Press release
Laser Diode Market Poised for 11 % Growth, Set to Hit $14.66 Billion by 2029
Laser Diode Market Size
The surge in demand within the EV automotive sector is predicted to impel the expansion of the laser diode market. Electric vehicles, which contain an electric motor powered by battery-stored electricity, are increasingly being embraced in response to COVID-19 and the goal of reaching net-zero emissions. Laser diodes - optoelectronic devices which transform electricity into light energy for high-intensity coherent light production - are utilized in these electric vehicles, enhancing the demand. Notably, the U.S. Energy Information Administration reported in November 2023 that the percentage of battery-electric vehicles (BEVs) in new light-duty vehicle sales surged to 17.7% in the third quarter of 2023. BEVs made up 16.0% of all new vehicle sales in that year, a rise from 12.5% in 2022 and 9.0% in 2021, as announced by Wards Intelligence. This evidence underscores a significant upswing in demand for electric vehicles, mirroring an escalating consumer preference and market proliferation. Thus, the heightened demand for autonomous vehicles propels the growth of the laser diode market.
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How will the growth rate of the laser diode market shape industry trends by 2034?
In recent times, there has been a quick expansion of the laser diode market. It's estimated that its worth will escalate from $8.57 billion in 2024 to $9.55 billion in 2025, showing a compound annual growth rate (CAGR) of 11.4%. The significant increase in the past can be linked to demand in telecommunications, consumer electronics, medical utilization, industrial and manufacturing usage, along with automotive lidar systems.
Projections indicate that the laser diode market will experience swift expansion in the ensuing years. The anticipated surge will reach $14.66 billion by 2029, with a compound annual growth rate (CAGR) of 11.3%. The expected growth during this forecast period can ascribed to factors such as 5g and data centers, defense and security, downsizing and consumer electronics, energy efficiency and cost-competitiveness, as well as environmental monitoring. Integration in the fields of augmented reality and virtual reality, a shift towards eco-friendly technology, R&D advancements in materials, and environmental sensing and monitoring are all major trends predicted for this forecast period.
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What trends are poised to drive the future success of the laser diode market?
The rapidly growing trend of product innovations is becoming increasingly evident in the laser diode market. The leading companies in this market are leveraging creative solutions to enhance the laser diode industry. For instance, Lumentum Holdings Inc., a firm based in the US and prominent in the laser diode sector, unveiled a new addition to its lineup of high-precision ultrafast industrial lasers, FemtoBlade, in April 2022. This new system stands out due to its modular structure, which provides high power at high repetition rates, leading to increased versatility, faster operation speed, and improved throughput for applications in micromachining such as OLED, PCB, ceramic and glass cutting, engraving, and solar cell processing. The modularity of the FemtoBlade laser facilitates easy field replacement of its non-linear optics unit, drastically reducing downtime.
Which primary segments of the laser diode market are driving growth and industry transformations?
The laser diode market covered in this report is segmented -
1) By Property: Infrared Laser Diode, Red Laser Diode, Blue Laser Diode, Blue Violet Laser Diode, Green Laser Diode, Ultraviolet Laser Diode
2) By Doping Material: InGaN, GaN, AIGaInP, GaAs, Other Doping Materials
3) By Technology: Double Hetero Structure Lasers Diodes, Quantum Well Lasers Diodes, Quantum Cascade Lasers Diodes, Distributed Feedback Lasers Diodes, SCH Lasers Diodes, VCSEL Diodes, VECSEL Diodes
4) By End-User Industry: Aerospace And Defense, Automotive, Consumer Electronics, Electronics And Semiconductors, IT And Telecommunication, Other End-Users
Subsegments:
1) By Infrared Laser Diode: 800 nm To 1,200 nm, 1,200 nm To 1,600 nm
2) By Red Laser Diode: 630 nm To 660 nm, 670 nm To 705 nm
3) By Blue Laser Diode: 400 nm To 450 nm
4) By Blue Violet Laser Diode: 405 nm To 410 nm
5) By Green Laser Diode: 520 nm To 532 nm
6) By Ultraviolet Laser Diode: 250 nm To 400 nm
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Which geographical regions are pioneering growth in the laser diode market?
Asia-Pacific was the largest region in the laser diode market in 2024. Asia-Pacific is expected to be the fastest-growing region in the laser diode market during the forecast period. The regions covered in the laser diode market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the influential players reshaping the laser diode market landscape?
Major companies operating in the laser diode market include Coherent Inc., Hamamatsu Photonics K.K, IPG Photonics Corp., Jenoptik AG, Newport Corporation, ROHM Semiconductor, Sharp Corporation, Sumitomo Electric Industries Ltd, Trumpf Gmbh + Co. KG, austriamicrosystems AG, Axcel Photonics Inc., Bluglass Limited, Frankfurt Laser Company, Kyocera Corporation, Lumentum Holding Inc., MKS Instruments Inc., Power Technology Inc., Thorlabs Inc., Ushio Inc., Panasonic Semiconductor Solutions Co. Ltd, Nichia Corporation, OSI Systems Inc., Laser Components GmbH, Sony Corporation, Mitsubishi Electric Corporation, Nippon Electric Company Ltd. , Laser Quantum Ltd., Quantel Laser
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What Is Covered In The Laser Diode Global Market Report?
• Market Size Forecast: Examine the laser diode market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the laser diode market for a structured understanding.
• Key Players Overview: Analyze major players in the laser diode market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the laser diode market.
• Segment Contributions: Evaluate how different segments drive overall growth in the laser diode market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the laser diode market.
• Industry Challenges: Identify potential risks and obstacles affecting the laser diode market.
• Competitive Landscape: Review strategic developments in the laser diode market, including expansions, agreements, and new product launches.
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