At 13.3% CAGR, North America Laser Diode Market is Projected to be Worth US$ 5,508.93 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the North America laser diode market was valued at US$ 2,031.78 million in 2022 and is expected to reach US$ 5,508.93 million by 2030, registering a CAGR of 13.3% from 2022 to 2030. Miniaturized electronics and rise in electronics industry are among the critical factors attributed to the North America laser diode market expansion.

The miniaturization of electronic components plays an important role in the electronic industry. It helps save space so that additional parts or technology can be integrated, and the overall size of consumer electronics, medical devices, and automobiles can be reduced. For example, the free-up component space can allow the incorporation of larger batteries without impacting the size of the electronic device, which contributes to manufacturers' and end users' interest in adopting miniaturization technology. The miniaturization of electronics leads to less power consumption due to its small size and enhanced efficiency. Due to the benefits of miniaturization technology, the demand for miniature components will increase. A laser diode is a suitable option to fit in miniature devices as it generates high output power compared to light-emitting diode (LED). Laser diodes offer advanced sensing ranges and high precision, leading to their adoption over LED in various industry verticals such as medical, telecommunications, industrial, and automation. Thus, the rise in miniaturized electronics and its compatibility with laser diodes is anticipated to fuel the market for laser diodes during the forecast period.

On the contrary, stringent government standards to use laser-based products hurdles the growth of North America laser diode market.

Based on doping material, the North America laser diode market is segmented into AlGaInP, GaAlAs, GaN, InGaN, and others. The AlGaInP segment held 30.3% market share in 2022, amassing US$ 615.98 million. It is projected to garner US$ 1,756.68 million by 2030 to expand at 14.0% CAGR during 2022-2030.

By wavelength, the North America laser diode market is categorized into infrared laser diode, red laser diode, blue laser diode, blue-violet laser diode, and others. The infrared laser diode segment held 32.9% share of North America laser diode market in 2022, amassing US$ 669.30 million. It is projected to garner US$ 1,968.27 million by 2030 to expand at 14.4% AGR during 2022-2030.

In terms of application, the North America laser diode market is categorized into telecommunication, consumer electronics, healthcare & life sciences, automotive, military & defense, and others. The telecommunication segment held 26.7% share of North America laser diode market in 2022, amassing US$ 543.36 million. It is projected to garner US$ 1,664.07 million by 2030 to expand at 15.0% CAGR during 2022-2030.

Based on country, the North America laser diode market is segmented into the US, Canada, and Mexico. Our regional analysis states that the US captured 83.7 % share of North America laser diode market in 2022. It was assessed at US$ 1,701.00 million in 2022 and is likely to hit US$ 4,756.00 million by 2030, exhibiting a CAGR of 13.7% % during 2022-2030 .

Key players operating in the North America laser diode market are ams -ORSAM AG, Coherent Corp, IPG Photonics Corp, Jeptonik AG, Mitsubishi Electric Corp, Nuvoton Technology Corporation, Sharp Corp, Sheumann Laser Inc, Sumitomo Electric Industries Ltd, and TRUMPH SE + CO KG, among others.

• In Jun 2023, Coherent Corp announced the introduction of its next-generation pump laser diode, with 65 W of output power for fiber lasers in industrial and consumer applications.
  
  
• In Sep 2020, Topigs Norsvin entered strategic partnership with Acuity swine genetics company.
  
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