Laser diodes offer advantageous features such as compact in weight and size, work on low current, voltage, and power supplies, have low maintenance and efficiency and a wide angle beam. Thus, the technology is utilized across numerous end-use application sectors such as healthcare, consumer electronics, military & defense, industrial, manufacturing, automotive and instrumentation & sensors among others.
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China led the laser diode market in Asia Pacific (APAC) in 2015 and is expected to continue its dominance by rising at a CAGR of 11.8% during the forecast period from 2015 to 2025. Increasing demand for advanced technology in the healthcare and industrial markets is driving the growth in the laser industry. Moreover, there is a sharp rise in demand for laser diodes within the defense & security verticals for applications such as neutralization of the opponent’s weapon systems, airborne laser mine detection system (ALMDS), range finding, anti-missile systems, and target designation.
The U.S. led the laser diode market in North America in 2015 at a revenue share of 59.89%. Even though there is huge demand for laser diodes in the upgrading of wireless technology, the sale of fiber lasers continues to gain momentum in North America due to their demand in FTTH applications. It is anticipated that the fiber laser technology would evolve during the forecast period and 100 Gb/s would become the norm with the focus shifting to the metro/regional landscapes. Furthermore, North America is witnessing an increased demand for laser cutting machines and industrial laser applications due to the significant use of these machines across several end-use verticals such as automotive, defense & aerospace, and consumer electronics.
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The global laser diode market has been...