The global laser technology market size was USD 12.44 Billion in 2021 and is expected to register a revenue CAGR of 8.6% during the forecast period, according to latest analysis by Emergen Research. Laser technology market revenue growth is primarily driven by factors such as rising adoption of laser technology in the electronics sector and medical applications and increasing adoption of various technologies emerging from laser-based applications such as Augmented Reality (AR) and Virtual Reality (VR), Vertical-Cavity Surface-Emitting Laser (VCSEL), Light Detection and Ranging (LiDAR). Laser technology offers high degree of adaptability, sustainability, productivity, and accuracy, hence it has found extensive usage and success in a wide range of sectors including manufacturing, chemical production and processing, automotive, and healthcare.
COVID-19 is motivating enterprises to use laser-based solutions. The pandemic disrupted supply chain process, allowing end-users to experience negative consequences in business and industrial processes. In addition, researchers throughout the world have been working on creating laser sensors that can identify the virus at early stage of infection, from nose swabs or saliva, in a matter of minutes. Increasing government investments and money raised by big businesses is also expected to fuel growth of this industry throughout pandemic
Some of the key participants in this Laser Technology Market industry include:
Coherent, Inc., IPG Photonics Corporation, Trumpf, Lumentum Operations LLC., Jenoptik, Novanta Inc., Lumibird, LaserStar Technologies Corporation, Corning Incorporated, and Bystronic Group.
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The Global Laser Technology Market report provides full coverage of the companies’ data, including details about their production and manufacturing capacity, product portfolio, business overview, revenue, gross profit margins, sales network and distribution channel, financial standing, and market position. The report offers a comprehensive overview of the regional and competitive landscape and provides a deeper insight into the current market scenario and future growth prospects.
Some Key Highlights From the Report
The gas laser segment accounted for a moderate revenue share in 2021. CO2 lasers are commonly employed as industrial lasers for laser material processing, particularly for cutting and structuring plastic materials, wood, die boards, glass pieces, and other materials with high absorption at 10.6 m and power levels ranging from 20–200 W.
The macro processing segment accounted for a significant revenue share in 2021. Its applications vary from aerospace to production of jewelry. Laser welding works by focusing on highly concentrated beam of light on a tiny area, allowing the spot under laser beam to receive light and become incredibly active.
The automotive segment accounted for a significant revenue share in 2021. In the competitive field of automotive manufacturing, there appears to be little room for error. One way that automakers can employ is laser cutting, which is one of the most effective methods for ensuring precise quality cuts with clean edges and quick cycle time. Laser cutting technology can also be used for welding, cladding, engraving, and branding, in addition to cutting. As laser cutting is so versatile, it has become a vital tool in global automobile production business.
The North America market accounted for largest revenue share in 2021. Increasing R&D investments and growing electronics and manufacturing industries in the region are driving market revenue growth. In addition, rising healthcare infrastructures, increasing number of OEMs, as well as a growing amount of laser centers are expected to drive growth of the market in the region.
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The report studies the impact of the COVID-19 pandemic on the Laser Technology Market .The report offers valuable insights into the market size, market share, sales channel and distribution network, segmentation of the market, demands, and trends, and growth prospects. The report also studies the growth of the market on a global and regional scale.
Scope of the Global Laser Technology Market Report :
The report performs an accurate estimation of the growth prospects of the different market segments by studying the current market scenario, past performance, demand and supply ratio, production, consumption, sales, and revenue generation of the key players in the upcoming years. The market segmentation provides a 360° view of the Laser Technology Market industry, which turns out to be beneficial for readers interested in this sector.
Global Laser Technology Market Research Objectives
To provide deep understanding of the Laser Technology industry
To highlight the critical data of each segment at extensive level.
To determine key success factors in different segments of Laser Technology industry.
To highlight the trends in specific sectors.
To give insights into key segments.
To carry economic analysis, build quantitative and financial models of global Laser Technology industry and individual segments.
To project future performance of the global Laser Technology industry and identify imperatives.
To identify risks of investing in particular segments and suggest appropriate strategies to mitigate the risks.
To study what held back the Laser Technology industry during pandemic and forces that are driving up the global Laser Technology market post-pandemic.
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Emergen Research has segmented the global laser technology market based on type, application, end-use, and region:
Type Outlook (Revenue, USD Billion; 2019-2030)
Thin disk Laser
Application Outlook (Revenue, USD Billion; 2019-2030)
End-Use Outlook (Revenue, USD Billion; 2019-2030)
Semiconductor & Electronics
Aerospace & Defense
Combat Vehicles Industry
Regional Analysis Covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
What is the key information extracted from the report?
Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
The report offers the present scenario and future growth prospects Market in various geographical regions.
The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
The SWOT analysis is conducted along with Porter’s Five Force analysis.
The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.
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