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The semiconductor laser market share is expected to increase by USD 1.84 billion from 2019 to 2024, and the market’s growth momentum will accelerate at a CAGR of 5%.
This semiconductor laser market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers semiconductor laser market segmentations by application (communication, industrial, military and defense, medical, and others) and geography (APAC, Europe, North America, South America, and MEA). The semiconductor laser market report also offers information on several market vendors, including ASML Holding NV, Coherent Inc., Hans Laser Technology Industry Group Co. Ltd., IPG Photonics Corp., OSRAM Licht AG, Panasonic Corp., ROHM Co. Ltd., Sharp Corp., Sumitomo Electric Industries Ltd., and and TRUMPF GmbH + Co. KG. among others.
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Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The growth in demand for consumer devices is notably driving the semiconductor laser market growth, although factors such as may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the semiconductor laser industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Semiconductor Laser Market Driver
Growth in demand for consumer devices is a key driving factor impacting the global semiconductor laser market growth. The increase in demand for consumer devices is accelerating the demand for semiconductor lasers as they are being used for several manufacturing processes. An increase in the production of these vehicles will also boost the demand for semiconductor lasers and drive the growth of the global semiconductor laser market. Semiconductor diode lasers are being increasingly incorporated in surgical procedures across areas such as dermatology, ophthalmology, dentistry, gynecology, cardiovascular studies, and urology. The use of diode-based laser technology enables smooth and minimally-invasive surgical procedures, minimal swelling, less scarring, and nominal surgery pain. Considering the growth of machines for these procedures in the healthcare industry, the demand for semiconductor laser market will also increase during the forecast period.
Key Semiconductor Laser Market Trend
Advent of 3D printing using lasers will be a key trend impacting the global semiconductor laser market growth.In recent years, 3D printing or additive manufacturing has emerged as a popular energy-saving and environment-friendly technology that delivers high efficiency with minimal consumption of materials. These advantages are attributable to the techniques that allow successive material deposition at specified target areas by delivering energy on them.Additionally, the introduction of 3D printers has created a new market for architecture and healthcare sectors by enabling high-end 3D models for manufacturing prosthetic limbs and various other life science applications. Increasing demand for organ transplants and the low availability of donated organs is among the factors responsible for the growth of the 3D printing market and the accelerating demand for semiconductor lasers.
Key Semiconductor Laser Market Challenge
Uncertain lifespan of laser diodes Several factors impact the lifespan of semiconductor lasers or laser diodes. It has been found that apart from sudden failure, laser diodes degrade over a period due to the following reasons: Forward current does not involve light generation and changes the characteristics of the light being emitted, hence forcing laser diodes to use more current for the same level of emission. Operating temperature of laser diodes increases over a period, which significantly contributes to their degradation. Therefore, the short lifespan of semiconductor lasers limits its application and poses a major challenge for the manufacturers. An increase in acceptance of fiber lasers in material processing applications, especially because of their compact design and their ability to produce high power, is impeding the growth of the global semiconductor laser market.
This semiconductor laser market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.
Technavio categorizes the global semiconductor laser market is a part of the global semiconductors market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the semiconductor laser market during the forecast period.
The report analyzes the global semiconductors market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the semiconductor laser market encompasses successful business strategies deployed by the key vendors. The semiconductor laser market is fragmented and the vendors are deploying growth strategies such as reliability, quality, and price to compete in the market.
OSRAM Licht AG - The company offers a wide range of visible and infrared laser diodes with varying wavelengths and power settings.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The semiconductor laser market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the semiconductor laser market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global semiconductors market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Application
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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