Semiconductor Lasers Market to Grow at 6.7% CAGR by 2030
Increasing use of semiconductor lasers in defense and industrial sectors due to its small size, high efficiency, light weight and long-life span has led the global semiconductor lasers market to flourish.
The Global Semiconductor Laser Market is expected to grow at a CAGR of 6.7 % from 2020-2030, according to a new research report by Next Move Strategy Consulting.
Semiconductor lasers are more efficient compared to the conventional lasers as they use active semiconductor materials for light amplification. The increasing adoption of fiber optic lasers in the telecommunication industry and the rising preference of semiconductor lasers as compared to other light sources are driving the semiconductor lasers market globally. Also, the feature such as less distance attenuation resulting in extended reach and accurate pointing has boosted the overall semiconductor lasers market globally. However, some drawbacks such as low power production and greater beam divergence compared to other laser types hinders the market growth. On the contrary, the increasing requirement of semiconductor laser in medical sector is fueling the market demand. Also, the increasing global demand of data storage capabilities is opening new opportunities for the market players.
Semiconductor laser market is segmented based on type, end users and geography. On the basis of type the market is classified into fiber optic lasers (FOL), vertical cavity surface emitting lasers (VCSEL), compact disc lasers (CDL), high power diode lasers (HPDL), red lasers, violet lasers, green lasers, and blue lasers. Based on end user, it is classified into optical storage devices, lithography, healthcare, defense and R&D, sensors, display, printing, communication, and industrial. By geography, it is analyzed across North America, Europe, Asia Pacific, and RoW.
Geographically, Asia Pacific is expected to experience an increased demand and popularity of semiconductor lasers owing to expanding manufacturing and rising industrialization in the region. However, the market is growing at a moderate rate in Europe and North America. This is due to the imminent favorable initiatives taken by the U.S. Federal Government, in association with the International Electro-technical Commission, endorses and supports the usage of 3D printers particularly in the healthcare division with specific authoritarian directives.
Browse Key Industry Insights Report, “Semiconductor Lasers Market By Type (FOL, VCSEL, CDL, HPDL, Red Lasers, Violet Lasers, Green Lasers, and Blue Lasers) and By End Users Applications (Optical Storage Devices Lithography, Healthcare, Defense and R&D, Sensors, Display, Printing, Communication, and Industrial) - Opportunity Analysis and Industry Forecast, 2020-2030.”
Some of the major key players profiled in the report includes ASML Holdings N.V., Coherent Inc., Newport Corporation, Sharp Corporation, Sumitomo Electric Industries, Ltd., Trumpf GmbH + Co. KG, Axcel Photonics Inc., IPG Photonics Corporation, Han’s Laser Technology Industry Group Co. Ltd., and Rofin-Sinar Technologies Inc.
This report provides an in-depth analysis of the global semiconductor lasers market, along with the current trends and future estimations to identify lucrative marketing and investment opportunities.
It elucidates on the key drivers, opportunities, and restraints that shape the market along with their impact analysis.
About Next Move Strategy Consulting
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