The global market for semiconductor laser is growing at a healthy pace and is expected to register a healthy growth rate in the next few years. The rising number of applications and the rising number of benefits of semiconductor lasers over several types of light sources are considered as the major factors that are likely to augment the development of the market in the near future. In addition to this, the semiconductor laser technology has been gaining a lot of importance in several endues markets, which is predicted to support the market growth in the near future.
Furthermore, the rising focus on innovations and research and development activities are expected to enhance the growth of the market in the near future.
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In the last few years, Asia Pacific accounted for a large share of the global semiconductor lasers market and is estimated to remain in the leading position in the next few years. The rapid growth of the industrial automation and the rising demand for computer, display and communication devices are projected to enhance the growth of the market in the near future. Moreover, the high rate of industrialization is another major factor that is likely to offer potential growth opportunities for the market players in the coming few years.
The global market for semiconductor lasers is considered as highly competitive in nature and is expected to witness a potential rise in the level of competition in the next few years. The key players are emphasizing on the research and development activities and the expansion of the product portfolio, which is expected to support the growth of the market in the near future.
Some of the key players operating in the semiconductor lasers market across the globe are Rofin-Sinar Technologies Inc, ASML Holding NV, Trumpf GmbH + Co KG, Axcel Photonics Inc, IPG Photonics Corp, and Newport Corp.