Semiconductor Lasers Market Sees Rapid Growth Driven by Telecommunications and Automotive Sectors
Allied Market Research, titled, Global Semiconductor Lasers Market by Type and End User Application: Opportunity Analysis and Industry Forecast, 2014-2022, the semiconductor lasers market is expected to reach $8.9 billion by 2022 from $5.5 billion in 2015, growing at a CAGR of 6.9% during the forecast period. In 2015, Asia-Pacific dominated the overall market with over 38% share and is anticipated to continue this trend during the forecast period. Semiconductor laser is a type of solid-state laser light producing device that differs from conventional lasers on the basis of mechanism used for light amplification. In a semiconductor laser, the active semiconductor components are used for amplifying the light which enables it to have compact size. In addition, it requires less power and is more efficient as compared to conventional laser. The rise in demand of semiconductor lasers in defense sector, increased usage in medical sector, dedicated assembly, and low tolerance f...