Semiconductor lasers are driving innovation
The semiconductor laser market is projected to grow from $3.1 billion in 2023 to more than $5 billion in 2029, according to the Yole Group's first semiconductor laser-focused report, 'Semiconductor Laser Industry 2024'.
Yole says this growth will continue to be driven by several factors.
Trends such as the expansion of applications using lasers, the shift toward energy efficiency, compact size and precision, and the growth in integration with multiple technology platforms including SOI , SiN, InP and TFLN are shaping the future of the semiconductor laser market.
At the same time, geopolitical factors and supply chain challenges are prompting manufacturers to adopt more resilient production strategies. Overall, the semiconductor laser industry is positioned for significant growth, driven by innovations in both established and emerging markets.
Photonics has taken its place alongside electronics as a critical enabling technology for the twenty-first century. Photonics-based solutions are entrenched in a broad array of industries, including microelectronics, flat-panel displays, machine tools, automotive, and medical diagnostics, with adoption continuing in ever more diverse applications.
Martin Vallo, senior technology and market analyst, photonics at Yole Group said: "In this dynamic context, the laser market has grown significantly during the last 40 years. At Yole Group, we announce a few millions to few billion dollars! Without doubt, laser technologies represent huge potential. That is why, at Yole Group, we investigate this domain by analysing the innovative solutions and the applications."
Behind the biggest segment in 2023 and 2029, telecom and infrastructure, the consumer applications represent a significant $1.75 billion market in 2029. But the CAGR related, 1 percent, is less impressive than the ones dedicated to the automotive sector for example.
Ali Jaffal, senior analyst, compound semiconductors said: "In the consumer segment, the moderate market growth is due to the volume drop in optical sensing applications in the 2022-2024 period due to technology replacement. In the opposite, semiconductor lasers in automotive are anticipated to see significant expansion, with a double digit CAGR during the same period, mainly driving by automotive LiDAR, especially in China."
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