The global semiconductor lasers market exhibit
a consolidated market structure and have few players operating in the
global market. As per the report leading players in the market are
observed investing in mergers and acquisitions. Players are also
involved in partnership, collaborations, and innovation with an
objective to expand their business in different geographies. Using these
strategies will also the players to strengthen their position in the
market. To name a few players mentioned in the report are Sharp
Corporation, Sumitomo Electric Industries Ltd., Rofin-Sinar Technologies
Inc., IPG Photonics Corp., Axcel Photonics Inc., Newport Corp.,
Coherent Inc., and ASML Holding NV.
According to a recent report published
by Transparency Market Research, the global semiconductor lasers market
is anticipated reach a valuation of US$7.7 bn by the end of 2020. Over
the forecast tenure from 2014 to 2020, the global transportation
management systems market is likely to progress at 7.10% CAGR.
The application of semiconductor lasers
is high in communications segment and this segment hold maximum share in
the global market. However, the demand for semiconductor lasers is also
high in printing due to increasing demand for commercial printings in
offices. On regional front, Asia Pacific is projected to lead the
global semiconductor lasers market. This growth is attributed to
increasing demand for computers, digital displays, and communication
devices. Rapid growth in industrialization and industrial automation in
Asia Pacific is expected to further drive this market.
3D Printing Technology to Drive Demand for Semiconductor Lasers in Healthcare Sector
Key factors responsible for the growth
in the global semiconductor lasers market are its increasing application
in various industries and increasing demand for it as compared to other
sources of light. The application of semiconductor lasers is seen in
defense, printing, healthcare, sensors, and other similar industries. In
addition, launch of 3D printers has further increased the demand in
this market as this technology is widely used in healthcare to produce
fabricated prosthetic limbs and various other life-sciences
applications.
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Adding to it further, high
effectiveness, low cost, and simple design of semiconductor lasers has
grown its demand across the globe. Moreover, the semiconductor laser
technology has other applications including computer mice, data
communication, and LIDAR system for automobiles that might push the
market growth in the coming years.
Rapid Development in Fiber Lasers to Restrain Market Growth
On the other hand, rising demand and
development in fiber lasers, delicate design, and low packaging
tolerance error might restrain the growth in this market. Moreover,
problems faced during testing such as complexity and reliability issues
to deter growth in the semiconductor lasers market. However, changing
preference towards data storage devices where semiconductor lasers are
used widely has opened new opportunity for the players operating in this
market.
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