Global Laser Diode Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Doping Material (Ingan, Algalnp, Gaas, Gaaias, Gainassb), By End Users (Automotive, Aerospace And Defense, Healthcare, Consumer Goods, Industrial), By Technology (VCSEL Diode, VECSEL Diode, Quantum Well Laser Diode, Quantum Cascade Laser Diode), By Wavelength (Infrared Laser Diode, Ultraviolet Laser Diode, Red Laser Diode, Blue Laser Diode, Green Laser Diode), And By Geography - Forecasts From 2023 To 2028
- Published : May 2023
- Report Code : KSI061610865
- Pages : 112
The global laser diode market is expected to grow at a compound yearly growth rate of 10.58% over the forecast period, from a market size of US$7.026 billion in 2021 to US$13.335 billion in 2028.
Laser diodes are semiconductor devices that produce coherent and directional light through stimulated emission. They are compact and efficient light sources utilized in telecommunications, healthcare, automotive, and industrial manufacturing. Different wavelengths and power levels enable customization for specific applications. The global laser diode market has witnessed a surge in demand due to its various applications in consumer electronics, healthcare, automotive, and industrial manufacturing. The market growth is attributed to high-speed data transmission needs, increased use in medical devices, and rising adoption in automotive manufacturing. Compact and energy-efficient lighting solutions, such as laser-based displays, have also boosted market growth. Further research and development is being conducted, leading to an expected expansion of the market in the future.
Furthermore, Trumpf Group's 2022 report indicates a significant increase in sales revenue, from 3504.7 million Euro in 2021 to 4222.8 million Euro in 2022, with laser diodes playing a pivotal role in this growth. TRUMPF Photonic Components uses laser diodes in cellphones, digital data transfer, and sensors for self-driving vehicles.
The global laser diode market is driven by growing research and innovation.
Laser diodes have become increasingly important in many industries and are expected to continue to grow with technological advancements. More than a billion cell phones globally already use this technology. In the production of batteries for electromobility, laser diodes are used to dry films. Several companies have launched innovative products and collaborated with other companies that have broadened the market size. For example, the Lawrence Livermore National Laboratory, which is funded by the US Department of Energy, is a leading research institution in the development of high-energy lasers for applications such as fusion energy, national security, and industrial processing. In addition, academic institutions such as the University of California, Berkeley, and the Massachusetts Institute of Technology are conducting research on new laser technologies and applications, such as laser-based cancer therapy and laser-based additive manufacturing.
- BluGlass announced in 2022 that it is optimizing the four fundamental components for dependable laser diodes – epitaxy, metals, facets, and bonds – to overcome reliability difficulties and launch its first commercial devices in the 405nm, 420nm, and 450nm wavelength ranges. Efficient thermal mechanical bonds are crucial to the reliability of laser diodes, allowing for effective heat dissipation away from the device and enabling long-term high performance. The report further added, BluGlass showcasing their latest products and performance data at major industry events such as the 2022 SPIE Photonics West conference in San Francisco, USA. BluGlass intends to create unique laser designs, such as multi-chip modules and patented RPCVD-enhanced lasers, to deliver brighter, more efficient, and higher power laser light. With a total expenditure of US$1,856k in laser diode product development in 2022, BluGlass is poised to contribute to the continued growth of the laser diode market. With the increasing research and development and company innovations, it is expected that the demand for laser diode to rise further, propelling the overall growth of the segment.
North America accounted for a major share of the global laser diode market, especially in United States.
By geography, the global laser diode market has been segmented into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.
The United States laser market is projected to witness positive growth during the projected period. This growth can be attributed to increased adoption in defense and aerospace applications, growing demand in medical devices and consumer electronics, the need for high-speed data communication infrastructure, and advancements in laser technology and development of new applications. Further, the USA is a global leader in laser research and development, with a number of government and academic institutions driving innovation in laser technology.
The US Department of Defense has been investing heavily in the development of laser-based weapons and systems in recent years. According to a 2020 report by the US Department of Defense, the department has been increasing its investment in directed energy weapons, which include laser systems, in recent years. The report stated that the department's fiscal year 2021 budget request included $1.6 billion for the development and fielding of directed energy weapons, which is an increase of $237 million over the fiscal year 2020 request. This highlights the continued investment by the US Department of Defense in laser-based weapons and systems, which is driving the increased adoption of laser diodes in defense and aerospace applications.
In conclusion, the increased adoption of laser diodes in various industries such as defense, aerospace, medical devices, and consumer electronics is driving the growth of the US laser market. The US Department of Defense's continued investment in directed energy weapons, which include laser systems, is a significant factor contributing to this growth. Additionally, advancements in laser technology and the development of new applications in various industries are further boosting the market. With the presence of leading research institutions and academic institutions focused on laser technology, the US is well-positioned to remain at the forefront of laser innovation and continue to drive the growth of the global laser diode market.
Global Laser Diode Market Scope:
|Market size value in 2019||US$10.077 billion|
|Market size value in 2026||US$21.882 billion|
|Growth Rate||CAGR of 11.71% from 2019 to 2026|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Doping Material, End-Users, Technology, Wavelength, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Coherent Inc., Cutting Edge Optronics Inc. (Northrop Grumman Corp.), IPG Photonics Corporation, OSRAM Opto Semiconductors Inc., TRUMPF Inc., Sharp Corporation, Sumitomo Corporation, ROHM Semiconductor USA LLC, Frankfurt Laser Company, OSI Laser Diode Inc.|
|Customization scope||Free report customization with purchase|
Key Market Segments
- BY DOPING MATERIAL
- BY END-USERS
- Aerospace And Defense
- Consumer Goods
- BY APPLICATION
- VCSEL Diode
- VECSEL Diode
- Quantum Well Laser Diode
- Quantum Cascade Laser Diode
- BY WAVELENGTH
- Infrared Laser Diode
- Ultraviolet Laser Diode
- Red Laser Diode
- Blue Laser Diode
- Green Laser Diode
- BY GEOGRAPHY
- North America
- South America
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
Q1. What will be the laser diode market size by 2026?
A1. The global laser diode market is projected to reach a market size of US$21.882 billion by 2026.
Q2. What are the growth prospects for the laser diode market?
A2. The laser diode market is projected to grow a CAGR of 11.71% during the forecast period.
Q3. What is the size of the global laser diode market?
A3. Laser Diode Market was valued at US$10.077 billion in 2019.
Q4. How is the laser diode market segmented?
A4. The laser diode market has been segmented by doping material, end-users, technology, wavelength, and geography.
Q5. What factors are anticipated to drive the laser diode market growth?
A5. The demand for laser diodes has witnessed significant growth in various industrial sectors across the world.
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. LASER DIODE MARKET BY DOPING MATERIAL
6. LASER DIODE MARKET BY END-USERS
6.3. Aerospace And Defense
6.5. Consumer Goods
7. LASER DIODE MARKET BY APPLICATION
7.2. VCSEL Diode
7.3. VECSEL Diode
7.4. Quantum Well Laser Diode
7.5. Quantum Cascade Laser Diode
8. LASER DIODE MARKET BY WAVELENGTH
8.2. Infrared Laser Diode
8.3. Ultraviolet Laser Diode
8.4. Red Laser Diode
8.5. Blue Laser Diode
8.6. Green Laser Diode
9. LASER DIODE MARKET BY GEOGRAPHY
9.2. North America
9.3. South America
9.5. Middle East and Africa
9.5.1. Saudi Arabia
9.6. Asia Pacific
9.6.4. South Korea
10. COMPETITIVE ENVIRONMENT AND ANALYSIS
10.1. Major Players and Strategy Analysis
10.2. Emerging Players and Market Lucrativeness
10.3. Mergers, Acquisitions, Agreements, and Collaborations
10.4. Vendor Competitiveness Matrix
11. COMPANY PROFILES
11.1. Coherent Inc
11.2. Cutting Edge Optronics Inc. (Northrop Grumman Corp.)
11.3. IPG Photonics Corporation
11.4. OSRAM Opto Semiconductors Inc.
11.5. TRUMPF Inc.
11.6. Sharp Corporation
11.7. Sumitomo Corporation
11.8. ROHM Semiconductor USA LLC
11.9. Frankfurt Laser Company
11.10. OSI Laser Diode Inc.
Cutting Edge Optronics Inc. (Northrop Grumman Corp.)
IPG Photonics Corporation
OSRAM Opto Semiconductors Inc.
ROHM Semiconductor USA LLC
Frankfurt Laser Company
OSI Laser Diode Inc.
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