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Semiconductor Laser Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The Semiconductor Laser Market was valued at USD 6. 31 billion in 2021 and is expected to reach USD 9. 79 billion by 2027, registering a CAGR of 7. 30% during the forecast period, 2022-2027. Semiconductor lasers are widely considered an optical communication light source for data transmission.
New York, Aug. 04, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Semiconductor Laser Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" - https://www.reportlinker.com/p06311670/?utm_source=GNW
Their compact size, high output power, and ease of integration, among other factors, may support their growth in the future.
Key Highlights
Semiconductor lasers are mainly adopted where high-performance levels are needed, i.e., it is crucial that the fiber optic link can operate over significant distances and with high data rates. These offer various advantages. For instance, they can provide a higher output level, and the light output is directional. This enables a higher level of efficiency in transferring the light into the cable. Another advantage is that these lasers can be modulated at high frequencies due to the short recombination time for the carriers within the semiconductor material.?
Semiconductor lasers have played a crucial role in modern society with an increasing number of applications in manufacturing, communication, and defense. With the growing defense budget and research grants, militaries across the world are not only adopting high-energy laser-based equipment but also investing heavily in research and development. In May 2021, the US army began testing a prototype laser weapon for close-range air defense. This provided opportunities for the vendors studied in the market.
In the communication sector, optical communication is one of the driving forces for developing laser diode technology. Diode lasers are the key components of any broadband communication system. They are employed as high-speed transmitters in digital and analog fiber optic networks, to pump lasers in Erbium doped amplifiers (EDFAs), or as pulsed lasers in the test and measurement field.
The testing of the semiconductor laser is a challenge in itself due to the temperature sensitivity. The change in temperatures affects the output of the laser and, in turn, affects the functioning of the device in which it is incorporated. The semiconductor lasers have relatively low power production and are not suited for typical laser applications; thus, reliability for heavy industrial machinery is currently not very reliable. Such factors pose a challenge for the rapid growth of the market.
Even though the pandemic slightly offset the market’s growth due to supply chain issues, post its impact, many vendors are launching new 3D printers that incorporate semiconductor lasers. Overall, the impact of the COVID-19 pandemic has created so many opportunities for the vendors to launch new products and establish strategic partnerships to further grow in the market.
Key Market Trends
Rise in Demand for OLED’s by Application Fueling the Growth
OLEDs by Application are primarily utilized in various applications such as communications & optical storage, medical, industrial, instrumentation & sensor, military & defense, and other applications.
Organic light emitting diodes or OLEDs are monolithic, solid-state devices comprising a series of organic thin films sandwiched between two thin-film conductive electrodes.
OLEDs can be used to create an excellent light source. They offer diffuse area lighting and can be flexible, efficient, light, thin, transparent, and color-tunable. Several companies all over the world are developing OLED lighting technologies.
OLED displays are also increasingly used in wearable devices, owing to their high image quality, low power consumption, and the design possibilities enabled by flexible OLEDs. Most high-end smartwatches, including those from Apple and Samsung, fitness bands, and headsets, adopt OLED displays.
With the increase in sales of smartphones, technologies like OLED in the smartphone segment are also propelling the growth of the semiconductor laser market. Also, the growth in the semiconductor industry may fuel the growth of the market.
Most premium smartphones today, including those from major vendors like Apple, Samsung, Huawei, Oppo, Motorola, and Sony, adopt OLED displays. With these mobile devices, AMOLED (active-matrix OLEDs) is commonly used. AMOLED uses OLED pixels that have thin strips of thin-film-transistors behind them. This layer helps the electric current move quicker, creating a more reactive display suitable for fast-moving applications such as video and gaming.
Asia Pacific is Expected to Witness Fastest Growth Rate
The Asia Pacific has the largest market share and is also anticipated to register the highest growth rate over the forecast period due to the high manufacturing and industrialization in the region.
The exponential growth in the communication industry in countries such as Japan, China, South Korea, and India is anticipated to drive the laser market in the Asia-Pacific region.
Additionally, countries like China, Taiwan, Korea, and Japan are the house of smartphone manufacturers such as Apple, Oneplus, Vivo, and Samsung, which makes semiconductor manufacturers around these regions produce semiconductor lasers that cater to the demands of these manufacturers.
Also, government initiatives and investments in Asia-Pacific are promoting the growth of numerous sectors. The exponential growth in the communication industry in countries such as Japan, China, South Korea, and India is anticipated to drive the laser market in the region during the forecast period.
Moreover, the flourishing electronics industry in this region, coupled with the increased production of consumer devices, is accelerating the demand for semiconductor lasers as they are being used for several manufacturing processes.
Competitive Landscape
The Semiconductor Laser Market is fragmented due to the market consisting of many prominent players and new players, and the market is very competitive. Coherent Inc., Nichia Corporation, Sharp Corporation, II-VI Incorporated, TT Electronics, Sumitomo Electric Industries, Ltd, IPG Photonics Corporation, Newport Corporation, Rohm Company Limited, Panasonic Semiconductor Solutions Co. Ltd, Trumpf GmbH + Co. KG, Hamamatsu Photonics KK, among others.
April 2022 - Panasonic introduced the world’s first high brightness Blue Direct Diode Laser. Panasonic’s Wavelength Beam Combining (WBC) technology produces blue direct diode lasers with high power.
March 2022 - II?VI Incorporated introduced its advanced L60 laser tool for precision shaping of complex profiles in superhard materials, including synthetic diamond, polycrystalline diamond compact (PDC), polycrystalline diamond (PCD), and reaction-bonded ceramics, allowing the company to capitalize on emerging industrial applications.
March 2022 - Hamamatsu Photonics developed the world’s first Quantum Cascade Laser (QCL) module with a tunable frequency range from 0.42 to 2 THz. This has been achieved by analyzing the principle governing the generation of terahertz waves.
Additional Benefits:
The market estimate (ME) sheet in Excel format
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