Laser Diode Market to 2025 - Global Analysis and Forecasts by Doping Material, Wavelength and Applications
Environmental advantages and safe-to-use characteristics propel Laser Diodes to take up the technology world in many industry verticals like the automotive, electronics and semiconductors in the coming few years. The benefits offered by laser diodes expand their applications in many industrial use cases. Moreover, better efficiency and easy assistance make it more attractive and superior in the market. The global laser diode market is expected to account for US$ 17.70 Bn in 2025. The CAGR recorded for this market during the forecast period of 2015-2025 is of 11.2%.
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There is a significant increase in demand for laser diodes due to the growing number of applications in the APAC region, especially in highly populated countries such as India, China, Japan, and South Korea. The automotive lighting market is witnessing rapid growth in this region due to low manufacturing cost, favorable government policies, and rising production levels. China holds the largest share in the APAC automotive lighting market. The automotive lighting market in the APAC region is projected to rise at a CAGR of 11.9% during the forecast period from 2015 to 2025.
The report is segmented by doping material, wavelength applications and diode types. Doping materials is further segmented into AlGaInP, GaAlAs, GaN, InGaN and others such GaAs and GaInAsSb.