Between 2021 and 2026, the global laser diode market is predicted to grow at a CAGR of 11.2 percent, from USD 8.84 billion in 2020 to USD 16.25 billion in 2026. According to the laser-focus world, the market for laser materials-processing systems increased by 50% between 2016 and 2018. One of the major developments in 2019 is the increased use of Laser Diode Market technology in smartphone apps such as facial recognition. VCSELs are a type of laser diode that outperforms Fabry Perot laser diodes in terms of beam characteristics, thermal stability, and device scalability.
The market is being driven by the rising use of high-power laser diodes in autonomous car technology.
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