Global Laser Technology Market, By Geography, Type (Solid Laser, Liquid Laser, Gas Laser); Application (Optical Communication, Laser Processing); Vertical (Commercial, Telecommunications, Research, Aerospace and Defense, Healthcare, Automotive, Semiconductor & Electronics, Industrial) – Industry Trends and Forecast to 2024
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Global Laser Technology Marketaccounted for USD 11.57 billion in 2016 growing at a CAGR of 5.32% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic year 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Market Definition: Global Laser Technology Market
Laser technology uses light to store, transfer, or print images and text. It generates light energy by converting the energy states of a material.
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It has its wide application in telecommunications, research, aerospace and defense, healthcare, and others. Huge demand from the healthcare vertical is the major driver in the growth of laser technology market.
On the other hand, regulatory compliance may hamper the market.
Major Market Drivers: Global Laser Technology Market
- Increasing demand and awareness in the healthcare industry
- Superior alternatives over traditional material processing techniques
- Shift towards production of nano and micro devices
- Regulatory compliance for manufacturing and end-use industries
The global laser technology market is segmented on the basis of type, application, vertical and geography.
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On the basis of type the market is segmented into solid laser, liquid laser, and gas laser. The solid laser sub segment is further categorized into YAG laser, semiconductor laser, thin disk laser, ruby laser, fiber laser, and others.
The liquid laser sub segment is categorized into X-Ray laser, dye lasers, and others. Gas laser segment is further categorized into Co2 laser, excimer laser, argon laser, chemical laser, helium-neon laser, and others.
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On the basis of vertical the market is segmented into commercial, telecommunications, research, aerospace and defense, healthcare, automotive, semiconductor & electronics, industrial, and others.
Based on applications the market is segmented into optical communication, laser processing. Laser processing is further segmented into macro processing, micro processing, and advanced processing.
The macro processing segment is further sub segmented into cutting, drilling, welding, and marking & engraving. The cutting segment is further categorized into fusion cutting, flame cutting, and sublimation cutting.
The drilling segment is categorized into single pulse drilling, percussion drilling, trepanning drilling, and helical drilling.
On the basis of geography, global laser technology market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
In 2017, North America is expected to dominate the market.
The Global Laser Technology Market Report contains an in-depth profiling of the key market players, along with the recent developments (new product launches, partnerships, agreements, collaborations, and joint ventures) and strategies adopted by them to sustain and strengthen their positions in the market.
Some of the major players operating in this market are
Some of the major players of the global laser technology market are Access Laser, Alltec GmbH AMS Technologies, Bystronic Laser AG, Coherent Inc., Corning, Epilog Laser, Eurolaser GmbH, Focuslight Technologies Inc., Han’s Laser Technology Industry Group Co. Ltd., IPG Photonics Corporation, Jeanoptik AG, Keopsys Group, Lasaerstar Technologies Corp., Lumentum Holdings Inc., Novanta Inc, NPI LASERS Co., Ltd, Photonics Industries International.
Inc, Prima Industrie S.P.A., Quantel Group, Toptica Photonics AG, Trumpf Group, Universal Laser Systems Inc., Ushio Opto Semiconductors Inc., MKS Instruments, and others
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