The report "Laser Technology Market by
Type (Solid, Liquid, Gas and Others), Revenue (Laser Revenue and System
Revenue), Application (Laser Processing and Optical Communications), End User,
Geography – Global Forecast to 2025", size is expected to grow
from USD 11.7 billion in 2020 to USD 17.6 billion by 2025, at a CAGR of 8.6%.
Increasing demand from healthcare vertical and Better performance of lasers
over traditional material processing techniques are the key factors driving the
growth of the Laser technology market.
Market solid type lasers to dominate during
2020–2025
The market for solid
lasers accounted for the largest size in 2019. A solid laser is the one that
consists of an active medium in the solid form. The active medium in a solid
laser comprises a glass or crystalline host material, which is later doped
using rare earth materials, such as neodymium, chromium, erbium, or ytterbium.
Solid lasers use a solid material as the active medium, and the upper energy
levels of ions are without any radiation; however, when the energy transition
takes place, the metastable upper laser level is reached. This is the point where
emission occurs, resulting in lasing. Solid lasers prevent the wastage of
materials in the active medium and produce both continuous and pulsed output at
a higher efficiency than He-Ne and argon lasers by about 2% to 3%.
System revenue to dominate Laser technology
market, in 2020
The market for
system revenue is estimated to account for a larger share of the overall laser
technology market, in 2019. System revenue covers the revenue generated from
the sales of several types of laser systems for marking & engraving,
welding & brazing, cutting & scribing, drilling, cladding &
coating, annealing, and material removal, and other multi-function laser
systems. The ability of these systems to perform a wide range of functions
expands their utility across several verticals, such as industrial, commercial,
automotive, and medical.
APAC to hold largest share of laser technology
market in 2019
In terms of value,
APAC led the laser technology market in 2019, accounting for the largest share
of the overall laser technology market, by region. The major countries
contributing to the laser technology market in APAC include China, Taiwan,
Japan, South Korea, Malaysia, Indonesia, Australia, Myanmar, Bangladesh, and
India. APAC has been ahead in terms of adoption of laser technology products
and solutions compared with other regions. The region’s increasing R&D
investments, and growing manufacturing and electronics sectors are expected to
drive the growth of the laser technology market.
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Coherent (US), IPG
Photonics (US), Trumpf (Germany), Lumentum (US), Jenoptik (Germany), Novanta
(US), Lumibird (France), Laser Star (US), Epilog Laser (US), Han’s Laser
(China), MKS Instruments (US), Gravotech (France), 600 Group (UK), Eurolasers
(Germany), Bystronic Lasers (Switzerland), Toptica Photonics (Germany),
Photonics Industries (US), Focuslight Technologies (China), Corning
Incorporated (US), and Access Lasers (US) are a few major companies
dominating the Wireless gas detection market.
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