The global semiconductor laser market size was USD 9.32 Billion in 2022 and is expected to register a steady revenue CAGR of 2.5% over the forecast period, according to a latest report by Reports and Data. Technological advancements and rising utilization in the military and defense sector are major factors driving market revenue growth. Semiconductor lasers are widely considered an optical communication light source for data transmission and are mainly adopted where high-performance levels are needed.

In addition, various initiatives undertaken by government authorities and major companies are also significantly driving market revenue growth. For instance, on 18 March 2022, Canadian Government introduced a fund worth USD 150 million through Strategic Innovation Fund with the objective of making focused investments to support Canada's domestic semiconductor manufacturing and supply capabilities. The Canadian National Research Council's (NRCan) Canadian Photonics Fabrication Center (CPFC) also received financing from the government for amount of USD 90 million. In addition,  increasing preference for semiconductor lasers over other light sources and rising demand for data storage from various end-use sectors such as healthcare, communications, and industries are further expected to drive market revenue growth. Compared to properties of traditional laser systems, diode lasers offer better tunability, high-power output, and compact size at a comparatively low price. Therefore, semiconductor diode lasers are gaining popularity in critical applications such as photocoagulation, optical coherence tomography, diffuse optical imaging, fluorescence lifetime imaging, and terahertz imaging. However, difficulties regarding reliability and testing along with low power production are expected to limit market revenue growth.

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The benefits of using semiconductor lasers, including low-voltage direct modulation, durability, efficiency, compactness, and availability of various wavelengths, are highlighted. The passage also mentions the rising number of investors taking initiatives in the market, citing Vector Photonics Ltd. as an example of a company that received funding worth USD 2.4 million to commercialize its Photonic Crystal Surface Emitting Lasers (PCSELs) technology.

Top Companies Operating in the Global Semiconductor Laser Market:

Coherent, Inc., IPG Photonics Corporation, Panasonic Holdings Corporation, ASML, ams-OSRAM International GmbH, Rohm Co., Ltd., Tracxn Technologies Limited, Sumitomo Electric Industries, Ltd., nLIGHT, Inc., and Jenoptik, among others.

PCSELs are claimed to offer significant benefits in terms of cost, latency, power consumption, and physical connection size compared to traditional semiconductor lasers. Vector Photonics aims to target the datacoms sector, where the lasers can help lower energy usage in applications such as co-located optics and next-generation data centers. The passage also mentions the potential performance gains in future metal and plastic printing due to PCSEL technology. Overall, the passage suggests that the increasing demand for data storage devices and the growing interest of investors in the market are expected to drive revenue growth, and advancements in semiconductor laser technology, such as PCSELs, are likely to contribute to this growth.

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The global market is further segmented into type and application:

Drug Type (Revenue, USD Billion; 2019-2032)

• Vertical Cavity Surface Emitting Lasers (VCSEL)
• Fiber Optic Lasers (FOL)
• Red Lasers
• Violet Lasers
• Blue Lasers
• Green Lasers
• Fiber Optic Lasers (FOL)
• High Power Diode Lasers (HPDL)
• Compact Disc Lasers (CDL)

Application Outlook (Revenue, USD Billion; 2019-2032)

• Industrial
• Communication
• Optical Storage
• Sensors
• Displays
• Military and Defense
• Lithography
• Printing
• Healthcare

 Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.

• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
• Latin America (Brazil, Rest of LATAM)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Some Key Highlights From the Report

·       The High Power Diode Lasers (HPDL) segment is expected to register a significantly fast revenue growth rate over the forecast period. This is due to increasing awareness about numerous advantages of applying HPDL in end-use sectors. For instance, HPDLs are rapidly adopted for heat processing over the past few years. Excellent characteristics of this kind of laser also enable it to take the place of traditional lasers in processing of materials. HPDL is also utilized for fiber laser pumping and seeding, materials processing, medical and security sensing, and other applications and are also used to pump gain medium in solid-state lasers. Furthermore, superior electrical to optical efficiency of these materials also rises demand in end-use industries and drives market revenue growth.

·       The communication segment is expected to account for largest revenue share over the forecast period This is due to increasing high-value funding and investments for Research & Development (R&D) projects in the field of integrated photonics. For instance, on 28 June, 2022, Intel, a top producer of ground-breaking and industry-changing technology announced to invest in its research and development facilities to take advantage of technologies such as photonics.

·       The North America market is expected to account for largest revenue share in over the forecast period. This is due to as increasing application of semiconductor laser diodes in developing healthcare sectors such as ophthalmology, dermatology, gynecology, dentistry, and cardiovascular among others in this region. In addition, demand for semiconductor lasers in this area is also rising as more cosmetic operations, including LASIK surgery, hair removal, wrinkle reduction, and body sculpting, become more popular. Along with increasing use of semiconductor lasers in various end-use industries including aerospace, defense, and industrial applications, high-value investments by government authorities to support R&D activities are driving market revenue growth.

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