Global Laser Diode Market to Grow 11% by 2020
July 11, 2016 | Business WireEstimated reading time: 1 minute
Research and Markets has announced the addition of the "Global Laser Diode Market 2016-2020"report to their offering.
The report forecasts the global laser diode market to grow at a CAGR of 11.07% during the period 2016-2020. The global laser diode market has been broadly divided into six application segments:
- Industrial
- Communication and optical storage
- Military
- Medical
- Instrumentation and sensor
- Others
A trend that is bringing about change in the market and boosting growth is the number of M&A deals between vendors. The laser diode market is experiencing a rise in the number of M&A deals between the vendors. These collaborations help vendors expand their product portfolio as well as improve their respective market shares. The companies involved attain economies of scale and produce better technological systems.
According to the report, a key driver which is helping to boost market growth is the rising demand for laser diodes in material processing. The manufacturing of products in industries such as automotive, heavy engineering, general manufacturing, aerospace, and consumer electronics requires material processing. Material processing applications involve metal welding, metal hardening, laser brazing, cladding or repair welding, and cutting of metals for the machine tooling, automobile, and medical sectors. Laser diodes are versatile and can easily be adopted due to their modular design, which enables simple field replacement of components in case of failure of the machine.
Further, the report states that one challenge that could curtail market growth is intense competition from different types of lasers.
Suggested Items
Cicor Records Solid Growth in Q1
04/16/2024 | CicorThe Cicor Group continued to grow in the first three months of the year. Quarterly sales increased by 11.8% to CHF 107.3 million compared to the first quarter of the previous year (Q1/2023: CHF 96.0 million).
TT Electronics Awarded Contract with Kongsberg Defence and Aerospace
04/11/2024 | TT ElectronicsTT Electronics, a leading provider of global manufacturing solutions and engineered technologies, announced today that its Fairford UK business has been awarded a new contract with long-standing customer Kongsberg Defence and Aerospace (Kongsberg) for the production of complex cable harness solutions.
Cicor Successfully Completes Acquisition of TT Electronics IoT Solutions Ltd.
04/03/2024 | CicorThe Cicor Group has successfully completed the acquisition of TT Electronics IoT Solutions Ltd. with three production sites in the UK and China.
Absolute EMS Successfully Recertifies ISO 9001:2015 and AS9100 Standards
03/26/2024 | Absolute EMS, Inc.Absolute EMS, Inc., an award-winning EMS provider of turnkey contract manufacturing services, is proud to announce the successful recertification of its ISO 9001:2015 and AS9100 Rev D SAE International Aerospace Standards.
Arlon EMC Receives IPC-4101 QPL Recertification
03/20/2024 | Arlon Electronic MaterialsArlon Electronic Materials has successfully completed an intensive two-day recertification audit by IPC Validation Services that examined Arlon’s manufacturing processes and testing procedures to assure that they are in conformance to the requirements of IPC-4101E-WAM1, the Specification for Base Materials for Rigid and Multilayer Printed Boards.