Semiconductor Lasers Market Expected to Reach $8.9 Billion by 2022, Globally - Allied Market Research
PORTLAND, Oregon and PUNE, India, March 15, 2017 /PRNewswire/ --
According to a new report published by Allied Market Research, titled, "Global Semiconductor Lasers Market: Opportunity Analysis and Industry Forecast, 2014 - 2022," the semiconductor lasers market is expected to reach $8.9 billion by 2022 from $5.5 billion in 2015, growing at a CAGR of 6.9% during the forecast period. In 2015, Asia-Pacific dominated the overall market with over 38% share and is anticipated to continue this trend during the forecast period.
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Summary of the Semiconductor Lasers Market Report can be accessed on the website at:
https://www.alliedmarketresearch.com/semiconductor-lasers-market
Semiconductor laser is a type of solid-state laser light producing device that differs from conventional lasers on the basis of mechanism used for light amplification. In a semiconductor laser, the active semiconductor components are used for amplifying the light which enables it to have compact size. In addition, it requires less power and is more efficient as compared to conventional laser.
The rise in demand of semiconductor lasers in defense sector, increased usage in medical sector, dedicated assembly, and low tolerance for packaging error fuel the market. However, the market growth is largely restrained by reliability issues and complexities in testing processes. Although, increase in demand for data storage where semiconductor lasers are used opens new opportunity for the players.
In 2015, fiber optic laser (FOL) contributed over 40% market share-the largest in terms of revenue. FOL serves analog and digital fiber communications, radio frequency links, and research applications. The laser allows link length of over 30km and does not require any amplifiers or signal distribution to multiple receivers as the power levels in lasers are higher than the conventional signal sources. However, green laser is anticipated to grow at a faster CAGR of 8.34% during the forecast period.
By end user application, the communication segment held over 30% revenue share and dominated the semiconductor lasers market in 2015. Green lasers can be used for a variety of roles such as pointing devices. Its ability to form a line in the dark has led to its usage as rescue lights as it can be seen from miles. In addition, it has been used for laser light shows and sky gazing as a person can pinpoint a star by using the green laser. It can also be used as a laser pointers for guns and rifles.
By geography, Asia-Pacific dominated the global semiconductor lasers market with over 35% share in overall revenue; followed by North America, Europe, and LAMEA. Furthermore, it is anticipated to grow at the highest CAGR of 8.2% during the forecast period.
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According to Komal Sharma, Analyst, Semiconductor & Electronics at AMR, "Global semiconductor lasers market has increased at a sustainable pace in last couple of years. Owing to the increase in usage among defense, healthcare, and other industries, the market is forecasted to have high growth opportunities in the years to come."
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Key findings of the study
- Fiber optic laser segment dominated the market in 2015, with over 45% of market share. However, green laser and HPDL is expected to grow at a higher CAGR of 8.3%, during the forecast period.
- Communication application segment accounted for over 32% of the market in 2015.
- LAMEA is anticipated to be among one of the fast growing regions owing to the presence of rapidly growing automotive industry.
- Asia-Pacific dominated the market in 2015 due surge in demand for semiconductor lasers in China, South Korea, and Japan.
The major players profiled in the report include 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.
Summary of similar reports can be viewed at: https://www.alliedmarketresearch.com/semiconductor-and-electronics/semiconductors-market-report
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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