An upward trend in autonomous vehicles has amplified the manufacture of radar and LiDAR systems of such vehicles at scale. LiDAR systems eliminate the need for human intervention in driving by simply sensing the surrounding environment. Laser pulses from the LiDAR systems provide a detailed measurement of distance and create a 360-degree map which helps in determining the obstacles through successive collisions and returns to the sensor. The presence of a photodetector, data processing electronics, and a motion control device in these systems ensure smooth and accurate propulsion of the vehicle. This, in turn, facilitates swift navigation, guidance, and control over autonomous vehicles enabling automated driving until it reaches its destination. Provided efficiency and cost-effectiveness of the laser diode have accelerated its incorporation in such systems. Thus, the steepened demand and production curve of autonomous vehicles is paving pathways for lucrative opportunities for the growth of the global laser diode market.

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High-tech Innovations to Enhance Laser Diode Applications in Aerospace and Defence Industry, in Turn Boosting Laser Diode Market Revenue

Of late, laser diodes are actively being leveraged across the aerospace and defence industry. Its diversified application includes range finding, target selection, and illumination. The compact structure provides brightness enhancement in the high-peak-power cladding. Advanced quantum intermixing abilities, greater reliability, and modular design have further fuelled its adoption in the aerospace and defence sector. Breakthrough technological developments have unlocked revenue streams for manufacturers. Inferring these possibilities, manufacturers are likely to offer high-power laser diode products to be utilised in diverse applications in the aerospace industry. Anticipating these trends, the global laser diode market is set to witness promising growth throughout the projection period.

Rise in Minimally Invasive Cosmetic Procedures to Assist Laser Diode Market Expansion

The American Society of Plastic Surgeons (ASPS) states a significant rise in minimally invasive procedures over the past decades. Almost 18 million cosmetic surgery procedures were recorded in 2019. Out of these, 16.3 million procedures were minimally invasive due to better efficiency and precision in physician assistance. It prevents unnecessary damage to adjoining areas. In addition, laser diodes are extensively being used in the dermatology domain owing to lower cost of ownership, compact packaging, greater reliability, and wide output power and wavelength options. Its various applications include hair removal, skin tightening for wrinkles removal and fat reduction. That said, the accelerated demand for minimal or non-invasive procedures is assuring influential growth across the laser diode market.

Excessive Demand in Electronic Devices Carves a Positive Landscape for Laser Diode Market in Asia Pacific

The burgeoning manufacture of electronic devices in emerging economies of Asia Pacific is generating significant demand for laser diodes in the region. Growing digitisation and increased penetration of smartphones are unlocking new growth prospects for the market in the region. A steady rise in the automotive industry and technological advancements including autonomous variants is further propelling demand for the laser diode. Such a landscape is creating a favourable business environment for manufacturers, thus, extending the dynamics of the laser diode market in the region.

Prominent Market Players

Some of the most competitive players in the global laser diode market include Coherent Inc., Thorlabs Inc., BluGlass Limited, Power Technology Inc., Frankfurt Laser Company, Trumpf GmbH + Co. KG, Newport Corp, Sharp Corporation, Sumitomo Electric Industries Ltd., Infineon Technologies AG, Kyocera Corp, Rofin-Sinar Technologies Inc., and IPG Photonics Corp.

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