The global laser diode market is evaluated at US$10.077 billion for the year 2019 and is projected to grow at a CAGR of 11.71% reaching the market size of US$21.882 billion by the year 2026.
The demand for laser diodes has witnessed significant growth in various industrial sectors across the world. For instance, the demand for laser diodes in the healthcare sector has witnessed growth. A laser diode can assist physicians to focus the beam with better precision on targeted areas, preventing any kind of damage to the surrounding area. As a result, the employment of semiconductor laser diodes is continuously expanding in spine, cardiovascular, and cataract surgeries. Besides this, laser diodes also find vast applications in hair removal, body contouring, LASIK surgery, skin resurfacing, tattoo removal, and wrinkle and pigmentation reduction.
The market has been significantly driven by the exponential rise witnessed in the healthcare sector in recent years. Moreover, the advantage of the laser diode is finding new applications in various other industries as well.
The advent of COVID-19 had an adverse impact on the global laser diode market. The immense downturn in several industries worldwide has been a significant reason for the decline in the demand for laser diodes. Additionally, the shortages in the supply of raw material, along with a significant decrease in the demand are expected to continue until the end of 2020, due to the disruption in the supply chain worldwide. According to IPC's survey of electronics businesses, around 69% of the respondents are informed by their suppliers that there will be delays in shipments due to COVID-19. Moreover, the operational activities across industries came to a standstill owing to the lockdowns in several countries which caused severe disruptions in the supply chains. These disruptions caused the shipments to be delayed and hence postponing and slowing down the overall manufacturing process of the diodes. With the world recovering from the pandemic, several industries have shown recovery signs in recent times. Similarly, the market for the laser diode is expected to witness significant growth during the forecast period.
The segmentation of the global laser diode market has been done into doping material, end-user, technology, wavelength, and geography. By doping material, the classification of the market has been done into InGaN, AlGalnP, GaAs, GaAIAs, GaInAsSb. By end-users, the classification of the market has been done into Automotive, Aerospace, and Defense, Healthcare, Consumer Goods, Industrial. By technology, the classification of the market has been done into VCSEL Diode, VECSEL Diode, Quantum Well Laser Diode, Quantum Cascade Laser Diode. By wavelength, the classification of the market has been done into, Infrared Laser Diode, Ultraviolet Laser Diode, Red Laser Diode, Blue Laser Diode, Green Laser Diode. Furthermore, on the basis of geography, the global market has been distributed as North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.
The exponential rise in the adoption rate by the automotive industry for various applications at a global level will drive the market during the forecast period
The growth of the laser diode market is fuelled by the exponential rise in the adoption of the semiconductor by the automotive industry in recent years for various applications. laser diodes are now being used in the manufacturing of automotive headlamps as they offer the driver improved visibility, resulting in increased road traffic safety. Apart from this, they also provide the longest range in comparison with any other current headlight technology. In the upcoming years, the sales of laser diodes are expected to rise significantly in this industry on account of mounting demand for luxury vehicles, driven by inflating income levels and improving living standards.
The players in the global laser diode market are implementing various growth strategies to gain a competitive advantage over their competitors in this market. Major market players in the market have been covered along with their relative competitive strategies and the report also mentions recent deals and investments of different market players over the last few years. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the market.
|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|
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 Definition
1.2. Market Segmentation
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. Porters Five Forces Analysis
4.3.1. Bargaining Power of End-Users
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 Analysis, by Doping material
6. Laser Diode Market Analysis, by End-users
6.3. Aerospace And Defense
6.5. Consumer Goods
7. Laser Diode Market Analysis, 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 Analysis, 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 Analysis, 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.
All our studies come with 2 months of analyst support.
We are in compliance with the global privacy laws.