Semiconductor laser market to exceed $7.69 billion by 2020
According to a new market report published by Transparency Market Research, the global semiconductor laser market is expected to cross a value of $7.69 billion by 2020, at a CAGR of 7.1 percent from 2014 to 2020. The market was valued at $4.8 billion in 2013.
'Semiconductor Lasers Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020' categorises semiconductor lasers into fibre optic laser, VCSELs, compact disc lasers, high power diode lasers, red lasers, violet lasers, green lasers and blue lasers.
Emerging technologies such as green, blue and violet lasers are expected to gain market share steadily with continuous development in output power and brightness, according to the report.
High power diode lasers are expected to observe the fastest growth in the semiconductor lasers market, growing at a CAGR of 8.6 percent over the forecast period.
Communication is the largest application segment for semiconductor lasers and accounted for 32.2 percent of revenue share in the global market.
Asia Pacific represents the largest as well as the fastest growing semiconductor lasers markets. In 2013, Asia Pacific accounted for 37.5 percent of revenue share in the global semiconductor laser market. Growing communication industry in major countries such as China, India, South Korea, Japan, and Australia amongst other is the primary growth factor for this market. Europe and North America are expected to observe steady growth throughout the forecast period with improving economic conditions in the major countries of these regions.