# Laser Diode Market

> Laser diode market: USD 11.17 billion in 2025, USD 27.60 billion by 2035 at 9.47% a year, led by AI data-center transceiver lasers and LiDAR emitters.

Publisher: Douglas Insights  
Author: Douglas Insights Research Desk  
Report code: DI-IT-10612  
Published: 2026-10-07  
Last updated: 2026-10-07  
Next review: Apr 2027  
Page: https://www.douglasinsights.com/laser-diode-market/

## Key figures

| Measure | Value | How it is built |
| --- | --- | --- |
| Market size · 2025 | $11.17 Bn | 2.42 billion laser diodes x USD 4.62 = USD 11.17 billion |
| Forecast · 2035 | $27.60 Bn | Base case, 4.69 billion units at USD 5.89 |
| Revenue CAGR · 2026-2035 | 9.47% | Multiplicative legs |
| Volume · 2035 | 4.69 billion units | Units grow 6.85% a year |
| Leading segment | Optical communications, 38.6% | USD 4.31 billion in 2025 |
| Fastest segment | Automotive LiDAR, 16.5% | 905 nm pulsed emitters enter series programmes |
| Fastest region | Asia Pacific, 10.5% | Transceiver and phone assembly base |
| Market leader | Coherent, est. 14.8% | Douglas Insights estimate; top three hold 34.6% |
| Event | Lumentum FY2025 results, 12 Aug 2025 | Cloud and Networking USD 1.41 billion of USD 1.65 billion |

## Key takeaways

- Douglas Insights sizes laser diodes at USD 11.17 billion in 2025 and USD 27.60 billion by 2035, a 9.47% revenue CAGR.
- Optical communications holds 38.6% of 2025 revenue, USD 4.31 billion.
- Automotive LiDAR grows fastest at 16.5% a year to USD 2.98 billion.
- Asia Pacific leads with 47.3% and grows 10.5% a year.
- The top three suppliers hold an estimated 34.6% of revenue.

USD 1.41 billion against USD 234.2 million: that split between Lumentum's Cloud and Networking and Industrial Tech segments, in fiscal 2025 results filed on 12 August 2025 ([Lumentum SEC filing](https://www.sec.gov/Archives/edgar/data/1633978/000162828025039896/lite_ex991xq4fy25.htm)), is the laser diode market in one line. The laser diode market covers semiconductor lasers sold as bare die, chips on submount and packaged emitters, including edge-emitting lasers, VCSELs and high-power diode bars; it excludes finished fiber lasers and complete laser systems. Douglas Insights sizes it at USD 11.17 billion in 2025, built as 2.42 billion laser diodes times a blended USD 4.62 average selling price, and expects USD 27.60 billion by 2035, a revenue CAGR of 9.47% for 2026 to 2035. Data-center optics now outweigh factory lasers several times over, and the forecast follows that tilt. The study belongs to our [information technology and semiconductors](https://www.douglasinsights.com/industry/ict-semiconductors/) coverage and follows the [Douglas Insights research methodology](https://www.douglasinsights.com/research-methodology/).

## Which application segment makes the money in laser diodes?

Optical communications makes the money: 38.6% of 2025 laser diode revenue, or USD 4.31 billion, because every AI data-center transceiver needs one or more laser chips per lane. Materials processing and pumping follows at 19.4%, and automotive LiDAR is the smallest but quickest segment at 16.5% a year.

| Application segment | Share 2025 | Value 2025 | Growth a year | Value 2035 |
| --- | --- | --- | --- | --- |
| Optical communications | 38.6% | USD 4.31 billion | 11.7% | USD 13.04 billion |
| Materials processing and pumping | 19.4% | USD 2.17 billion | 6.7% | USD 4.15 billion |
| 3D sensing and consumer | 17.9% | USD 2.00 billion | 5.4% | USD 3.38 billion |
| Display and printing | 10.1% | USD 1.13 billion | 3.9% | USD 1.65 billion |
| Medical and life science | 8.2% | USD 916.0 million | 9.3% | USD 2.23 billion |
| Automotive LiDAR | 5.8% | USD 647.9 million | 16.5% | USD 2.98 billion |

Optical communications holds USD 4.31 billion because electro-absorption modulated lasers (EML), distributed feedback lasers and 850 nm VCSELs carry the highest dollar value per die in the laser diode range. Materials processing and pumping is worth USD 2.17 billion, built on 9xx nm pump chips and blue emitters that feed fiber lasers and direct diode cutting heads. 3D sensing and consumer adds USD 2.00 billion from VCSEL arrays in phones and wearables, a high-volume, low-price line. Display and printing brings USD 1.13 billion, mostly red and violet diodes for projectors, head-up displays and laser direct imaging of printed circuit boards. Medical and life science stands at USD 916.0 million, where cyan and violet lines sit inside flow cytometers and DNA sequencers. Automotive LiDAR contributes USD 647.9 million today.

Automotive LiDAR is the fastest laser diode segment at 16.5% a year, rising to USD 2.98 billion by 2035, because 905 nm pulsed emitters move from pilot fleets into series driver-assistance programmes. 3D sensing and consumer grows only 5.4% as smartphone attach rates flatten. By type, edge-emitting lasers carry about 61% of value, VCSELs about 24%, high-power diode bars about 11% and pulsed laser diodes the rest.

## Why are AI data-center links pulling laser diode volume ahead of every other use?

AI data-center optics add 3.35 points of the 6.85% annual unit growth in laser diodes, because each 800G or 1.6T transceiver carries several laser channels and hyperscale clusters keep adding optical ports. Four drivers together make up the full volume leg to 2035.

### Transceiver lasers for AI clusters: 3.35 points

Coherent reported fiscal 2025 revenue of USD 5.81 billion on 13 August 2025, up 23.4%, with its Networking segment at USD 3.42 billion against USD 2.30 billion a year earlier ([Coherent results](https://www.sec.gov/Archives/edgar/data/820318/000119312525179833/d22249dex991.htm)). Lumentum named EML chips, pump lasers and narrow linewidth laser assemblies as the components behind its record quarter. Douglas Insights puts the optical communications share of laser diode units at 9.8% in 2025, yet the segment earns 38.6% of revenue, so each extra transceiver adds far more value than a consumer emitter.

Wafer scale matters as much as demand. Coherent opened the first 6-inch indium phosphide (InP) wafer fabs in Sherman, Texas and Järfälla, Sweden, announced on 25 March 2024, claiming 4x the devices per wafer and a die cost cut of more than 60% ([Coherent release](https://www.coherent.com/news/press-releases/worlds-first-6-inch-inp-scalable-wafer-fabs-paving-the-way-for-the-next-generation-of-lasers-for-ai-transceivers-and-6g-wireless-networks)). Cheaper InP die widen the volume runway for 1.6T optics.

### Automotive LiDAR emitters: 1.45 points

Pulsed laser diodes at 870 nm and 905 nm, offered by Hamamatsu with typical pulsed radiant flux of 21 W, 22 W and 90 W, are the light source for laser radar and rangefinding. Douglas Insights models LiDAR laser diode value rising 16.5% a year, with units adding 1.45 points of unit growth as each sensor uses dozens to hundreds of emitter channels.

### Blue lasers and fiber-laser pumps: 1.15 points

Nichia sells material processing and heating laser diodes at 400 nm to 470 nm and 5 W and above, because short visible wavelengths are absorbed well by copper and other metals. Pump chips for fiber lasers add to the same pull. Together these industrial laser diode lines add 1.15 points, a slower beat tied to machine-tool cycles; the narrower [Fiber Coupled Diode Laser Module Market](https://www.douglasinsights.com/fiber-coupled-diode-laser-module-market/) report tracks the packaged pump stage.

### Life science and instrument lines: 0.90 points

ams OSRAM launched the PLT5 488HB_EP cyan laser diode on 5 May 2025, a 488 nm, 300 mW part it says is up to five times brighter and over 40% more efficient than its predecessor ([ams OSRAM release](https://ams-osram.com/news/press-releases/cyan-laser-diode-up-to-five-times-more-power-for-dna-sequencing)). Sequencers, cytometers and gas analysers such as those in the [Tunable Diode Laser Analyzer Market](https://www.douglasinsights.com/tunable-diode-laser-analyzer-market/) report add 0.90 points. Together, 3.35 + 1.45 + 1.15 + 0.90 equals the 6.85-point volume leg.

## Which bottlenecks hold laser diode growth below the published range?

Three bottlenecks remove 1.95 points of unit growth from laser diodes in our slower case. They are a flat smartphone base for VCSEL sensing, the slow 3-inch to 6-inch InP move, and long qualification cycles for automotive emitters. Price pressure on commodity die adds a further 0.85-point drag on the price leg.

Consumer 3D sensing is the largest drag. VCSEL arrays for face recognition already sit in most premium phones, so new volume depends on replacement cycles; Douglas Insights removes 0.85 points for a scenario in which consumer laser diode units grow under 2% a year.

InP capacity is the second. Coherent said it expects to move the bulk of production from 3-inch to 6-inch InP only over the next few years, and yields on larger wafers take time to reach plan ([Coherent InP fabs](https://www.coherent.com/news/press-releases/worlds-first-6-inch-inp-scalable-wafer-fabs-paving-the-way-for-the-next-generation-of-lasers-for-ai-transceivers-and-6g-wireless-networks)). A delayed ramp removes 0.65 points because EML and DFB supply caps transceiver laser diode shipments.

Automotive qualification is the third. A LiDAR laser diode must pass vehicle-grade reliability testing before it enters a 5-year to 7-year model programme, so design wins convert to units slowly; the slower case strips 0.45 points.

## How much does a laser diode cost, from a USD 0.40 VCSEL die to a pump chip?

Laser diode prices span three orders of magnitude: Douglas Insights estimates consumer VCSEL and red emitters at USD 0.40 to USD 2.50. Transceiver EML and DFB die sell at USD 8 to USD 40, and high-power pump chips and bars at USD 60 to USD 900, blending to USD 4.62 in 2025.

| Laser diode class | Realised price band 2025 | Price trend to 2035 |
| --- | --- | --- |
| Consumer VCSEL and red emitters | USD 0.40 to USD 2.50 | minus 3.5% a year |
| Datacom VCSEL, DFB and EML die | USD 8 to USD 40 | minus 4.2% a year per Gbps |
| Pulsed LiDAR emitters (905 nm) | USD 3 to USD 25 per channel | minus 6.1% a year |
| High-power pump chips and diode bars | USD 60 to USD 900 | minus 2.8% a year per watt |

The blended laser diode price still rises 2.45% a year, to USD 5.89 by 2035, because the mix shifts toward 200G-per-lane EML die that cost several times a 100G part. Per-gigabit and per-watt prices fall; per-unit revenue climbs. Coherent's claim of a more than 60% die cost cut on 6-inch InP is a margin story first and a price story second.

## Who wins laser diode supply, from InP fabs to VCSEL arrays?

Douglas Insights estimates the top three laser diode suppliers, Coherent, Lumentum and ams OSRAM, hold 34.6% of 2025 revenue, a share anchored on disclosed segment revenue of which only the laser-chip portion is counted. Six named firms each defend a different wavelength or application.

| Company | What the laser diode position rests on | Estimated share 2025 |
| --- | --- | --- |
| Coherent | 6-inch InP fabs, datacom VCSELs, pump lasers | 14.8% |
| Lumentum | EML chips, pump lasers, narrow linewidth lasers | 11.3% |
| ams OSRAM | Visible, infrared and cyan packaged diodes | 8.5% |
| Nichia | UV to green GaN laser diodes | 6.9% |
| TRUMPF Photonic Components | Datacom and sensing VCSELs | 3.7% |
| Hamamatsu Photonics | Pulsed and CW laser diodes, bar modules | 2.4% |

Lumentum reported fiscal 2025 revenue of USD 1.65 billion on 12 August 2025, of which Cloud and Networking supplied USD 1.41 billion ([Lumentum results](https://www.sec.gov/Archives/edgar/data/1633978/000162828025039896/lite_ex991xq4fy25.htm)). Coherent's Lasers segment earned USD 1.44 billion in fiscal 2025 beside its larger Networking unit, though that segment spans finished laser systems as well as diodes.

TRUMPF Photonic Components showed a 56 Gbps, 850 nm VCSEL rated from 0 °C to 105 °C on 28 March 2025, with reach of 400+ meters, in arrays up to 1x12 ([TRUMPF release](https://trumpf.com/zh_INT/newsroom/global-press-releases/press-release-detail-page/release/ofc-trumpf-praesentiert-hochgeschwindigkeits-photodiode-und-vcsel-9282)). Nichia covers 375 nm to 540 nm across lithography, printing and life science. Hamamatsu supplies 870 nm and 905 nm pulsed emitters. ams OSRAM spans blue to infrared, with the 300 mW cyan part as its newest life-science line.

## Where are laser diode revenue and growth concentrated by region?

Asia Pacific leads with USD 5.28 billion, or 47.3% of 2025 laser diode revenue, because transceiver assembly, phone production and LiDAR module lines cluster there; it is also the fastest region at 10.5% a year.

North America holds USD 2.97 billion at 9.2% growth, driven by hyperscale data-center build-outs and the Sherman, Texas InP fab. Europe follows at USD 2.13 billion and 7.4% a year, built on industrial pump lasers and automotive sensing. Latin America is worth USD 435.7 million, rising 8.3% a year with medical device and telecom imports. The Middle East and Africa adds USD 346.3 million at 8.37% a year. The wildcard is Europe: a faster LiDAR ramp at local carmakers would lift its laser diode growth above 9%. Asia Pacific reaches USD 14.34 billion by 2035.

## What range of laser diode revenue does each 2035 scenario produce?

Laser diode revenue lands between USD 21.12 billion and USD 34.59 billion in 2035 across our slower and faster cases, around a base of USD 27.60 billion. That base rests on 6.85% unit growth and 2.45% price growth a year.

| Case | Unit growth | Price growth | 2035 laser diode revenue |
| --- | --- | --- | --- |
| Slower | 4.90% | 1.60% | USD 21.12 billion |
| Base | 6.85% | 2.45% | USD 27.60 billion |
| Faster | 8.60% | 3.10% | USD 34.59 billion |

A single point added to annual laser diode unit growth shifts 2035 revenue by roughly USD 2.69 billion. Published forecasts run from 11.7% to 14.4% a year; our 9.47% sits below them because the scope stops at die and packaged emitters and excludes fiber-coupled modules and systems. The faster case assumes Coherent completes its 6-inch InP shift early and that Lumentum's 12 August 2025 mix, 88.2% Cloud and Networking in the fourth quarter, holds through 2030 ([Lumentum filing](https://www.sec.gov/Archives/edgar/data/1633978/000162828025039896/lite_ex991xq4fy25.htm)).

## How do FDA Class I to Class IV laser rules shape laser diode products?

US federal rule 21 CFR 1040.10 classes every laser product into six hazard classes, from Class I to Class IV. It has applied to laser products made after 1 August 1976, and finished devices carrying laser diodes must meet its housing, interlock and labeling requirements.

The standard sets accessible emission limits, protective housings, key control, emission indicators and beam attenuators, and it requires recertification when a certified product is modified ([eCFR 21 CFR 1040.10](https://www.ecfr.gov/current/title-21/chapter-I/subchapter-J/part-1040/section-1040.10)). Its latest amendment, 83 FR 13864, is dated 2 April 2018. Laser diodes sold as components to other manufacturers fall under exceptions, so most compliance cost lands on the module or device maker. A Class IV 5 W blue processing diode needs heavier interlocks than a Class I VCSEL in a phone, which adds roughly 4% to 7% to system cost in Douglas Insights estimates.

## Douglas Exclusive: the Laser Diode Wavelength-Application Register

The Laser Diode Wavelength-Application Register is a Douglas Insights model, not an official register. It is built from 12 inputs: 8 primary pages read for this study (2 SEC filings, 3 company releases, 2 product pages and 1 federal regulation) and 4 published growth forecasts. It allocates the USD 11.17 billion 2025 laser diode value across 6 wavelength bands.

| Wavelength band | Main uses | Named suppliers | Share of value | 2025 value |
| --- | --- | --- | --- | --- |
| 375 to 435 nm ultraviolet and violet | lithography, printing, sequencing | Nichia | 7.3% | USD 815.5 million |
| 440 to 540 nm blue and green | metal processing, cyan sequencing lines | Nichia, ams OSRAM | 9.6% | USD 1.07 billion |
| 635 to 660 nm red | projection, head-up displays, pointers | Nichia | 6.2% | USD 692.6 million |
| 850 nm datacom and sensing VCSEL | short-reach links, 3D sensing | TRUMPF, Coherent | 24.4% | USD 2.73 billion |
| 870 to 905 nm pulsed | LiDAR, rangefinding | Hamamatsu | 7.1% | USD 793.2 million |
| 9xx nm pumps and InP telecom bands | fiber-laser pumping, EML and DFB transceivers | Lumentum, Coherent | 45.4% | USD 5.07 billion |

The register finds that 69.8% of laser diode value sits in two infrared bands, 850 nm and the 9xx nm to InP telecom range, while the visible bands from violet to red hold 23.1%. The finding matters for buyers: a supply shock in one InP or GaAs fab hits more than two-thirds of revenue, whereas GaN visible lines are spread across fewer, specialist makers such as Nichia and ams OSRAM.

## How the model multiplies 2.42 billion laser diodes by a USD 4.62 price?

The laser diode model multiplies 2.42 billion units by USD 4.62 to reach USD 11.17 billion in 2025. It then grows units 6.85% and price 2.45% a year, giving 4.69 billion units and USD 27.60 billion in 2035 across 5 regions and 6 segments.

Inputs: 2 SEC exhibits, 3 company releases, 2 product pages, 1 federal regulation and 4 published forecasts, 12 data points in all. Regional values sum to USD 11.17 billion in 2025 and USD 27.60 billion in 2035. Segment values for 2035 sum to USD 27.43 billion, within 0.6% of the global figure. A top-down cross-check, counting the laser-chip share of Coherent and Lumentum revenue, agrees with the bottom-up base within 6%. 2026 revenue is USD 12.23 billion, from 2.58 billion units at USD 4.73. Douglas Insights calculates the 2026 to 2035 revenue CAGR at 9.47%.

## Which wavelengths, from 375 nm ultraviolet to 905 nm infrared, define the laser diode scope?

The laser diode scope runs from 375 nm ultraviolet die to 905 nm pulsed emitters and on into InP telecom bands. It covers ultraviolet and violet, blue and green, red and near-infrared parts that together make up USD 11.17 billion of 2025 revenue.

Nichia's range sets the short end at 375 nm and reaches green at 540 nm, with red options at 635 nm to 660 nm. Near-infrared lines include 850 nm VCSELs, 870 nm and 905 nm pulsed diodes, and pump and telecom die. The scope includes edge-emitting lasers, VCSELs, high-power diode bars and pulsed laser diodes, and it stops before fiber coupling. Cooling of the AI racks these lasers serve is sized separately in the [Data Centre Liquid Cooling Market](https://www.douglasinsights.com/data-centre-liquid-cooling-market/) report.

## Why is automotive LiDAR the fastest laser diode segment at 16.5% a year?

Automotive LiDAR grows 16.5% a year, from USD 647.9 million in 2025 to USD 2.98 billion in 2035. Each sensor carries many 905 nm laser diode channels and premium driver-assistance packages are spreading to mid-range models.

Price is the counterweight. Douglas Insights expects pulsed emitter prices per channel to fall 6.1% a year, so unit growth near 23% delivers 16.5% value growth. Hamamatsu's 90 W peak option shows the power headroom; range, not price, decides design wins.

## Which pump-laser and EML chip signals should laser diode buyers watch to 2035?

Three signals decide whether laser diode revenue tracks USD 27.60 billion or USD 34.59 billion by 2035: InP wafer yields at 6 inches, 200G-per-lane EML qualification, and quarterly cloud laser revenue at Lumentum and Coherent.

Watch the share of Lumentum revenue from Cloud and Networking, 88.2% in its fourth fiscal quarter of 2025. Watch Coherent's Networking line, USD 945.2 million in the same quarter. If both keep growing above 15%, the laser diode base case is conservative. A pause would point to the slower USD 21.12 billion path.

## Market by segment

| Segment | Share | Value |
| --- | --- | --- |
| Optical communications | 38.6% | $4.31 Bn |
| Materials processing and pumping | 19.4% | $2.17 Bn |
| 3D sensing and consumer | 17.9% | $2.00 Bn |
| Display and printing | 10.1% | $1.13 Bn |
| Medical and life science | 8.2% | $916.0 Mn |
| Automotive LiDAR | 5.8% | $647.9 Mn |

## Market by region (USD million)

| Region | 2025 | 2026 | 2035 | CAGR 2026-2035 |
| --- | --- | --- | --- | --- |
| Global | 11,171.2 | 12,229.1 | 27,603.5 | 9.47% |
| Asia Pacific | 5,284 | 5,838.8 | 14,341.2 | 10.5% |
| North America | 2,971.5 | 3,244.9 | 7,164.8 | 9.2% |
| Europe | 2,133.7 | 2,291.6 | 4,356.9 | 7.4% |
| Latin America | 435.7 | 471.9 | 967.1 | 8.3% |
| Middle East and Africa | 346.3 | 375.3 | 773.5 | 8.37% |

## Dataset

| Series | Value | Unit |
| --- | --- | --- |
| Market size 2025 | 11,171.2 | USD million |
| Market size 2035 | 27,603.5 | USD million |
| Revenue CAGR 2026-2035 | 9.47 | percent |
| Volume CAGR 2026-2035 | 6.85 | percent |
| Price per laser diode CAGR 2026-2035 | 2.45 | percent |

## Frequently asked questions

### What share of laser diode revenue comes from optical communications?

38.6% of 2025 revenue, or USD 4.31 billion, because AI data-center transceivers use one or more EML, DFB or VCSEL die per lane.

### What is the laser diode market worth in 2025 and 2035?

USD 11.17 billion in 2025, rising to USD 27.60 billion by 2035 at a 9.47% revenue CAGR, on 2.42 billion units at USD 4.62 each.

### Why is our CAGR below published laser diode forecasts?

9.47% sits below the 11.7% to 14.4% published range because Douglas Insights counts die and packaged emitters only, not fiber-coupled modules or systems.

### How fast is automotive LiDAR adding laser diode demand?

16.5% a year, from USD 647.9 million in 2025 to USD 2.98 billion in 2035, as 905 nm pulsed emitters enter series driver-assistance programmes.

### What does a laser diode sell for?

USD 0.40 to USD 2.50 for consumer VCSEL and red emitters, USD 8 to USD 40 for transceiver die and USD 60 to USD 900 for pump chips and bars, per Douglas Insights estimates.

### Which companies lead laser diode supply?

34.6% of 2025 revenue sits with Coherent, Lumentum and ams OSRAM, in Douglas Insights estimates, with Nichia, TRUMPF Photonic Components and Hamamatsu next.

### Which region buys the most laser diodes?

47.3% of 2025 revenue, USD 5.28 billion, comes from Asia Pacific, which also grows fastest at 10.5% a year.

### What US rule governs products built with laser diodes?

21 CFR 1040.10 sorts laser products into six classes, Class I to Class IV, for products made after 1 August 1976.

## Sources

- [Lumentum via SEC EDGAR, Lumentum fourth quarter and fiscal 2025 results](https://www.sec.gov/Archives/edgar/data/1633978/000162828025039896/lite_ex991xq4fy25.htm)
- [Coherent via SEC EDGAR, Coherent fiscal 2025 fourth quarter results](https://www.sec.gov/Archives/edgar/data/820318/000119312525179833/d22249dex991.htm)
- [Coherent, World's first 6-inch InP scalable wafer fabs](https://www.coherent.com/news/press-releases/worlds-first-6-inch-inp-scalable-wafer-fabs-paving-the-way-for-the-next-generation-of-lasers-for-ai-transceivers-and-6g-wireless-networks)
- [ams OSRAM, Cyan laser diode PLT5 488HB_EP](https://ams-osram.com/news/press-releases/cyan-laser-diode-up-to-five-times-more-power-for-dna-sequencing)
- [TRUMPF, OFC: TRUMPF high data rate photodiode and VCSEL](https://trumpf.com/zh_INT/newsroom/global-press-releases/press-release-detail-page/release/ofc-trumpf-praesentiert-hochgeschwindigkeits-photodiode-und-vcsel-9282)
- [eCFR, US Government, 21 CFR 1040.10 Laser products](https://www.ecfr.gov/current/title-21/chapter-I/subchapter-J/part-1040/section-1040.10)
- [Nichia, Industrial laser diodes](https://led-ld.nichia.co.jp/en/product/ld_industry.html)
- [Hamamatsu Photonics, Pulsed laser diodes](https://www.hamamatsu.com/us/en/product/lasers/semiconductor-lasers/plds.html)

## How to cite

Douglas Insights, "Laser Diode Market", DI-IT-10612, updated 2026-10-07, https://www.douglasinsights.com/laser-diode-market/