The global laser diode market size is expected to reach USD 15.6 billion by 2030, according to a new study by Polaris Market Research. The report “Laser Diode Market Share, Size, Trends, Industry Analysis Report, By Wavelength; By Doping Material; By Technology; By Application; By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa); Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides an analysis of future market growth.
The growing demand for the laser diode across various applications is due to its ease of handling, high-efficiency light, reliability, and long durability. Furthermore, these laser diodes focus on small areas currently utilized in security systems, barcodes, and radar systems, increasing the sale of the product.
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In addition, the increasing demand for the product across the aerospace & defense sector is due to its operation with minimal power usage, and deployment in naval ships, aircraft, and vehicle requires minimal cost. Furthermore, when integrated with the aerospace industry, laser diode improves power level, brightness, and reliability, which are helpful for target selection, and range findings during combat, which is expected to bolster the market growth.
The COVID-19 pandemic had a negative impact on the demand for the laser diode. Negligible operation across various manufacturing units resulted in delays in the production of components. Moreover, many industries were standstill, resulting in less consumer expenditure towards the electronics market, ultimately hampering the market growth.
Laser Diode Market Report Highlights
Polaris Market Research has segmented the laser diode market report based on wavelength, doping material, technology, application, and region:
Laser Diode, Wavelength Outlook (Revenue - USD Billion, 2018 - 2030)
Laser Diode, Doping Material Outlook (Revenue - USD Billion, 2018 - 2030)
Laser Diode, Technology Outlook (Revenue - USD Billion, 2018 - 2030)
Laser Diode, Application Outlook (Revenue - USD Billion, 2018 - 2030)
Laser Diode, Regional Outlook (Revenue - USD Billion, 2018 - 2030)