A new publication by Transparency Market Research states that the competitive landscape of the global laser diode market is estimated to be dominated by key players such as ASML Holding NV, Coherent Inc., and Rofin-Sinar Technologies Inc. In the recent past, these three companies accounted for more than half of the market collectively.
Laser diodes like laser printers, CD players, laser printers, laser pointers, industrial processing machineries, and research and development are becoming an essential part of everyday life for consumers. Laser diodes are comparatively small in weight and size, have high electrical efficiency, wide-angled beam and low voltage, power and current requirements. Laser diodes also offer various advantageous features over regular laser systems used earlier like helium-neon, gas and ruby.
According to TMR reports, the global market for laser diode is expected to rise up to US$10.26 bn by 2020 with an expansion of 12.60% CAGR during the forecast period of 2014 to 2020. Asia Pacific is expected to continue its domination in the laser diode market in the forecast period followed by Europe and North America.
In the year 2013, the most popular and more often used technology was infrared laser diode segment which was leading in the market and is expected to continuously hold its position in the market till 2020.
Factors influencing the growth of the laser diode market are growing demand for fiber laser, industry awareness about various advantages of laser, and extensive research on vertical cavity surface emitting laser (VCSEL).Another beneficial factor for the laser diode market is the increasing number of internet users in regions such as Southeast Asia and Latin America.
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Demand for Global Laser Diodes Rises with its Multiple Applications
The laser diode market is being propelled by rapid growth in electronic and automotive manufacturing along with the technological advancements. The major growth factor in laser diode market are the advantages it offers in comparison to other material processing technologies. Laser Diode is smaller in size, operates at low power but gives high power output with high efficiency. These diodes are manufactured in arrays and can be incorporated in various applications in military sectors, instrumentation, semiconductor, as well as medical field as well. They are more precise and efficient as compared to the customary material processing technologies.
Large Scale Installation of Laser Diodes may be Hampered Due To High Cost
The increasing environmental concerns related to mining of earth’s rare elements are presumed to hamper the growth of the laser diode market throughout the forecast period. Laser diode has critical heating problem and requires high drive current to operate larger laser pallets. Other than that laser diodes also require cost.
Despite that, laser diodes are becoming an essential part of modern technology rapidly. Laser diodes have the ability to function in extreme temperature conditions of over 60°C (140°F) without having to cool them. This feature has enhanced the utility of green laser diodes significantly. At the same time, healthcare industries and consumer electronics are predicted to show a swift rise in demand over the years to come.