The global laser diode market was valued at USD 4.60 billion in 2013, growing at a CAGR of 12.6% from 2014 to 2024. 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.
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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Advancement in technologies across the globe particularly in the developing economies of Asia Pacific and Rest of the World region coupled with rapid growth in automotive and electronic manufacturing across both the regions is propelling the laser diode market. In addition, 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 the laser diode market, globally. Asia Pacific dominated the laser diode market in the year 2013 and is expected to continue its dominance over the forecast period. North America and Europe trailed Asia Pacific in the year 2013.
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The laser diode market is also segmented based on technology into double hetero structure laser diodes, quantum well laser diodes, quantum cascade laser diodes, distributed feedback laser diodes, SCH laser diodes, VCSEL diodes, and VECSEL diodes. In 2013, distributed feedback laser diode technology led the global market, and is expected to continue its dominance during the forecast period. SCH laser diode technology was the second most majorly used technology in the year 2013.
Furthermore, the laser diode market is segmented on the basis of property (wavelength) into infrared laser diodes, red laser diodes, blue laser diodes, blue-violet laser diodes, green laser diodes, and ultraviolet laser diodes. The infrared laser diode segment led the market in 2013 and is expected to continue to hold its position in the market until 2024. The blue laser diode segment and the red laser diode segment trailed the infrared laser diode segment, in the same year.
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