Laser diodes are also used in surgeries due to their features which include a diverse range of operating wavelengths. Furthermore, it can also be modulated directly by using frequencies up to GHz range in high-speed communications. Thus, there is no delay in the input of operating surgeon and output of laser radiation. In addition,these are easily adjustable in terms of power output from 0% to 100%, thereby providing flexibility in the dosage of laser output. On the other hand, solid state lasers have restrictive adjustable power output ranging from 60% to 100%. This feature makes laser diodes the perfect tool for medical and healthcare applications. Thus, the expansion of electronics and healthcare industries complements the growth of the market owing to the substantial utilization of laser diodes across various applications in these industries.
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Some of the key factors driving the global market include growing awareness about laser diode and its uses, growing fiber laser market, and remarkable research in the VCSEL market. Significant rise in the use of laser diodes in various end-use markets due to a number of advantageous features provided by laser technology in-comparison to traditional methods is a major factor driving this market. Moreover, the rapid growth in automotive industries and electronic manufacturing across the world is bolstering the global market. However, the major hindrance to this market include lack of R&D funding for the military segment coupled-with high initial costs required to manufacture laser diodes. However, projection applications provided by green laser diode devices are analyzed to create several opportunities for growth in this market during the near future.
Brazil led the South America (SAM) laser diode market in 2015 and is likely to continue its dominance by expanding at a CAGR of 12.2% during the forecast period from 2015 to 2025. Brazil boasts of the largest manufacturing sector in SAM, which accounts for nearly one-third of SAM’s GDP. Brazil has an array of industries ranging from automobile, steel, and petrochemicals to computers, aircrafts, and consumer durables that deploy laser diodes in their applications.
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The U.S. led the laser diode market in North America in 2015 at a revenue share of 59.89%. Even though there is huge demand for laser diodes in the upgrading of wireless technology, the sale of fiber lasers continues to gain momentum in North America due to their demand in FTTH applications. It is anticipated that the fiber laser technology would evolve during the forecast period and 100 Gb/s would become the norm with the focus shifting to the metro/regional landscapes. Furthermore, North America is witnessing an increased demand for laser cutting machines and industrial laser applications due to the significant use of these machines across several end-use verticals such as automotive, defense & aerospace, and consumer electronics.
Geographically, the global laser diode market is segmented into Europe, North America, Asia Pacific, South America and Middle East & Africa. Some of the key players operating in this global market include IPG Photonic Corp., Coherent, Inc., Newport Corp., ASML Holding NV, Axcel Photonics, Inc., Rofin-Sinar Technologies Inc., Sumitomo Electric Industries, Ltd., Sharp Corporation, Panasonic Semiconductor Solutions Co., Ltd. And Trumpf GmbH + Co. KG among others.
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