Semiconductor Lasers Market Size to Reach USD 12.74 Billion in 2028 | Increasing Industry Awareness Regarding Uses and Benefits of Semiconductor Lasers in Various Applications is a Key Factor Driving Industry Demand, According to Emergen Research
VANCOUVER, BC, Jan. 26, 2022 /PRNewswire/ -- The global semiconductor lasers market size was USD 7.58 Billion in 2020 and is expected to register a CAGR of 6.7% over the forecast period. Small size, light weight, and high energy efficiency are key factors driving demand for semiconductor lasers and boosting market revenue growth.
Drivers: Cooling techniques
Passive cooling generation feature of semiconductor lasers enables cooling atoms down by causing them to lose some of their kinetic energy. This capacity to control atomic motion in turn helps researchers to study behavior of atoms more effectively and accurately. In addition, cost effectiveness, less complexities, and adjustability are other factors are driving revenue growth of the global semiconductor lasers market.
Restraints: Low power production
Low power production is a key factor restraining demand for semiconductor lasers in many devices. Low power production draws higher internal current and therefore, generates excessive heat, and this results in shorter equipment lifecycle. In addition, heavy housing is required due to low power and high heat generation and need for this to be absorbed. Furthermore, larger load requirements and less reliability are factors associated with low power production, which in turn is negatively impacting adoption and restraining growth of the semiconductor lasers market.
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Growth Projections
The global semiconductor lasers market size is expected to reach USD 12.74 Billion in 2028 and register a revenue CAGR of 6.7% over the forecast period. Rising adoption of semiconductor lasers in 3D sensing technology is a key factor driving global semiconductor lasers market revenue growth.
COVID-19 Direct Impact
The pandemic has moderately affected the global semiconductor lasers market. Global lockdown imposition led to shut down of manufacturing facilities, and this resulted in supply chain disruption. In addition, decline in industrial activities has hampered material processing markets, and demand for semiconductor lasers decreased in parallel. In order to avoid spread of COVID-19, some organizations opted to allow employees to work-from-home. Large number of office employees transformed into work-at-home employees. Internet and voice communication service providers upgraded their networks to cater to rising demand for faster connectivity and bandwidth and more updated wireless networks.
Current Trends and Innovations
Ongoing research and development of more efficient semiconductor lasers and diode lasers has been resulting in emergence of more possibilities and potential for application in more areas and devices and equipment. Edge-Emitting Lasers (EELs) and Vertical-Cavity Surface-Emitting Lasers (VCSELs) are the main semiconductor laser technologies being deployed for 3D sensing. Advancements of HPLD technology are resulting in rising challenges regarding packaging affecting output power, brightness, spectrum, and others, and resolving these challenges is an ongoing trend. More sophisticated packaging approaches have already been developed with the objective to improve thermal management for different designs, including single emitters, bars, and stacks.
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Geographical Outlook
Semiconductor lasers market in Asia Pacific accounted for significant revenue share in 2020. Increasing industrialization along with manufacturing is driving market growth in this region. Beside this region, other developing countries in Middle East, Africa and South America region are also installing upgraded technologies, which is driving market growth.
Strategic Initiatives
In November 2021, Osram Licht AG, a global leader in optical solutions announced the launch of SPL TL90AT03. This launch is ideal for applications, such as site leveling, industrial automation, and invisible traffic monitoring.
Sharp Fukuyama Laser Co. Ltd., which is a Japan-based company, recently formed a subsidiary of Sharp's diode laser business. The company is focusing on building laser with increased power and efficiency in Red, Green, and Blue (RGB) spectral and Infrared Radiation (IR) region for application in pumps for telecommunication fiber lasers and light sources for displays. High power at short wavelengths of green laser enhances performance of material processing for some highly reflective metals including copper.
Some Key Highlights From the Report
- High powered diode laser segment is expected to register faster growth rate during the forecast period owing to high demand as a result of awareness of benefits such as efficiency and long service life. High powered laser diodes are considered the most efficient source of artificial light. These components have ability to convert electrical energy to visible light, and at the same time, this type of semiconductor laser provides greater power and brightness compared to any alternative source. Greater durability makes high power diode lasers more preferred for deployment across manufacturing industries.
- Printing segment revenue is expected to register steady growth rate during the forecast period. Semiconductor lasers are widely used in laser printing, attributed to these lasers' ability to speed up printing process and improve resolution.
- Major players in the market report include Coherent Inc, Sharp Corporation, Han's Laser Technology Industry Group Co. Ltd., IPG Photonics Corporation, Sumitomo Electric Industries, Ltd., ASML Holding N.V., Osram Licht AG, ROHM Co. Ltd., TRUMPF, and Panasonic Corporation.
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Emergen Research has segmented the global semiconductor lasers market on the basis of type, application, and region:
- Type Outlook (Revenue, USD Billion; 2018–2028)
- Fiber Optic Lasers (FOL)
- Vertical Cavity Surface Emitting Lasers (VCSEL)
- Compact Disc Lasers (CDL)
- High Powered Diode Lasers (HPDL)
- Red Lasers
- Blue Lasers
- Green Lasers
- Violet Lasers
- Application Outlook (Revenue, USD Billion; 2018–2028)
- Optical Storage
- Lithography
- Healthcare
- Defense Research & Development (R&D)
- Communication
- Display
- Sensors
- Printing
- Other Industrial
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- Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- Rest Of MEA
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