LONDON--(BUSINESS WIRE)--The global blue laser diode market size is expected to grow by USD 196.96 million during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
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Prominent OEMs in the market are focusing on the implementation of innovative technologies in laser projectors to achieve improved display qualities. Several vendors are offering laser projectors integrated with laser phosphor, that use blue laser diodes as a light source. Some are developing innovative technologies in which an independent digital micromirror device is used to produce high-quality and extremely accurate red, green, and blue laser beams. The advent of such innovative technologies is increasing the demand for high-quality displays. These factors are expected to drive the global blue-laser diode market growth during the forecast period.
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As per Technavio, the growing popularity of high-power blue laser diodes will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Blue Laser Diode Market: Growing Popularity of High-Power Blue Laser Diodes
High-power blue laser diodes generate less heat, which ensures high operational efficiency. They also have a high absorption capacity, which helps them cut through metals such as copper and gold. Many such advantages have increased the use of blue laser diodes in applications such as material processing equipment, 3D printers, and optical fiber. This is encouraging significant vendors in the market to introduce a series of high-power blue-laser diodes. Thus, the growing popularity of high-power blue laser diodes is expected to boost the growth of the market during the forecast period.
“Other factors such as the introduction of blue-laser diodes in additive manufacturing and the use of blue-laser diodes for free-space communication are other applications will have a significant impact on the growth of the blue laser diode market value during the forecast period,” says a senior analyst at Technavio.
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Blue Laser Diode Market: Segmentation Analysis
This market research report segments the blue laser diode market by type (single-mode and Multi-mode) and geography (North America, Europe, APAC, South America, and MEA).
The North American region led the blue laser diode market share in 2019, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to the increasing demand for laser projectors.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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