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Blue Laser Diode Market size is set to grow by USD 334.9 million from 2024-2028, Advances in laser projectors boost the market, Technavio

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NEW YORK, Aug. 12, 2024 /PRNewswire/ — The global blue laser diode market size is estimated to grow by USD 334.9 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  15.2%  during the forecast period. Advances in laser projectors is driving market growth, with a trend towards growing popularity of high-power blue laser diodes. However, declining demand for blu-ray disc players and dvd players  poses a challenge. Key market players include ams OSRAM AG, Coherent Inc., Egismos Technology Corp., Exaktera LLC, Frankfurt Laser Co., IADIY Photonics, Laser Components GmbH, Laserex Technologies Pty Ltd., Laserline GmbH, Nichia Corp., NUBURU Inc., Omicron-Laserage Laserprodukte GmbH, Panasonic Holdings Corp., Renesas Electronics Corp., RPMC Lasers Inc., Sharp Corp., Tomorrows System Sp zoo, TOPTICA Photonics AG, Ushio Inc., and Vortran Laser Technology Inc..

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Blue Laser Diode Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 15.2%

Market growth 2024-2028

USD 334.9 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

12.87

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

APAC at 42%

Key countries

US, China, Germany, Canada, and Japan

Key companies profiled

ams OSRAM AG, Coherent Inc., Egismos Technology Corp., Exaktera LLC, Frankfurt Laser Co., IADIY Photonics, Laser Components GmbH, Laserex Technologies Pty Ltd., Laserline GmbH, Nichia Corp., NUBURU Inc., Omicron-Laserage Laserprodukte GmbH, Panasonic Holdings Corp., Renesas Electronics Corp., RPMC Lasers Inc., Sharp Corp., Tomorrows System Sp zoo, TOPTICA Photonics AG, Ushio Inc., and Vortran Laser Technology Inc.

Market Driver

The global blue laser diode market has experienced a moderate growth due to the limited innovation in this sector. However, the increasing adoption of high-power blue laser diodes in various industries is expected to boost market growth. Major players like USHIO and OSRAM have introduced high-power blue laser diodes, capable of delivering a maximum power of 250 W at 450 nm wavelength. These diodes generate less heat, ensuring high operational efficiency. Additionally, blue laser diodes have a superior absorption capacity, enabling them to cut through metals such as copper and gold, which is not possible with red or green laser diodes. Consequently, these diodes are extensively used in material processing equipment, 3D printers, and optical fiber communication networks. These factors are anticipated to fuel the expansion of the global blue laser diode market during the forecast period. 

The Blue Laser Diode market is experiencing significant growth due to its increasing applications in various industries. One of the major sectors driving this trend is the LiDAR system, where blue laser diodes are used for their superior brightness and high reliability in creating 3D maps. In addition, blue laser diodes find extensive use in cameras for range finding, target selection, and illumination. Key components of LiDAR systems include data processing electronics, photodetector, motion control equipment, and laser source. Blue laser diodes offer advantages such as superior brightness, high pulse power, and longer reach compared to other laser sources like VCSEL diodes, visible laser diodes, or ultraviolet lasers. However, challenges such as LIDAR system limitations in bad weather conditions and pump sources require continuous innovation. Solid state systems and laser diode arrays are gaining popularity due to their compact size and cost-effectiveness. Rare earth metals like InGaN, GaN, AIGaInP, and doping materials like neodymium, chromium, erbium, and ytterbium are essential in producing blue laser diodes. Leading players in the market include Hamamatsu Photonics, with a focus on medical applications and fiber laser market. The market is expected to grow further as blue laser diodes find applications in IR, UV, and other industries. 

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Market Challenges

The global blue laser diode market faces challenges due to decreasing demand for Blu-Ray disc players and DVD players. Blue laser diodes are essential components in these devices for reading and writing data. However, the rise of online video streaming platforms and portable data storage devices has diminished the need for physical media. According to Technavio, US revenue from Blu-Ray disc and DVD sales dropped by USD549.88 million from 2013 to 2018. Consumers now access content directly from cloud platforms, eliminating the requirement for Blu-Ray discs or DVDs. This trend is projected to impede the expansion of the global blue laser diode market.The blue laser diode market is experiencing significant growth due to its increasing applications in various industries. Blue laser diodes, a type of semiconductor laser diode, emit coherent radiation in the visible spectrum and are in high demand for fiber lasers in the fiber laser market. However, the production of blue laser diodes faces challenges due to the use of rare earth metals like Neodymium, Chromium, Erbium, Ytterbium, and Gallium aluminum arsenide in their manufacture. These elements are costly and can impact the overall price of the laser diode. Blue laser diodes find applications in medical devices, telecommunication industry for broadband communication systems in data centers, and industrial processes like precision cutting, welding, heat treating, cladding, and more. The market for blue laser diodes is expanding into new areas such as LIDAR, radar systems, and autonomous vehicles. However, challenges include achieving high output powers, monochromaticity, coherence, and directionality, which are essential for these applications. Currently, companies like Hamamatsu Photonics lead the market, but competition is increasing from other semiconductor device manufacturers. Blue laser diodes have diverse applications, including in compact disc players, remote control devices, intrusion detection systems, motion sensors, 3D depth sensors, optical disk pickup, and solid-state lasers. The market for blue laser diodes is expected to grow further due to their use in emerging technologies like LIDAR and autonomous vehicles. Despite the challenges, the future of the blue laser diode market looks promising.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This blue laser diode market report extensively covers market segmentation by  

Type 1.1 Single-mode1.2 Multi-modeApplication 2.1 Bio/medical2.2 Laser projectors and scanner2.3 Blu-ray devices2.4 OthersGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

Blue laser diodes, a type of semiconductor laser diode, emit blue light and are gaining significant attention due to their versatile applications. These diodes are essential components in various industries, including fiber lasers for material processing and broadband communication systems in telecom and data centers. Blue laser diodes find extensive use in fiber lasers for precision cutting of metals, surpassing the capabilities of traditional lasers. In contrast, they are also utilized in medical applications for various purposes, such as UV phototherapy and IR spectroscopy. Rare earth elements like Neodymium, Chromium, Erbium, Ytterbium, and Gallium aluminum arsenide are crucial in the fabrication of blue laser diodes. The global market for blue laser diodes is expected to grow substantially due to the increasing demand for advanced technologies in telecommunications, medical, and industrial sectors.

Market Research Overview

Blue laser diodes, also known as semiconductor laser diodes, are solid-state lasers that emit coherent radiation in the visible and near-infrared spectrum. They are essential components in various industries, including fiber lasers, telecommunications, medical applications, and more. Blue laser diodes are available in different wavelengths, such as UV, IR, and those using rare earth metals like Neodymium, Chromium, Erbium, and Ytterbium. The market for blue laser diodes is driven by their applications in broadband communication systems, data centers, precision cutting, welding, heat treating, cladding, and more. Gallium aluminum arsenide is a common material used in the fabrication of blue laser diodes. Applications include motion sensors, 3D depth sensors, optical disk pickup, LIDAR systems, and radar systems. Output powers, wavelengths, beam shapes, monochromaticity, coherence, and directionality are key parameters for blue laser diodes. Limitations of LIDAR systems include pulse power, bad weather, and pump sources. Solid state systems, laser diode arrays, and high reliability are some of the advantages of blue laser diodes. Doping materials like InGaN and GaN are used to enhance the performance of blue laser diodes.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeSingle-modeMulti-modeApplicationBio/medicalLaser Projectors And ScannerBlu-ray DevicesOthersGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Technology

Cat® Simulators New Hydraulic Mining Shovel System Builds Operator Skills for Mine Sites

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52 mins ago

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September 23, 2024

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Simformotion™ LLC, a leader in heavy equipment simulator training solutions, announces the release of the new Cat® Simulators Hydraulic Mining Shovel System.

PEORIA, Ill., Sept. 23, 2024 /PRNewswire-PRWeb/ — Simformotion™ LLC – a leader in heavy equipment simulator training solutions – announces the release of the new Cat® Simulators Hydraulic Mining Shovel System. Operator trainees can utilize the system inside a classroom or at satellite mine locations.

“The new Hydraulic Mining Shovel simulator system is the cornerstone of our Cat Simulators mining models. The system trains students and operators using authentic Cat controls and teaches applications found on real-world job sites,” says CEO Lara Aaron.

The hands-on training system is set in a mining environment and teaches learners how to operate the Hydraulic Mining Shovel, including inspecting the machine, spotting and properly loading trucks, and more. Correct, efficient operation increases safety, production and cost savings. Simulation is a safe alternative to using actual machines for heavy equipment operator training. Students and operators can train anytime and anywhere using simulators — no need to take a costly machine out of production, worry about the weather or, most importantly, worry about the operator’s safety.

“The new Hydraulic Mining Shovel simulator system is the cornerstone of our Cat Simulators mining models. The system trains students and operators using authentic Cat controls and teaches applications found on real-world job sites. We often hear of the struggles to find skilled operators. Cat Simulators systems help companies build their own workforce,” says CEO Lara Aaron.

The Cat Simulators Hydraulic Mining Shovel system is available in multiple languages and includes SimU Campus™, a built-in reporting software that records and generates reports of learners’ simulation sessions and compares their performance to Caterpillar benchmarks. The system features authentic Cat controls, a motion system, exclusive walkaround machine inspection training, and a companion SimScholars™ curriculum, making the training package a unique offering.

The companion SimScholars online curriculum is a one-to-one match with the simulator model and can be used in the classroom or for remote learning. It is an interactive, turn-key solution complete with instructor guides, videos, quizzes and more. Integrate the Cat Simulators Hydraulic Mining Shovel system and its curriculum together for a unique, blended learning experience.

For even more training value and for a more immersive experience, add VR Edition. With the VR headset and patented VR Now technology, users experience a larger view of the virtual environment with greater depth perception. The simulator is portable and easy to move from a training room to a trailer to satellite locations.

About Simformotion™ LLC

©Copyright 2024 Simformotion™ LLC is a leader in heavy equipment simulator training solutions. Simulation can help address initiatives such as safety and production; while ensuring training can be delivered anytime day or night, regardless of weather conditions. Cat Simulators are chosen as training solutions in such markets as mining, construction, forestry, government, and trade and vocational schools. Simformotion™ LLC is a licensee of Caterpillar Inc. As used herein, “Simformotion” means Simformotion™ LLC, a Delaware limited liability company.

About Caterpillar Inc.

About Caterpillar Inc. With 2023 sales and revenues of $67.1 billion, Caterpillar Inc. is the world’s leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. For nearly 100 years, we’ve been helping customers build a better, more sustainable world and are committed and contributing to a reduced-carbon future. Our innovative products and services, backed by our global dealer network, provide exceptional value that helps customers succeed. Caterpillar does business on every continent, principally operating through three primary segments – Construction Industries, Resource Industries and Energy & Transportation – and providing financing and related services through our Financial Products segment. Visit us at caterpillar.com or join the conversation on our social media channels at caterpillar.com/en/news/social-media.html.

CAT, CATERPILLAR, LET’S DO THE WORK, their respective logos, “Caterpillar Corporate Yellow,” and the “Power Edge” and “Modern Hex” trade dress, as well as corporate and product identity used herein, are trademarks of Caterpillar and may not be used without permission. www.cat.com / www.caterpillar.com Third party trademarks are the property of their respective owners.

Media Contact
Kim Roberts, Simformotion, 1 3096703200, kroberts@simformotion.com, https://simformotion.com/

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SOURCE Simformotion

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GR0 CEO Kevin Miller Snags C-Suite Insiders CEO of the Year Award for Brand Optimization

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52 mins ago

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September 23, 2024

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GR0 Co-Founder and CEO Kevin Miller Honored for Excellence in Leadership, Innovation, and Industry Impact

LOS ANGELES, Sept. 23, 2024 /PRNewswire-PRWeb/ — Kevin Miller, Co-Founder and CEO of GR0, was awarded CEO of the Year for brand optimization from the prestigious C-Suite Leadership Awards Program. This recognition underscores Miller’s outstanding leadership, innovation, and transformative impact in the digital marketing industry.

Recognized for celebrating excellence in senior executives, the C-Suite Leadership Awards Program highlights remarkable achievements in business. Emphasizing the importance of exceptional leadership, innovation, and industry impact, the program honors high-performing executives who inspire success while shaping the future of their companies.

As Co-Founder and CEO of GR0, Kevin Miller has propelled his company to the forefront of the digital marketing industry. Leveraging extensive expertise from roles at Google and Open Listings, Miller has spearheaded notable successes for GR0, including accolades such as a Platinum dotCOMM award in 2024 and a Best SEO Company award from Clutch in 2021.

Assisting both D2C and B2B clients, GR0 is known for delivering measurable growth and impactful results as a trusted agency for businesses seeking transformative omnichannel digital marketing solutions.

Miller’s dedication to his team and commitment to fostering an exemplary working environment have not gone unnoticed. He was recognized with a Best CEO Award from Glassdoor and was instrumental in GR0 being named a Best Company for Women by Great Place to Work in 2024. These achievements underscore Miller’s holistic approach to leadership, focusing on business success and employee well-being.

For further details on Miller’s remarkable achievements and to explore GR0’s transformative digital marketing strategies, visit GR0’s website.

About GR0: A leading omnichannel digital marketing agency based in Los Angeles, GR0 delivers exceptional growth and impactful results for a diverse clientele. With a record of innovation and recognition in digital marketing, GR0 sets benchmarks and drives success stories for businesses worldwide.

Media Contact

GR0 Agency, GR0, +1 (310) 439-1887, performancepr@gr0.com, gr0.com 

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First Pacific Bank expands its instant payments offerings with Finastra, driving growth

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52 mins ago

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September 23, 2024

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With Finastra Payments To Go, the bank enhances its payments infrastructure and unlocks new opportunities 

LAKE MARY, Fla., Sept. 23, 2024 /PRNewswire/ — Finastra today announced that First Pacific Bank, a Southern California-based community bank that offers custom financial solutions for individuals and businesses, has selected Finastra Payments To Go to modernize its payments infrastructure. The cloud-based, SaaS payments hub solution will help the bank to deliver FedNow send and receive services 24/7, support ISO 20022 compliance, and enable its projected growth. 

As part of Finastra’s commitment to Open Finance, Payments To Go offers seamless connectivity to other software providers, fintechs, and financial institutions, giving banks the flexibility needed to deploy modern and agile payment solutions quickly and efficiently.

“Our selection of Payments To Go was driven by the need for a robust instant payments platform that supports our growth and innovation plans, particularly as we expand our commercial business,” said Sharokin Badal, SVP, Director of Deposit and Treasury Services at First Pacific Bank. “With Finastra, our customers will benefit from additional payment offerings, enabling better cash flow and financial management. The modernity and scalability of Payments To Go, along with its seamless integration with our existing vendors, make it the ideal solution.”

Deployed on Microsoft Azure cloud, Payments To Go provides the bank with the agility needed to offer new and innovative payments rails, including FedNow Service. As one of the first software providers in the industry to complete certification for the FedNow Service and ISO 20022 compliance, Finastra is well-positioned to provide financial institutions with the ability to deliver instant payment services around the clock, with more than 200 customers across the US able to launch FedNow Service through its solutions.

“Our payments as a service solution provides First Pacific Bank with a modern infrastructure that enables scalability and an enhanced customer experience,” said Radha Suvarna, Chief Product Officer, Payments at Finastra. “We’re pleased that the bank selected us to not just prepare them for regulatory and compliance requirements, but to support the team as they meet the moment to unlock new opportunities in payments innovation.”

“Readiness for both ISO 20022 messaging standards for Fedwire and the FedNow Service are critically important for community-based financial institutions to stay competitive and compliant as the instant payments space continues to evolve,” said Erika Baumann, Director Commercial Banking and Payments at Datos Insights. “By aligning with global standards and embracing new payment rails, community banks are well positioned to improve their offerings.”

To learn more about Payments To Go, visit Finastra at Sibos 2024 on stand G30.

About Finastra
Finastra is a global provider of financial services software applications across Lending, Payments, Treasury and Capital Markets, and Universal (retail and digital) Banking. Committed to unlocking the potential of people, businesses and communities everywhere, its vision is to accelerate the future of Open Finance through technology and collaboration, and its pioneering approach is why it is trusted by ~8,100 financial institutions, including 45 of the world’s top 50 banks. For more information, visit finastra.com.

About First Pacific Bank
First Pacific Bank is a wholly owned subsidiary of First Pacific Bancorp (OTC Pink: FPBC) and is a growing community bank catering to individuals, professionals, and small-to-medium sized businesses throughout Southern California. With a history that spans 17 years, the Bank offers a personalized approach, access to decision makers, a broad range of solutions, and a commitment to delivering an exceptional customer experience. First Pacific Bank operates locations in Los Angeles County, Orange County, San Diego County, and the Inland Empire. For more information, visit firstpacbank.com or call 888.BNK.AT.FPB.

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