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Laser Technology Market: Recent Market Trends and Projected Market Size by 2018 – 2023

Author: Akash Sangshetti
by Akash Sangshetti
Posted: Jun 05, 2018

Market Scenario

Companies such as Corning Incorporated (U.S.), IPG Photonics Corp. (U.S.), Micron Laser Technology (U.S.), LasaerStar Technologies Corp. (U.S.), ALT Advanced Lazer Technologies (U.K), Applied Laser Technology, Inc. (U.S.), are the leading providers of laser technology solution in the global market. The factor that drive the market growth of laser technologies is the increasing implementation of lasers in material processing applications such as cutting, welding, engraving and others. For instance, laser systems are widely used for cutting airbag cloth and composite materials in automotive sectors. In February 09, 2016, Corning Incorporated entered into a partnership agreement with Altechna R&D to develop new laser glass processing technologies. This is due to growing demand of laser processing technologies for ultra-strong, ultrathin, and ultraclean glass processing solutions.

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The growing demand for optical communication is the driving factor for the market growth of the laser technologies as it consumes lesser power for data transmission. Moreover, the increasing demand of infrared thermometer is gaining momentum in the coming years as it is widely used for measurement of temperature on any object in the industries. In December 20, 2016, Corning Incorporated has announced its new product new high-precision laser processing tool for commercial availability. This tools are designed for cutting and drilling strengthened and non-strengthened glass. Apart from glass, it is also used for crystalline materials, and processing micro materials which includes OLED, polyimide, wafers, ceramics, plastics, and others.

Segments

The global Laser Technology Market is segmented into type, application, verticals, and region. The type is segmented into solid laser, liquid laser, gas laser and others. The applications segment is sub-segmented into laser processing, laser gyroscopes, laser printers, laser scanners, laser rangefinders, laser headlights, laser security systems, optical communication and others. Furthermore, the laser processing is sub-segmented into macro processing, micro processing, advanced processing and others. The end-users segment is sub-segmented into IT & telecommunication, aerospace & defense, healthcare, automotive, and others. The market is spanned across regions including North America, Europe, Asia Pacific, and rest of the world.

The global laser technology market is expected to grow at USD ~18 billion by 2023 at a CAGR of ~6% during the forecast period 2018-2023.

Key Players:

Some of the prominent players in the global laser technology market Coherent, Inc. (U.S.), Corning Incorporated (U.S.), IPG Photonics Corp. (U.S.), Micron Laser Technology (U.S.), Trumpf Group (Germany), Laser Technology, Inc. (U.S.), Lumentum Holdings Inc. (U.S.), Haas Laser Technologies Inc. (U.S.), Jeanoptik AG (Germany), Novanta Inc. (U.S.), Quantel Group (U.K), LasaerStar Technologies Corp. (U.S.), ALT Advanced Lazer Technologies (U.K), Applied Laser Technology, Inc. (U.S.), Epilog Laser (U.S.), NeoPhotonics Corporation (U.S.), Han's Laser Technology Co., Ltd (China), MKS Instruments (U.S.), among others.

Regional Analysis

The regional analysis of laser technology market is studied for regions such as Asia Pacific (China, Japan, and India), North America (the U.S., Mexico, and Canada), Europe (the U.K, Germany) and Rest of the World. North America is one of the leading regions of the world in terms of market share. The laser technology market in this region has a huge demand due to the increasing adoption of consumer electronics devices, which is propelling the market growth to a large extent. The laser technology market in Europe is expected to witness rapid growth in the forthcoming period. Whereas, Asia Pacific countries such as China, Japan, and India is an emerging laser technology market, which is expected to grow at the highest CAGR in the coming years.

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Intended Audience

  • Laser technology companies
  • Laser technology providers
  • Technical universities
  • System integrators
  • Managed Security Service Providers
  • Professional service providers
  • Research and development companies
  • Market research and consulting firms
  • Solution providers
  • Technology standards organizations
  • Technology investors
  • System Integrators

TABLE OF CONTENTS

LIST OF TABLES

Table 1 Global Laser Technology Market: By Region, 2017-2023

Table 2 North America Laser Technology Market: By Country, 2017-2023

Table 3 Europe Laser Technology Market: By Country, 2017-2023

Table 4 Asia-Pacific Laser Technology Market: By Country, 2017-2023

Table 5 Middle East & Africa Laser Technology Market: By Country, 2017-2023

Table 6 Latin America Laser Technology Market: By Country, 2017-2023

Table 7 Global Laser Technology By Type Market: By Regions, 2017-2023

Table 8 North America Laser Technology By Type Market: By Country, 2017-2023

Table9 Europe Laser Technology By Type Market: By Country, 2017-2023

Table10 Asia-Pacific Laser Technology By Type Market: By Country, 2017-2023

Table11 Middle East & Africa Laser Technology By Type Market: By Country, 2017-2023

Table12 Latin America Laser Technology By Type Market: By Country, 2017-2023

Table13 Global Laser Technology By Verticals Market: By Regions, 2017-2023

Table13 North America Laser Technology By Verticals Market: By Country, 2017-2023

Table14 Europe Laser Technology By Verticals Market: By Country, 2017-2023

Table15 Asia-Pacific Laser Technology By Verticals Market: By Country, 2017-2023

Continued…

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Author: Akash Sangshetti

Akash Sangshetti

Member since: Dec 15, 2017
Published articles: 918

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