Laser Diode Market Growing at 12.6% CAGR

U.S.-based market analysis and intelligence firm Transparency Market Research (TMR) has announced the release of a new research report. The global laser diode market, worth US$4.6 billion in 2013 according to TMR, is the subject of the new report from the leading market research company. The report compiles and collates information about the global laser diode market from primary and secondary sources.The report, titled Laser Diode Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020.According to the report, the global laser diode market is growing at a strong 12.6% CAGR from 2014 to 2020 and is thus expected to scale US$10.26 by 2020. The report elaborates on the advantages offered by laser diodes in comparison to other material processing technologies as the major growth driver for the global market for laser diodes. Compared to traditional material processing technologies, laser diode technology is much more precise and efficient, which has led to growing demand for the same.

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The report segments the laser diode market by doping material, property, application, technology, and geography in order to provide a granular understanding of the market. Historical and projected data regarding each segment is given in the report.By doping material, laser diodes based on AlGaInP dominated the global laser diode market in 2013, holding a share of close to 30% in the market in 2013. This was due to their growing usage in popular applications such as optical disks and laser pointers. Accordingly, consumer electronics remain one of the leading application sectors of laser diodes.However, it is the automotive industry that dominated demand from the global laser diode market in 2013. Usage of laser diodes in engraving and marking automotive plastic is the major generator of demand for laser diodes in the automotive industry. The automotive industry accounted for more than one fourth of the total demand of laser diodes worldwide in 2013.