The report "Laser Technology Market by Type (Solid, Liquid, Gas), Product (Laser, System), Application (Laser Processing, Optical Communication, Optoelectronic Devices), Vertical (Telecommunications, Industrial) and Region - Global Forecast to 2027" The global laser technology market size is estimated to be USD 16.7 billion in 2022 and is projected to reach USD 25.6 billion by 2027, at a CAGR of 8.9%. Increasing investments in R&D for developing laser-based weapons, increasing adoption of laser technology in optical communication, and growing preference of laser-based techniques for material processing across verticals such as automotive, semiconductor & electronics, and industrial are major factors driving the growth of the laser technology market. Additionally, growing adoption of smart manufacturing techniques is another key driver for the market.
Solid laser to grow at the
highest growth rate during the forecast period
Solid lasers and solid
laser-based systems find applications across various verticals such as medical
where they are used for spectroscopy and microscopy applications and automotive
where they are used for metal processing applications. They are also used in
optical transmission systems in the telecommunications industry and find
applications in the defense industry owing to their ability to meet extreme
power requirements.
System segment held the largest
share and laser segment to register the highest growth during the forecast
period
Laser engraving systems are
extensively used for the marking of aircraft parts in the aerospace vertical.
Additionally, laser engraving and marking systems are also used for development
of smart cards and unique identification cards. The applications of lasers in
the combat vehicles industry are increasing; lasers are mounted atop combat
vehicles to track and detect enemy drones and support anti-drone capabilities.
In the coming years, laser and laser systems are expected to provide support
troops with additional security against artillery, rockets, drones, mortars,
and cruise missiles.
Optical communication to
demonstrate highest growth during the forecast period
Laser technology’s low-payload
weight feature makes it suitable for space telescopes, onboard satellites, and
scientific space probe applications. In the coming years, laser technology is
expected to gain importance in space applications, especially for transmitting
large quantities of data between satellites. With increasing bandwidth
requirements and a shift to 100G transceivers, the demand for lasers in optical
communication is also growing. Laser technology devices play a vital role in
broadband communications systems, which are used as high-speed transmitters in
analog and digital fiber networks.
Medical vertical to register the
highest growth during the forecast period
Laser technology are being
extensively used in the medical vertical. The applications of laser technology
in the medical sector include flow cytometry, cell sorting, microscopy, DNA
sequencing, retinal scanning, plastic joining, metal welding, liquid processing,
precision cleaning, stent cutting, cardiac pacemaker, and catheter laser
welding systems. Optically pumped semiconductor lasers (OPSL) and diode lasers,
resulting in a continuous solid UV laser enable the use of UV in clinical and
research environments. Similarly, during the process of joining plastics in
medical applications, a sealing system is required. Lasers offer reliable
sealing in a single step, thereby increasing the adoption of laser technology
in the medical domain. Lasers are also used extensively in therapeutics.
The laser technology market in
Asia Pacific held the largest share and the market in RoW is expected to grow
significantly from 2022 to 2027
Asia Pacific is home to major
automobile companies, such as Chery (China), Honda (Japan), Toyota Motor
(Japan), Nissan (Japan), Kia Motors (South Korea), and Tata Motors (India).
These companies have increased the adoption of laser technology for multiple
operations such as welding, drilling, and cutting to improve quality and
precision and reduce turn-around time. Increasing accessibility to low-cost
laser-based satellite broadband services and the development of laser-based
innovative technologies are key factors driving the market growth in RoW.
Additionally, increasing patients suffering from ophthalmic diseases in the
region resulting in increasing demand for laser-based treatments is another
factor driving the laser technology market. The growing use of electric
vehicles in the Middle East is expected to boost the automotive industry, which,
in turn, is expected to fuel the demand for laser processing systems in the
region.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=795
Major companies operating in the
laser technology market include Coherent (US), IPG Photonics (US), Han’s Laser
(China), Jenoptik (Germany), TRUMPF (Germany), Gravotech (France), Lumentum
(US), Novanta (US), Bystronic Lasers (Switzerland), and Lumibrid (France).
About
MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B
research on 30,000 high growth niche opportunities/threats which will impact
70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers
worldwide including 80% of global Fortune 1000 companies as clients. Almost
75,000 top officers across eight industries worldwide approach
MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at
MarketsandMarkets™ are tracking global high growth markets following the
“Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with
the clients to identify new opportunities, identify most important customers,
write “Attack, avoid and defend” strategies, identify sources of incremental
revenues for both the company and its competitors. MarketsandMarkets™ now
coming up with 1,500 MicroQuadrants (Positioning top players across leaders,
emerging companies, innovators, strategic players) annually in high growth emerging
segments. MarketsandMarkets™ is determined to benefit more than 10,000
companies this year for their revenue planning and help them take their
innovations/disruptions early to the market by providing them research ahead of
the curve.
MarketsandMarkets’s flagship competitive
intelligence and market research platform, “Knowledgestore” connects over
200,000 markets and entire value chains for deeper understanding of the unmet
insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™
INC.
630 Dundee Road
Suite
430
Northbrook,
IL 60062
No comments:
Post a Comment