Laser diodes: Key market research findings
- Market growth is directly proportional to the growth in application sectors
- APAC dominates the market geographically
- Key vendors – Coherent, IPG Photonics, OSRAM, Rofin-Sinar Technologies, and TRUMPF
Technavio’s market research analysts predict the global laser diode market to grow at a CAGR of around 11% between 2016 and 2020. The demand for laser diodes is augmented by the high growth in their major application sectors such as body contouring, hair removal, LASIK surgery, OCT, skin resurfacing, tattoo removal, and wrinkle reduction. In 2015, APAC accounted for the highest market share, occupying almost 45% of the global laser diode market. The growth in the communication industry in countries such as China, Japan, South Korea, Australia, and India is expected to boost growth in the laser diode market in APAC during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the laser diode segments based on application.
“One of the latest trends gaining prominence is the increase in M&A deals in the laser diode market across the globe. Vendors are focusing on collaborations in an attempt to expand their product portfolio and improve their respective market shares. Companies are able to attain economies of scale and produce better technological systems through involvement in M&As,” says Sunil Kumar Singh, Lead Analyst, Hardware & Semiconductor, Technavio Research.
The industrial application segment accounted for around 34% of the overall market share in 2015 to become the dominant shareholder in the laser diode market globally. In this segment, laser diodes find widespread application in material processing and lithography and for cutting metals and welding plastics owing to their high efficiency, power, and brightness. Other applications of laser diodes include plastic welding, brazing, ablation, soldering, and surface hardening.
The key vendors in the market include Coherent, IPG Photonics, OSRAM, Rofin-Sinar Technologies, and TRUMPF. The global laser diode market has quite a few suppliers, and competition is expected to intensify with the entry of several new vendors. Competition is based on innovations, service and price. Suppliers are very focused on developing value chains in which component assembly and valued added services play a vital role. Larger companies are buying out small vendors so that they can increase market share and reduce costs.
A more detailed analysis is available in the Technavio report, Global Laser Diode Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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