Laser Technology Market Scope
Laser technology refers to use of laser light to perform various operations in efficient way. This technology is used in several domains such as healthcare, telecommunication, research, aerospace, defense and other industrial operations. Laser technology, being non-evasive helps in improving complicated metal working processes, thus, being one of the major components in modern metal working system. With advancement in technology, laser will find wide applications in optical communication sytsem, which is further expected to supplement the market growth.
According to AMA, the Global Laser Technology market is expected to see growth rate of 4.8% and may see market size of USD17.2 Billion by 2026.
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Laser Technology market throughout the predicted period.
Coherent Inc (United States), Trumpf Group (Germany), Rofin-Sinar Technologies (United States), Lumentum Holdings (United States), IPG Photonics (United States), Jenoptik (United States), Novanta (United States), Lumibird (France), LaserStar (United States), Epilog Laser (United States) and MKS Instruments (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Alltec GmbH., (Germany), Prima Industrie S.p.A., (Italy), Bystronic Laser AG, (Switzerland), Toptica Photonics AG (Germany), Corning Inc., (United States) and Ams Technology (Germany).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Laser Technology market by Type (CO2 Lasers, Solid-State Lasers, Diode Lasers, Fiber Lasers, Ultrashort Pulse Lasers and Other), by Application (Welding and Cutting, Surveying, Laser Nuclear Fusion, Communication, Laser Printing, CDs and Optical discs, Spectroscopy, Heat Treatment, Barcode Scanners, Laser Cooling, Jet Engine Assembly, Jewelry Repair, Dental Implants, Tool and Die Making, 3D Marking and Others) and Region with country level break-up.
On the basis of geography, the market of Laser Technology has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
German company TRUMPF developed world’s first flexible 3D laser system recently in November 2018. This currently developed laser technology allows machines to process broad range of materials in quick span of time.
Market Trend
- High Quality Recycling with the Use of Laser Induced Breakdown Spectroscopy (LIBS)
Market Drivers
- Growing Application of Laser Technology in End-User Industry Owing to Its Indispensable Nature
- Increasing Adoption of Nano Devices Across Industry Verticals
Opportunities
- Use of Laser Technology in Optical Telecommunication
- Growing Industrial Application of Laser Technology in Emerging Countries
Restraints
- Availability of Alternative Technologies such as High definition plasma and Others Non-evasive Techniques
Challenges
- Providing Availability of Low Cost Laser Technology Solutions
Key Target Audience
Laser Technology Service Providers, Components Suppliers/Distributors, System Integrators, Potential Investors, Government Agencies, Research Institutes and Others