The global semiconductor lasers market exhibit a consolidated market structure and have few players operating in the global market. As per the report leading players in the market are observed investing in mergers and acquisitions. Players are also involved in partnership, collaborations, and innovation with an objective to expand their business in different geographies. Using these strategies will also the players to strengthen their position in the market. To name a few players mentioned in the report are Sharp Corporation, Sumitomo Electric Industries Ltd., Rofin-Sinar Technologies Inc., IPG Photonics Corp., Axcel Photonics Inc., Newport Corp., Coherent Inc., and ASML Holding NV
According to a recent report published by Transparency Market Research, the global semiconductor lasers market is anticipated reach a valuation of US$7.7 bn by the end of 2020. Over the forecast tenure from 2014 to 2020, the global transportation management systems market is likely to progress at 7.10% CAGR.
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The application of semiconductor lasers is high in communications segment and this segment hold maximum share in the global market. However, the demand for semiconductor lasers is also high in printing due to increasing demand for commercial printings in offices. On regional front, Asia Pacific is projected to lead the global semiconductor lasers market. This growth is attributed to increasing demand for computers, digital displays, and communication devices. Rapid growth in industrialization and industrial automation in Asia Pacific is expected to further drive this market.
3D Printing Technology to Drive Demand for Semiconductor Lasers in Healthcare Sector
Key factors responsible for the growth in the global semiconductor lasers market are its increasing application in various industries and increasing demand for it as compared to other sources of light. The application of semiconductor lasers is seen in defense, printing, healthcare, sensors, and other similar industries. In addition, launch of 3D printers has further increased the demand in this market as this technology is widely used in healthcare to produce fabricated prosthetic limbs and various other life-sciences applications.
Adding to it further, high effectiveness, low cost, and simple design of semiconductor lasers has grown its demand across the globe. Moreover, the semiconductor laser technology has other applications including computer mice, data communication, and LIDAR system for automobiles that might push the market growth in the coming years.
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Rapid Development in Fiber Lasers to Restrain Market Growth
On the other hand, rising demand and development in fiber lasers, delicate design, and low packaging tolerance error might restrain the growth in this market. Moreover, problems faced during testing such as complexity and reliability issues to deter growth in the semiconductor lasers market. However, changing preference towards data storage devices where semiconductor lasers are used widely has opened new opportunity for the players operating in this market.