Laser Technology Market – Overview
Laser technology has come to be applied in a wide range of activities that have added positively to the development of the market. Market focused reports connected to the semiconductors and electronics industry among others lately have been made available by Market Research Future which publishes reports in this industry. The market is anticipated to achieve USD 18 billion approximately in terms of revenue by 2023 while growing at a CAGR of 6 percent in the forecast period.
Laser technology has penetrated into many of the products that are being used on a daily basis. Blu-Ray, bar code scanners and DVD players are a few of the popular products that employ laser technology to a great extent. Rising demand from the manufacturing industry and surgical procedures such as LASIK have increased the demand for the development of laser technology in the recent years. Increasing demand for optical communication is the driving the progress of the laser technology market at a greater level. The sector is expected to benefit from the investment inflows from current market players as well new investors in the market throughout the forecast period.
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Laser Technology Global Market – Segmentation
The laser technology market can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
- Segmentation by Type: Solid Laser, Liquid Laser, Gas Laser among others.
- Segmentation by Application: Laser Processing, Laser Gyroscopes, Laser Printers, Laser Scanners, Laser Rangefinders, Laser Headlights, Laser Security Systems, Optical Communication and others.
- Segmentation by End – User: IT & telecommunication, aerospace & defense, healthcare, automotive, among others
- Segmentation by Regions: Geographical regions – North America, Europe, Asia Pacific and Rest of the World.
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.
Laser Technology Global Market – Regional Analysis
North America is dominating the global laser technology market with the largest market share due to increasing demand wireless laser connections, which is gaining demand in laser technology market and is expected to gain growth by 2023. Global Laser Technology market in European market is expected to grow at a substantial high CAGR during 2017 to 2023 due to increasing implementation of material processing applications in manufacturing sectors. The Asia Pacific market for laser technology market is expected to grow at a considerable CAGR (2017-2023).
Industry News:
March 6, 2018– Chief Automotive Technologies , the leading provider of computerized measuring equipment and vehicle specification data, has introduced Live Mapping system. This system is integrated with Galileo laser scanner and real-time measurements of collision-damaged vehicles.
March 14, 2018 – II‐VI Incorporated, a leader in laser components and subsystems, had announced about their product launched DirectProcess 900 direct diode laser engine with 1 kW output power and network interfaces for Industry 4.0. It is widely used in industrial materials processing application including joining, cutting and hardening, and others.
21 March 2018– Osram Opto Semiconductors GmbH and Nichia Corp had announced to expand their nitride LED and laser IP cooperation.
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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
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