Press release
Laser Diode Market Demand, Research Insights by 2031
The global laser diode market is expected to cross value of US$ 18.3 Bn by the end of 2031In the telecommunication industry, laser diode plays a vital role in the broadband communication system and data centers. Laser diode is employed as fast speed transmitter in digital and analog fiber optic networks to pump lasers in Erbium doped amplifiers (EDFAs), or as high-power pulsed lasers in test and measurement sector. Companies in the laser diode market are focusing on high-growth end-use industries such as automotive and IT & telecommunication to keep their businesses growing post the COVID-19 pandemic.
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Accordingly, the market is estimated to expand at a CAGR of 11.6% during the forecast period, owing to its numerous beneficial properties such as simple economic design, high optical powers, good modulation property, and increased coupling capacity. Moreover, the growth is estimated to be majorly driven by the increase in demand for industrial applications such as precision cutting of metals, welding, heat treating, and cladding. Manufacturers should also tap into incremental opportunities in laser products to broaden their revenue streams.
A laser diode is a semiconductor device that generates coherent radiation (at the same frequency and phase) in the visible or infrared(IR) spectrum when current passes through it. This type of diode is used in optical fiber systems, laser printers, compact disc players, remote-control devices and intrusion detection systems. They are also available in a variety of output powers, wavelengths, and beam shapes. Thus, the global laser diode market is projected to grow at a decent growth rate from 2022 to 2031, owing to its favorable properties such as high monochromaticity, coherence, and directionality, as compared to ordinary light source.
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Furthermore, laser diodes are used in various devices, including motion sensors, laser printer, 3D depth sensors, sensor, and optical disk pickup. Demand for solid state lasers for data storage is rising, as the loss of data due to the aging of drive is lesser in optical data storage.
Increasing usage of laser diode in autonomous vehicles for LIDAR and radar systems, and other purposes is one of the significant factors driving the market. In the absence of a driver in self-driving vehicles, a LIDAR system becomes the eyes of a vehicle and regularly checks its surrounding environment to safely guide the vehicle to its destination. Most self- driving vehicles, currently, use a combination of LiDAR, radar, and cameras to create a 3D map of the surroundings. The LiDAR system uses laser pulses that bounce off objects and return to the sensor in order to measure distances and develop a detailed 3D map. These systems comprise a laser source, a data processing electronics, photodetector, and motion-control equipment.
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The increasing demand for laser diode is majorly due to its lower price than that of other laser devices. Autonomous vehicles find extensive orientation by comparing camera data and acceleration, speed, and GPS data. Various new initiatives in terms of new product development, mergers & acquisitions, etc., are being observed in this market. For instance, in April 2022, Power Technology, Inc. launched a new 532 nm high-power diode module for OEM applications. However, there are some limitations to LIDAR system. Pulse power must be limited, as this wavelength can dangerous to the eye, which means that this system does not work properly in bad weather. The low pulse power also reduces the range of the detection system to around 100 m.
Moreover, rise in demand for autonomous vehicles in developed as well as developing countries is a key factor estimated to boost the laser diode market during the forecast period. Furthermore, growing investment toward the development of autonomous vehicles and continuous technological innovations in the automotive industry have fueled the laser diode market growth.
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Aerospace and defense is a crucial end-use industry segment of the market for laser diode. The aerospace & defense industry has been using laser diodes as pump sources for solid-state systems for the past few decades. This continues to be the biggest application for laser diodes, with the conventional format being laser diode arrays and high power laser diode bars.
Major manufacturers offer a highly competitive range of high power laser diodes suitable for aerospace and defense applications. Laser diodes have high reliability, superior brightness, and improved power levels due to its compactness, modular design, and advanced quantum well intermixing process. Various applications of laser diodes in the aerospace & defense industry include range finding, target selection, and illumination.
Favorable government regulations boosting the adoption of advanced technologies and technological advancements are fueling the aerospace & defense industry growth, which, in turn, is propelling the demand for laser diode.
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Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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