Major players in the Laser Technology Market are Trumpf Laser, Lumentum Operations LLC, Jenoptik AG, Novanta Photonics, Lumibird, Laser Star, Epilog Laser, Han’s Laser Technology Co., Ltd., MKS Instruments Inc.
NEW YORK, March 7, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the Laser Technology Global Market Report 2023 – https://www.reportlinker.com/p06323483/?utm_source=GNW
Gravotech Marking SAS, Lumenis Ltd., Toptica Photonics AG, Solaris Laser SA, Optotek and Medical, Alltec GmbH.
The global laser technology market grew from US$12.52 billion in 2022 to US$13.82 billion in 2023 at a compound annual growth rate (CAGR) of 10.4%. The Russia-Ukraine war has, at least in the short term, disrupted the chances of a global economic recovery from the COVID-19 pandemic. The war between these two countries has resulted in economic sanctions against several countries, a surge in commodity prices and supply chain disruptions, leading to inflation in goods and services and hitting many markets around the world. The laser technology market is expected to grow to $20.11 billion by 2027 at a CAGR of 9.8%.
The laser technology market consists of sales of gas lasers, solid state lasers, fiber lasers, dye lasers and semiconductor lasers. Values in this market are “factory” values, ie the value of goods sold by manufacturers or creators of goods either to other companies (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes the related services sold by the creators of the goods.
Laser technology refers to a device that emits light through a method of optical amplification based on the stimulated emission of electromagnetic radiation. It is a narrow beam of concentrated light created by a special machine.
It was used for cutting very hard materials and in many technical fields such as surgery and telecommunications. It is used to obtain highly accurate results when measuring small and large distances.
Asia Pacific was the largest region in the laser technology market in 2022. North America is projected to be the fastest growing region during the forecast period.
Regions covered in Laser Technology market report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of laser technology are solid state lasers, liquid lasers and gas lasers. Liquid lasers are optically pumped lasers in which the gain medium is liquid at room temperature.
The applications of laser technology include laser processing, optical communication and other applications. The various end users of laser technology include telecommunications, industrial, semiconductor and electronics, commercial, aerospace and defense, automotive, medical, research and other end users.
Increasing usage of consumer electronics devices is expected to drive the growth of laser technology market in the future. Consumer electronics refers to electronic devices such as smartphones, televisions and computers.
Laser technology helps provide innovative solutions for manufacturing consumer electronics. For example, according to The Economic Times, an Indian business newspaper, India has the highest mobile data consumption rate in the world at 12 gigabytes or GB per user per month in October 2021, and the country is adding 25 million new smartphone users every quarter.
Therefore, the increased usage of consumer electronics devices is expected to boost the demand for laser technology solutions over the forecast period.
Strategic collaborations are an important trend that is gaining popularity in the laser technology market. Companies operating in the field of laser technology enter into partnerships in order to improve their new product development activities through the mutual exchange of technologies and to strengthen their market position.
For example, in February 2022, Trumpf, a Germany-based laser technology company, partnered with Marvel Fusion, a Germany-based startup developing a revolutionary fusion technique based on CPA (chirped pulse amplification) lasers. This collaboration is intended to accelerate the development of their revolutionary fusion technology.
Additionally, in March 2022, Tematys, a Scotland-based laser technology company, partnered with Chromacity, a UK-based manufacturer of compact femtosecond laser solutions and tunable optical parametric oscillators. This collaboration hopes to increase sales of its “ultra-fast” technology to industrial companies in France.
In January 2021, TRUMPF, a Germany-based industrial machinery manufacturer, acquired an 80% stake in Active Fiber Systems GmbH (AFS) for an undisclosed amount. With this takeover, TRUMPF plans to keep the AFS location in Jena and to build on it the independent position of the research-driven company as the majority shareholder after the takeover is complete.
AFS is a Germany-based company that develops and manufactures ultrafast laser systems and fiber laser systems, which are mainly used in science and research.
The countries covered in Laser Technology Market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and the US.
Market value is defined as the revenue earned by businesses from the sale of goods and/or services within the specified market and region through sales, grants or donations in currency (in USD unless otherwise noted).
The revenue for a specific region are consumption values, which are revenue generated by organizations in the specific region within the market, regardless of where they are produced. Proceeds from resales down the supply chain, either further down the supply chain or as part of other products, are not included.
The Laser Technology market research report is one of a series of new reports that provide Laser Technology market statistics, including global Laser Technology industry market size, regional shares, competitors with Laser Technology market share, detailed Laser Technology market segments, market trends and opportunities, and all further data, you may need to succeed in the laser technology industry. This Laser Technology market research report provides a complete overview of everything you need with an in-depth analysis of the current and future scenario of the industry.
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