ALBANY, N.Y.--(BUSINESS WIRE)--Transparency Market Research has released a research document “Laser Diode Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020”.
The report describes the global laser diode market, showing that it will grow at a CAGR of 12.6% from 2014 to 2020. The market was valued at US$4.6 billion in 2013 and is expected to be worth US$10.26 billion by 2020. The automotive segment accounted for 25.35% 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% of the market share, and the infrared laser diode technology held the wavelength segments by 26.20%.
The report provides a segmented view of the global laser diode market according to geography, doping materials, applications, technology, and properties. The strong set of advantages that laser diodes offer over conventional technologies is one of the biggest driving factors for the global laser diode market.
Among the segments of doping materials, 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.
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The report 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.
Laser diodes offer various advantages such as increased production speed, reduced part costs, increased flexibility, and improved reliability.
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