Laser diode market growing at 12.6 percent CAGR
Global market expected to be worth $10.26 billion by 2020
Transparency Market Research's (TMR) latest findings on the global laser diode market suggest that it will grow at a CAGR of 12.6 percent from 2014 to 2020. The market was valued at $4.6 billion in 2013 and is expected to be worth $10.26 billion by 2020, according to TMR.
The automotive segment accounted for 25.35 percent of the global laser diode market in terms of revenue in 2013. The same year saw market domination by feedback laser diode technology with 23.20 percent of the market share, while infrared laser diode technology held the wavelength segments by 26.20 percent.
AlGaInP based laser diodes led the market in 2013 due to their increasing preference in optical discs, DVD players, laser pointers, and data communication devices. The report expects this segment to keep growing throughout the forecast period.
The report "˜Laser Diode Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 "“ 2020' divides the global laser diode market according to its applications in consumer electronics, industries, automotives, medical, defense, healthcare, and others. Of these, the automotive segment dominated the market in 2013 because of its heavy use in engraving, lighting, molding and marking of automobile plastic in manufacturing plants.
TMR is a US-based market intelligence company.
