The global laser diode market was valued at USD 8.26 billion in 2019, and it is expected to reach USD 15.01 billion by 2025, registering a CAGR of 11.2%, . According to the laser-focus world, the market for laser materials-processing systems grew by an incredible 50% from 2016 to 2018. In 2019, one of the key trends is the rise of VCSEL technology for applications like facial recognition in smartphones. VCSELs are a type of laser diode that offers superior beam properties, thermal stability, and device scalability compared to products like Fabry Perot laser diodes.
– The increasing adoption of high-power laser diodes in autonomous vehicle technologies drives the market. The optical technologies are in demand for autonomous vehicles, such as high laser beam, which is converted into white light and directed onto the road via tiny reflectors by the high light density of the laser that helps the drivers to see 600 meters ahead of them (about double the distance possible with the previous LED high beams). LiDAR systems are the key to the development of autonomous vehicles. Research institutes, photonics companies, and traditional suppliers of automotive parts are currently positioning themselves with new LiDAR technology to play a part in this market in the future.
– Fraunhofer Institute for Microelectronic Circuits and Systems IMS presented a Flash LiDAR Instead of directing the laser beam onto a rotating mirror for a 360 degrees view, the system emits laser flashes that expose a rectangular measuring field up to 100 meters wide. Highly sensitive single-photon avalanche diodes (SPADs) detect reflected light.
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Key Market Trends
Adoption of Laser in Medical and Healthcare to Drive the Market Growth
– The past few years have witnessed increased demand for laser diodes in the healthcare sector owing to their assistance to physicians to focus the beam with better precision on directed areas, preventing unwanted damage to the surrounding area.
– However, these lasers are used to process plastics for medical devices (polymer processing). There is an increased demand for cosmetic surgery procedures, which include surgical and non-surgical procedures that improve the appearance by reshaping and enhancing the body structure. For instance, according to American Society of Plastic Surgeons (ASPS), almost 18 million people underwent surgical and minimally invasive cosmetic procedures in the United States in 2018 for contouring, skin resurfacing, wrinkle and pigmentation reduction, and tattoo removal, providing the growth to the energy-based aesthetic treatment system.
– Of all the wavelengths in which the laser diode operates, the green laser diodes have operational advantages over other wavelengths. As these green laser diodes are capable of operating in a wide range of temperatures, have a long lifetime, and are highly reliable at continuous operation, the growth potential of this type of laser diodes is high.
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