A recently released report from Transparency Market Research (TMR) forecasts that the global semiconductor lasers market will grow at a CAGR of 7.10% from 2014 to 2020. TMR, a market intelligence firm, the global semiconductor lasers market which in 2013 stood at US$4.8 bn is anticipated to reach US$7.7 bn by the end of the forecast period. The report, titled ‘Semiconductor Lasers Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020’, is available for sale on the company website.
According to this market research report, the global semiconductor lasers market is driven by the rapidly expanding end-use markets and the benefits of semiconductor lasers over different types of light sources. The semiconductor laser technology is gaining a lot of importance in most end-use markets and is expected to increase over the next couple of years as well. Semiconductor lasers amplify light by making use of active semiconductor components. Semiconductor lasers are gradually becoming an integral part of modern systems that are essentially laser based, and they are successfully replacing the conventional types of lasers that are used extensively in a host of applications.
This TMR report segments the global semiconductor lasers market on the basis of type, applications, and geography. On the basis of type of semiconductor lasers, this market is segmented into fiber optic lasers, vertical cavity surface emitting laser (VCSEL), compact disc lasers, high power diode lasers (HPDL), red lasers, violet diode lasers, green lasers, and blue laser diode. Fiber optic lasers are the most extensively used types of semiconductor lasers, mostly in the area of communication technology.
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Application-wise, the global semiconductor lasers market is categorized into optical storage, lithography, healthcare, defense and R&D, sensors, display, printing, communication, and industrial. The communications application segment holds the highest share of the global semiconductor lasers market. The segment for printing applications is projected to witness a robust growth in the near future because of its widening applicability in commercial printings and in offices. The demand for semiconductor lasers from areas such as the healthcare industry, industrial machinery, display manufacturing, and sensors manufacturing is expected to surge significantly during the forecast period.