
The global laser diode market was valued at USD 4.60 billion in 2013, growing at a CAGR of 12.6% from 2014 to 2020. A laser diode is an electrically-pumped system wherein the active medium is formed by the p-n junction of a semiconductor diode, similar to that found in a LED. Laser diodes are rapidly becoming an indispensible part of modern technology and are being used in applications such as CD players, communications, laser printers, industrial processing machineries, laser pointers, and research & development. Laser diodes offer several advantageous features over the conventional laser systems such as ruby, helium-neon, and gas types. Laser diodes are smaller in size and weight, have low voltage, current and power requirements, and have high electrical efficiency and low maintenance, and a wide-angle beam.