The Green Laser Diode Market is estimated to reach $296.7 Million by 2024 growing at an estimated rate of CAGR 19.2% during 2018 to 2024, majorly driven by the increased usage of laser equipped devices across various industry verticals and advancement of technologies in developed economies.
What are Green Laser Diodes?
Laser diodes are the semiconductor devices that produce coherent radiation in IR or visible spectrum on passage of current. Laser diodes are close to the LEDs both in form and operation. A laser diode can simply be seen as an LED that emits focused light. Green lasers are of particular importance, because the green wavelength is perceived to be the brightest by the human eye. The green color peaks at about 532nm for the eye. The green laser diodes are different from the other laser diodes by virtue of the fact that they can operate in wider range of temperatures when compared to the other diodes. It is this stability of the green laser diodes which make them an ideal solution for the point and line lasers which are widely used in image processing applications. The Green Laser Diode Market is segmented into 6 types based on the doping material used and of all GaAlAs based green laser diodes are expected to have the fastest growth during the forecast period. This is due to the ability of the doping material to provide excellent electrical and optical confinement, electrical and thermal conductivities which are most desired in lighting applications.
What are the major applications of Green Laser Diodes?
Green laser diodes find applications in head-mounted displays, head-up displays, smartphones and Pico-projectors. The ability of these diodes to operate in high temperature ranges without the need for the cooling has enabled the usage of these diodes in harsh environments, across various industrial verticals. Green laser diodes, today, find applications in a variety of sectors like medical, military, instrumentation and semiconductors. The Green Laser Diode Market is expected to grow the fastest in the medical sector. This is due to the advantages the green laser diodes offer over others in terms of efficiency, tight dimensional tolerances and superior edge quality.
Market Research and Market Trends of Green Laser Diode
- There is growing support from the governments in emerging economies like South Korea whose Ministry of Food and Drug safety has authorized the marketing of laser and an association was formed by the name ‘Korea Association for Photonics Industry Development’ to strengthen the ties among the industries that are related to the photonics through research and development of the technology. Prospects like these can contribute to the growth of the Green Laser Diode Market.
- Aiming to drive the technological change in automotive lighting systems, Osram and Continental AG signed a joint venture on April 3rd, 2018 in which each of the partners have 50% stake. The product portfolio features laser modules, LED modules and light control units.
- Direct green laser diodes, introduced by Osram, are replacing the more complex DPSS lasers in biomechanical diagnostics applications like DNA and cell analysis tools owing to their good far-field pattern and tight wave length tolerance. This shift is huge prospect for the green laser diodes in the field of medical applications.
- Near infrared fluorescence imaging system is an emerging clinical technology which helps in the observation of blood flow and lymph flow under a target tissue. Green laser diode acts as an incident light source in this technology. Technological advancements as such can boost the market of green laser diodes.
Who are the Major Players in Green Laser Diode Market?
The companies referred to in the market research report include Osram, Nichia, Thorlabs, Egismos, Yisnic and 5 others.
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