Semiconductor Laser Market Size to Reach USD 15.56 Billion in 2032
According to the report, The global semiconductor laser market size reached USD 8.19 Billion in 2021 and is expected to register a revenue CAGR of 6.7% during the forecast period
The demand for Semiconductor Laser Market is increasing significantly due to development in communication technology and requirement of high speed connectivity in data dependent industry. Similarly, new age application such as 3D Printing, Advanced healthcare and Lighting technology is also fuelling the growth of the Semiconductor laser market.
Global Semiconductor Lasers Market: Overview
In semiconductor lasers, light amplification takes place by making use of active semiconductor substance. Semiconductor lasers are considered to be more advanced, developed, and competent over the traditional/conventional lasers. The semiconductor lasers are substituting conventional/traditional lasers in different applications. In addition to this, semiconductor lasers are small in size, needs less power, and are competent based on performance as compared to conventional lasers.
Global Semiconductor Lasers Market: Growth Factors
The surging recognition and acceptance of fiber optic lasers in the connectivity and communication verticals and the rising inclination for semiconductor lasers as compared to other light sources are anticipated to propel the growth of the semiconductor lasers market. The rising operation of semiconductor lasers in a variety of applications in various sectors has further fuelled the development of the market. The increasing use of 3D printing in the architectural and healthcare platforms is likely to augment the demand and popularity for semiconductor lasers.
Augment in the utilization of semiconductor lasers, particularly, in defense division owing to the undersized body, long lifespan, lightweight, and high efficiency is projected to increase the demand for the semiconductor lasers market. Furthermore, the semiconductor lasers are considered to be cost-effective, simple in plan/design, and have high effectiveness. The growth in the need for semiconductor lasers in the medical division also propels the growth of the semiconductors lasers market demand. On the other hand, low packaging tolerance error, delicate design, and less testing & reliability hold back the market development. The boost in demand and popularity of data/information storage potential is opening several opportunities and prospects for the market players.
Global Semiconductor Lasers Market: Segmentation
Semiconductor lasers market is classified in terms of type. Based on the type, the market is further categorized into vertical cavity surface emitting lasers (VCSEL), fiber optic lasers (FOL), high power diode lasers (HPDL), compact disc lasers (CDL), violet lasers, red lasers, blue lasers and green lasers. In terms of the end user, the semiconductors lasers market is divided into healthcare, industrial, optical storage devices lithography, R&D, defense, display, sensors, communication, and printing.
Global Semiconductor Lasers Market: Regional Analysis
The Asia Pacific region is projected to experience an increased demand and popularity in the semiconductor lasers market due to the high manufacturing and industrialization in the region. The market is growing at a moderate rate in Europe and North America. The Asia Pacific semiconductor lasers market is anticipated to witness a high growth rate due to the considerable demand and popularity from the end-user industries such as display manufacturing, industrial machinery, healthcare industry, and sensors manufacturing. The imminent favorable initiatives taken by the U.S. Federal Government, in association with the International Electrotechnical Commission, endorses and supports the usage of 3D printers particularly in the healthcare division with specific authoritarian directives is expected to drive the market growth in North America.
Global Semiconductor Lasers Market: Competitive Players
Some of the most important market players in the semiconductor lasers market are -
- Sumitomo Electric Industries
- Coherent Inc.
- Trumpf GmbH + Co. KG
- Sharp Corporation
- Newport Corporation
- Axcel Photonics Inc.
- IPG Photonics Corporation
- Rofin-Sinar Technologies Inc.
- ASML Holding NV
Global Semiconductor Lasers Market: Regional Segment Analysis
- North AmericaThe U.S.
- EuropeThe UKFranceGermany
- The Asia PacificChinaJapanIndia
- Latin AmericaBrazil
- The Middle East and Africa
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