodes is mostly driven by various factors such as it is a cheaper, small-sized device, high efficient, and perform better than some other laser technologies. Laser diodes rapidly become an important part of advanced technologies and are being used in applications such as communication, CD-players, laser printers and pointers along with the use in industrial processing equipment.
Furthermore, the growth in electronics, telecommunications and healthcare sectors and government policies use the laser technology for printing and labelling of goods which require laser diodes. It is expected that these factors would drive further the global market for laser diodes.
The global laser diode market is dominated by a large number of companies which tend to increase their market share by differentiating their products. The major players are also constantly trying to reduce their cost of production so that they can increase their profit margins and compete across the value chain to gain more profit margins.
Companies are progressively transitioning from gas lasers to ultrafast Lasers, as customers are looking for a lightweight, sealed systems that are automated and computer-controlled. It is therefore expected that small gas lasers such as air-cooled ion lasers will be phased out entirely in the near future.
One of the main trends would be that that laser surface-emitting vertical cavity (VCSEL) technology for applications such as smartphone facial recognition will boost the market in the coming years. VCSEL is a type of laser diode that provides better beam properties, thermal stability and system scalability in comparison with products such as Fabry Perot Laser diodes.
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The global Laser diode market is driven by the rise in Laser diode adoption for applications such as optical storage, communication, automotive, military and defence. It is likely that increased use of devices such as CD players, optical fibre systems, remote control devices, intrusion detection systems and Laser printers would drive the market growth. Besides, the increase in outdoor events requiring lighting and other accessories also boost market growth.
For optical sensing markets, the wide use of Laser diodes also affects the automotive and electronics sectors. The global demand for Laser diodes in the healthcare industry has been rising in recent years. A Laser diode can help doctors aim the beam more precisely on specific areas and avoid any damage to the vicinity. As a result, the use of semiconductor Laser diodes in the spine, cardiovascular and cataract surgeries are constantly growing. In addition, Laser diodes also have extensive uses in hair removal, body contouring, LASIK surgery, skin resurfacing, removal of tattoos, and reduction of wrinkles and pigmentation.
In the automotive industry, Laser diodes are now used in automotive manufacturing because they offer better visibility for the driver, resulting in greater road safety. Besides this, they also offer the longest range compared to any other current headlight technology. In the coming years, sales of Laser diodes in the automotive industry are expected to rise dramatically due to increased demand for luxury vehicles, driven by increased improved living standards.
Laser diodes are used in material processing in the industrial sector due to their advantages such as compact size, low maintenance, short wavelength and high electrical performance. Metal processing applications include metal welding, metal hardening, Laser brazing, metal cladding and metal cutting. The market for Laser diodes is gaining momentum as materials processing is an integral part of the aerospace, aeronautical, heavy technology and consumer electronics manufacturing process.
The innovation in the Laser diode industry is constantly being developed by researchers and developers to improve comfort and accuracy at a low price point. However, its applications in the industrial sector can be limited due to the high cost of Laser diode.