Miniaturized Electronics to Fuel Laser Diode Market Growth During Forecast Period
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.
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.
Laser Diode Market: Competitive Landscape and Key Developments
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. A few developments are mentioned below:
- 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.