Laser Technology Market by Type (Solid, Liquid, & Gas), Application (Optical communication & laser processing), Vertical (Commercial, Telecom, Research, Defense, Medical, Automotive, Electronics, & Industrial), & Geography - Global Forecast to 2022
“The overall laser technology market is expected to grow at a CAGR of 5.2%”
The laser technology market is expected to reach USD 15.38 billion by 2022, growing at a CAGR of 5.2% between 2017 and 2022. Enhanced performance over the traditional material processing techniques is one of the major factors fueling the growth of this market. Moreover, the increasing demand from the healthcare sector and shift towards production of nano and micro devices are expected to generate a demand for this market. The key restraining factor for the growth of this market is the regulatory compliances.
“The laser technology market for gas laser is expected to grow at a highest rate during the forecast period”
The laser technology market for gas laser is expected to grow at the highest rate between 2017 and 2022. Gas lasers are suitable for applications in which efficient beam quality, single mode operation, and laser beam with long coherent length is needed. Gas laser helps to prevent the damage of high-volume active material and allow quick heat removal from the laser cavity. These properties of the gas laser make it an ideal choice for a wide range of applications such as making holograms and reading of bar codes.
“Optical communication is expected to hold the largest share during the forecast period”
The optical communication is expected to hold the largest share in this market during 2017–2022. Optical communication is a form of communication that uses light as a platform for transmission of data. Laser technology devices are used as high-speed transmitters in analog and digital fiber networks. It enhances the transmission speed of data at rates that are 10 to 100 times faster than the traditional method, i.e., radio.
“APAC to hold the largest share and also grow at the highest rate in the laser technology market”
Asia Pacific (APAC) is expected to hold the largest share in this market during 2017–2022. The huge population base, increasing investments for research and development (R&D) activities, and increasing focus of international and domestic IT companies for growth of big data analytics and cloud-based services in the region are expected to drive the growth of the this market. Moreover, the continuous demand for cost-effective and fast processing laser machine tools from the semiconductor, automotive, industrial, and telecommunication verticals are expected to drive the growth of this market in this region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key people in the market. The break-up of primary participants for the report has been shown below:
• By Company Type: Tier 1 – 20 %, Tier 2 – 55%, and Tier 3 – 25%
• By Designation: C-Level Executives – 50%, Directors – 25%, and Managers – 25%
• By Region: Americas – 60%, Europe – 20%, APAC – 10%, and RoW – 10%
The report also profiles the key players in the laser technology market and analyzes their market ranking. The prominent players profiled in this report are as Coherent, Inc. (US), IPG Photonics Corp. (US), Trumpf Group (Germany), Lumentum Holdings Inc. (US), Jeanoptik AG (Germany), Novanta Inc (US), Quantel Group (UK), LasaerStar Technologies Corp. (US), Epilog Laser (US), and MKS Instruments (US).
This research report categorizes the overall laser technology market on the basis of type, application, vertical, and geography. Moreover, the report provides the value chain analysis of laser technology market. Furthermore, the report discusses the major drivers, restraints, challenges, and opportunities pertaining to the market and the market ranking analysis.
Reasons to Buy the Report
The report would help leaders/new entrants in the laser technology market in the following ways:
1. This report segments the laser technology market comprehensively and provides the closest market size estimation for subsegments across different regions.
2. The report would help stakeholders understand the pulse of the market and provide them with the information on key drivers, restraints, challenges, and opportunities for market growth.
3. This report would help stakeholders understand their competitors better and gain insights to improve their position in the business. The competitive landscape section includes the competitor ecosystem, new product launches, agreements, expansions, collaborations, partnerships, and acquisitions.