Laser Diode Market Size worth $22.25 Billion, Globally, by 2030 – Exclusive Report by The Insight Partners
The global laser diode market is growing at a CAGR of 13.8% from 2022 to 2030.
Pune, India., Nov. 10, 2023 (GLOBE NEWSWIRE) — According to a new report published by The Insight Partners on “Laser Diode Market Size and Forecast (2020–2030), Global and Regional Share, Trends, and Growth Opportunity Analysis – by Doping Material (AlGaInP, GaAlAs, GaN, InGaN, and Others), Wavelength (Infrared Laser Diode, Red Laser Diode, Blue Laser Diode, Blue-Violet Laser Diode, and Others), and Application (Telecommunication, Consumer Electronics, Healthcare and Life Sciences, Automotive, Military and Defense, and Others), and Geography” the market in terms of revenue was estimated to be worth $8.03 billion in 2022 and is poised to reach $22.25 billion by 2030, growing at a CAGR of 13.8% from 2022 to 2030.
The growth of the laser diode market is driven by strategic initiatives by market players, rise in electronics industry, and rise in adoption of VCSEL for 3D sensing applications. However, miniaturized electronics is emerging as a future trend in the industry.
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Global Laser Diode Market Scope:
|Market Size Value in||USD 8.03 Billion in 2022|
|Market Size Value by||USD 22.25 Billion by 2030|
|Growth rate||CAGR of 13.8% from 2022 to 2030|
|Segments covered||Doping Material, Wavelength, Application, and Geography.|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America.|
|Country scope||Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States|
|Report coverage||Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends|
Miniaturized Electronics to Fuel Global Laser Diode Market Growth from 2022 to 2030:
The miniaturization of electronic components plays an important role in the electronic industry. It helps save space so that additional parts or technology can be integrated, and the overall size of consumer electronics, medical devices, and automobiles can be reduced. For example, the free-up component space can allow the incorporation of larger batteries without impacting the size of the electronic device, which contributes to manufacturers’ and end users’ interest in adopting miniaturization technology. The miniaturization of electronics leads to less power consumption due to its small size and enhanced efficiency. Due to the benefits of miniaturization technology, the demand for miniature components will increase. A laser diode is a suitable option to fit in miniature devices as it generates high output power compared to a light-emitting diode (LED). Laser diodes offer advanced sensing ranges and high precision, leading to their adoption over LED in various industry verticals such as medical, telecommunications, industrial, and automation. Thus, the rise in miniaturized electronics and its compatibility with laser diodes is anticipated to fuel the laser diode market during the forecast period.
Global Laser Diode Market: Industry Overview
The laser diode market is segmented on the basis of doping material, wavelength, application, and geography. By doping material, the laser diode market is segmented into AlGaInP, GaN, GaAlAs, InGaN, and others. Based on wavelength, the laser diode market is segmented into blue laser diode, blue-violet laser diode, infrared laser diode, red laser diode, and others. By application, the laser diode market is segmented into automotive, consumer electronics, healthcare, military & defense, and others. Based on geography, the laser diode market is categorized into North America, Asia Pacific, Europe, the Middle East & Africa, and South America.
The global laser diode market is segmented into five major regions—North America, Europe, APAC, the Middle East & Africa, and South America. In 2022, Asia Pacific led the global laser diode market with a substantial revenue share, followed by North America and Europe. The laser diode market in North America is segmented into the US, Canada, and Mexico. The market for laser diodes is expanding due to the increased demand for laser-based systems and components in metal processing, consumer electronics, and medical equipment. Moreover, laser diodes have applications in modern defense systems as laser diodes help the military with non-lethal weapons. For instance, in April 2023, the US Department of Defense (DOD) contracted NUBURU to be a part of the multiple award Indefinite Delivery/Indefinite Quantity (IDIQ) contract for the fabrication and delivery of equipment and prototypes to support solid-state high energy laser (HEL) weapon systems. Several players across North America have launched laser diodes for the application of imaging. For instance, in October 2022, Biotium partnered with OMEC Medical to develop and launch the next-generation Gel-Bright Laser Diode Gel Illuminator. The launched product has excellent performance with a wide range of fluorescent dyes, and it does not require laser safety goggles.
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Global Laser Diode Market: Competitive Landscape
Coherent Corp; IPG Photonics Corporation; Nuvoton Technology Corporation; Sharp Corp; Sheaumann Laser, Inc.; Sumitomo Electric Industries Ltd; TRUMPF SE + Co KG; Jenoptik AG; Mitsubishi Electric Corp; and ams-OSRAM AG are among the leading players profiled in the laser diode market report. Several other essential Laser Diode Market players were analyzed for a holistic view of the market and its ecosystem. The report provides detailed market insights, which help the key players strategize their market growth.
- In June 2023: Coherent Corp announced the introduction of its next-generation pump laser diode, with 65 W of output power for fiber lasers in industrial and consumer applications.
- In August 2022: Coherent Corp. announced that it signed a memorandum of understanding (MoU) with two Korean institutions, i.e., the Electronics and Telecommunications Research Institute (ETRI) and the Korea Advanced Institute of Science & Technology (KAIST), to foster collaboration on advanced electronic and photonic devices, with a focus on the Korean market.
- In September 2023: IPG Photonics Corporation announced the highlight of new and innovative laser solutions at The Battery Show from September 12-14, 2023, in Novi, Michigan, US. The IPG booth will include industry-leading fiber laser sources and automated laser systems for EV battery welding applications.
Go through further research published by The Insight Partners:
GaN Laser Diode Market – Global Analysis and Forecast to 2030
Visible and UV Laser Diode Market – Global Analysis and Forecast to 2028
Blue Laser Diode Market – Global Analysis and Forecast to 2030
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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