As per the GMI Research’s latest analysis, Global Laser Technology Market reveals that the market is slated to register a higher CAGR over the forecast period. This is attributed to the growing application of laser technology in dermatology, cosmetic surgery, and ophthalmology, followed by the strong demand for laser technology in the healthcare industry for achieving accuracy and precision in surgical procedures.
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Laser Technology Market’s leading Manufacturers:
- Coherent, Inc.
- IPG Photonics Corporation
- TRUMPF Group
- Lumentum Operations LLC
- Jenoptik Group
- Novanta Inc.
- Lumibird
- Laser Star Technologies Corporation
- Epilog Laser
- Han’s Laser Technology Industry Group Co., Ltd
Laser Technology Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
Key Drivers
The global laser technology market is predicted to witness an upsurge in demand during the forecast period due to the growing application of laser technology in dermatology, urology, cosmetic surgery, dentistry, and ophthalmology, followed by the strong demand for laser technology in the healthcare industry for achieving accuracy and precision in surgical procedures. Moreover, the strong demand for laser technology for material processing and the rising production of micro and Nano devices will further surge the growth of the laser technology market size.
The rising usage of laser technology for optional communications due to its high-speed transmission of data in digital and analog fiber optic networks will further propel the growth of the market in the coming years. In addition to this, the wide use of laser technology in the defense and security industry for the R & D of laser-based weapon systems and plasma-based weapon systems will have a positive influence on the laser technology market over the coming years. On the other hand, the factors hindering the growth of the market include higher power consumption, high deployment cost, radioactive pollution, and limited personnel with needed technical professionals in laser technology will hinder the growth of the market.
Type Segment Drivers
Based on the type, the market is segmented into liquid, gas, solid, and others. The solid type is projected to witness a higher CAGR over the forecast period due to its increased effectiveness than gas lasers, economic cast, simple construction, and low wasting of material in the active medium. In addition to this, the large usage of solid-state lasers in several applications, such as eye surgery, metal processing, environmental instrumentation measurements, red–green–blue (RGB) light sources in laser printers and projectors, and optical transmission systems will further pay the way for the growth of the laser technology market.
Laser Technology Market Segmentation:
Segmentation by Type:
- Solid Laser
- Liquid Laser
- Gas Laser
- Others
Segmentation by Revenue:
- System Revenue
- Laser Revenue
Segmentation by Application:
- Laser Processing
- Macroprocessing
- Cutting
- Drilling
- Welding
- Marking and Engraving
- Microprocessing
- Advance Processing
- Macroprocessing
- Optical Communications
- Others
Segmentation by End-Use Industry:
- Telecommunication
- Industrial
- Semiconductor & Electronics
- Commercial
- Aerospace & Defence
- Automotive
- Medical
- Research
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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