According to a study, the penetration rate of 3D sensing in smartphones will grow from 2.1% in 2017 to 13.1% in 2018, while Apple remains the major adopter.

- The increase in demand for semiconductor laser applications, preference for semiconductor lasers over other sources of light, and the expansion of the fiber laser market are the primary factors driving the growth of the semiconductor laser market.

- Moreover, the rise in the use of semiconductor laser in defense due to its long lifespan, lightweight, and high efficiency is anticipated to increase the demand for semiconductor lasers. The rise in the need for semiconductor lasers in medical applications is expected to boost this market over the forecast period.

- The integration of organic light-emitting diode (OLED) technology in smartphones is a boost for the global semiconductor laser technology market. According to Newzoo, there were over a billion phones with OLED screens on the market in 2018 up from 720 million in 2016 having a growth of 41% from the year 2016.

- Growing usage of 3D printing in the healthcare platforms is expected to increase the demand for semiconductor lasers. The recent administrative regulations pertaining to 3D printing in the healthcare vertical in countries such as the United States are further expected to boost industry growth.

- Moreover, the increase in demand for consumer devices is accelerating the demand for semiconductor lasers as they are being used for several manufacturing processes. Furthermore, the semiconductor laser technology has other applications such as data communication, computer mice, and LIDAR system for automobiles.

- However, high initial investment and difficulties regarding less reliability and testing are restricting the growth of semiconductor laser market.

Key Market Trends

Rise in Demand for Semiconductor Laser Applications Fueling the Growth

- There is a rapid increase in the use of semiconductor lasers for different applications. The semiconductor laser is vital in the healthcare sector due to their extensive use for cosmetic procedures, medical diagnosis, and therapies.

- Moreover, they are ideal for military and defense applications due to their compact size, lightweight, and ruggedness. In the defense sector, the new high brightness semiconductor laser technology is permitting diode lasers to be used directly in applications where DPSS lasers were the only solution. i.e., target designation, countermeasures, and potentially even high energy lasers.

- Semiconductor diode lasers are offering advantages over other light sources for applications in dentistry, dermatology and other applications.

- In addition, the launch of 3D printers has further increased the demand in this market as this technology is widely used in healthcare to produce fabricated prosthetic limbs and various other life-sciences applications.

- With the increase in sales of smarpthone, technologies like OLED and VCEL in the smartphone segment are also propelling the growth of semiconductor laser market. Also, the growth in the semiconductor industry may fuel the growth of the market.

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Asia-Pacific is Expected to Witness Fastest Growth Rate

- Asia-Pacific has the largest market share and is also anticipated to register the highest growth rate over the forecast period, due to the high manufacturing and industrialization in the region.

- Also, government initiatives and investments in Asia-Pacific are promoting the growth of numerous sectors. The exponential growth in the communication industry in countries, such as Japan, China, South Korea, and India, is anticipated to drive the laser market in the region, during the forecast period.

- Factors, such as the growth of semiconductor industry, cheap labor, and low manufacturing costs are expected to increase the demand for material processing and the lithography which, in turn, may aid the demand for semiconductor lasers in the region.

- Moreover, countries like China, Taiwan, Korea, Japan are the house of smartphone manufacturers such as Apple, Oneplus, Vivo. Samsung, among others which makes semiconductor manufacturer around these regions to produce semiconductor laser to cater to smartphone manufacturers.

Competitive Landscape

The semiconductor laser market is fragmented due to the market consisting of many large players as well as new players and the market is very competitive. Some of the major players are Coherent Inc., Sharp Corporation, Nichia Corporation, Finisar Corporation, IPG Photonics Corporation, Han's Laser Technology Ind Group Co. Ltd, Sumitomo Electric Industries Ltd, Axcel Photonics Inc., Newport Corporation, Panasonic Semiconductor Solutions Co. Ltd, Hamamatsu Photonics KK, Trumpf GmbH + Co. KG, among others.

- September 2019 - II‐VI Incorporated and Finisar Corporation has jointly said that IIVI has obtained antitrust clearance from the State Administration for Market Regulation of the People’s Republic of China (“SAMR”) for II-VI’s acquisition of Finisar. II-VI has agreed with SAMR that it will operate separately, for a period expected to be three years, the wavelength selective switch business of Finisar. The clearance decision from SAMR satisfies the closing condition set forth in the previously announced Agreement and Plan of Merger regarding the receipt of antitrust approvals.

- September 2019 - Sumitomo Electric Industries, Ltd. licenses AirM a non-contact multi-fiber optical ferrule technology to Senko Advanced Components and jointly introduces it to the market. Through this initiative, Sumitomo Electric aims to spread the new multi-fiber optical connectivity technology to the market to solve various problems of existing MPO connectors.

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