Laser Diode Market - Bolster Growth by Advancement in Technologies Across the Globe

Significant growth in the usage of laser diodes across various end-use markets owing to a number of advantageous features offered by this technology over conventional technologies is a key factor driving the laser diode market globally. In addition, the rapid growth in automotive and electronic manufacturing across the globe particularly in the developing economies of Asia Pacific and Rest of the World region is further propelling the laser diode market.

Furthermore, growing applications of laser diodes across end-use verticals such as military and defense, healthcare and medical, fiber optic communication and telecommunication are further bolstering this market, globally.
The global laser diode market was valued at USD 4.60 billion in 2013, growing at a CAGR of 12.6% from 2014 to 2020. A laser diode is an electrically-pumped system wherein the active medium is formed by the p-n junction of a semiconductor diode, similar to that found in a LED.

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Laser diodes are rapidly becoming an indispensible part of modern technology and are being used in applications such as CD players, communications, laser printers, industrial processing machineries, laser pointers, and research & development. Laser diodes offer several advantageous features over the conventional laser systems such as ruby, helium-neon, and gas types. Laser diodes are smaller in size and weight, have low voltage, current and power requirements, and have high electrical efficiency and low maintenance, and a wide-angle beam.

The laser diode market is segmented by doping materials into InGaN, GaN, AlGaInP, GaAlAs, GaInAsSb and other types of doping materials. The AlGaInP based laser diodes dominated the market in 2013 owing to rapid usage in optical discs, laser pointers, DVD players and data communications among others and is expected to continue its dominance during the forecast period. GaAlAs based laser diode segment and GaN based laser diode segment trailed the AlGaInP based laser diode segment in the year 2013.

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The global laser diode market is segmented on the basis of applications into industrial, consumer electronics, automotive, healthcare, defense and other applications. The automotive application segment led the market in 2013 due to usage of laser diodes for the purpose of lighting, and in engraving, marking and molding of automotive plastic in automotive manufacturing units.
This is due to the fact that laser diodes offer numerous beneficial features such as increased flexibility, increased production speeds, reduced part costs, and higher reliability. The industrial application segment followed the automotive application segment in the year 2013. 

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