The global semiconductor laser market experienced modest growth in 2021, reaching a value of over US$7 billion, according to industry figures. A recent preliminary study conducted by Fairfield Market Research indicates that the semiconductor laser industry will continue to grow at a promising pace in the forecasted years.
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The proliferation of smart connected devices has been a key driver behind the increasing demand for semiconductor lasers. The rising investments by electronic device manufacturers in smart connected devices have further fueled the growth of the market. For instance, Samsung Electronics Ltd. initiated an investment of around US$200 million to set up a new manufacturing plant in India in March 2022, highlighting the significance of this trend.
The semiconductor laser market has also witnessed increasing development and use across high-end applications. Laser diodes have been widely adopted in the manufacturing of optical communication devices, telecommunication devices, and satellite components. The adoption of laser technologies, including laser diodes, has been driven by factors such as low power consumption, cost-effectiveness, and their ability to speed up the manufacturing of optical devices.
However, the COVID-19 pandemic had a negative impact on the semiconductor laser market due to restrictions on manufacturing activities in various industries. The decline in demand in sectors like automotive, electronics, and consumer goods affected the sales of laser solutions used in these industries. Nevertheless, post-2020, the market has shown a steady upward trend, particularly in data center applications. Growing investments by technology companies to re-establish data centers have paved the way for the utilization of laser diodes in the manufacturing of optical communication products.
The semiconductor laser market faces challenges related to high initial investments and technical limitations. Manufacturing semiconductor lasers requires significant investment and advanced technological expertise. Additionally, the market’s competitiveness can result in pricing pressures and lower profit margins. Moreover, the physical properties of semiconductor lasers, such as power output and wavelength, present limitations that hinder their further progression.
The Asia Pacific region is expected to account for the majority revenue share in the semiconductor laser market, driven by the growing manufacturing sector and rapid industrialization in countries such as China, India, and Japan. Favorable government initiatives, such as China’s ‘Made in China 2025’ and India’s projected significant growth in the manufacturing sector, are further supporting the market’s growth in the region.
Key players in the semiconductor laser market include OSRAM Licht AG, Mitsubishi Electric, Sharp Corporation, Hans Laser Technology Industry Group Co. Ltd., ASML Holding NV, IPG Photonics Corporation, Coherent Inc., Newport Corporation, Panasonic Corporation, and Nichia Corporation. These companies are focusing on new product launches, partnerships, collaborations, acquisitions, and alliances to gain a competitive edge.
Recent developments in the semiconductor laser market include the introduction of red color laser diodes by Ushio, the acquisition of Atotech Limited by MKS Instruments, the launch of the Femto-blade laser system by Lumentum Inc., and the introduction of the I-Temp micro pump semiconductor laser by Coherent Corporation.
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