Significant growth in the usage of laser diodes across various end-use markets owing to a number of advantageous features offered by this technology over conventional technologies is a key factor driving the laser diode market globally. In addition, the rapid growth in automotive and electronic manufacturing across the globe particularly in the developing economies of Asia Pacific and Rest of the World region is further propelling the laser diode market.
Furthermore, 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 this market, globally.
The laser diode market is being propelled by rapid growth in electronic and automotive manufacturing along with the technological advancements. The major growth factor in laser diode market are the advantages it offers in comparison to other material processing technologies.
Laser Diode is smaller in size, operates at low power but gives high power output with high efficiency. These diodes are manufactured in arrays and can be incorporated in various applications in military sectors, instrumentation, semiconductor, as well as medical field as well. They are more precise and efficient as compared to the customary material processing technologies.
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The increasing environmental concerns related to mining of earth’s rare elements are presumed to hamper the growth of the laser diode market throughout the forecast period. Laser diode has critical heating problem and requires high drive current to operate larger laser pallets. Other than that laser diodes also require cost.
Despite that, laser diodes are becoming an essential part of modern technology rapidly. Laser diodes have the ability to function in extreme temperature conditions of over 60°C (140°F) without having to cool them. This feature has enhanced the utility of green laser diodes significantly. At the same time, healthcare industries and consumer electronics are predicted to show a swift rise in demand over the years to come.