February 25, 2024
laser diode market

Laser Diode Market Poised to Experience Significant Growth due to Rising Demand of Laser Diodes in Various Applications

The global Laser Diode Market is extensively used in various sectors including telecommunications, healthcare, industrial manufacturing, automotive, material processing applications etc. Laser diodes find widespread application in laser printers, CD/DVD players, barcode scanners, laser pointers, laser aiming systems and other devices. They are also used in spectroscopy, medicine and surgery, optical communication, measurement and construction. The compact size, high power efficiency and precise beam quality of laser diodes make them an ideal light source for many applications.

The global Laser Diode Market is estimated to be valued at US$ 16.79 Mn in 2023 and is expected to exhibit a CAGR of 4.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
Rising demand of laser diodes in various applications is expected to drive the global laser diode market growth over the forecast period. Increasing use of laser diodes in healthcare industry such as cosmetic procedures, surgery and photodynamic therapy further boost the market growth. Growing demand from telecommunication sector owing to rising deployment of fiber optic networks use laser diodes for optical signal transmission which is expected to fuel the market growth. Growing industrial manufacturing activities such as cutting, welding, drilling also supports the market growth of laser diodes over the forthcoming years.

Segment Analysis
The laser diode market is segmented into mode of operation, material, wavelength, application, and region. In terms of mode of operation, the single-mode segment dominates the market and accounts for around 65% share owing to its better focus and less noise compared to multimode laser diodes.

PEST Analysis
Political: The governments across major economies are focusing on industrial automation to enhance productivity which is positively impacting the demand for laser diodes from industries like manufacturing, healthcare, and telecommunication.
Economic: With increasing economic activities across industries, the demand for laser diodes is surging owing to their wide applications from optical storage, lighting, LCD projectors, printers, measurement systems, and biomedical equipments.
Social: Rising health awareness is driving the demand for advanced healthcare equipment incorporating laser technology. Also, growing educational sector relies on laser-based equipment and projectors.
Technological: Continuous innovation in laser technology is leading to development of compact, energy efficient diodes operating at different wavelengths. Also, R&D to enable laser processing of new materials will expand application scope.

Key Takeaways
The Global Laser Diode Market Size is expected to witness high growth during the forecast period. The global Laser Diode Market is estimated to be valued at US$ 16.79 Mn in 2023 and is expected to exhibit a CAGR of 4.9% over the forecast period 2023 to 2030.

Regionally, Asia Pacific dominates the market currently owing to presence of key manufacturers and rising consumption across industries like electronic goods manufacturing, automotive, telecommunication etc in China, India, Japan and South Korea.

Key players operating in the laser diode market are Air Liquide, Air Products & Chemicals Inc., Praxair Inc., Linde Plc. These key players are focusing on capacity expansion and new product launches to strengthen their market share.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it