Solid State Laser Market Scope
The global solid state laser market is expected to grow at a moderate pace during the forecast period, according to the AMA study. Rising demand for automation in applications such as materials processing along with instrumentation & lidar and growing demand for crystal & glass based lasers are expected to be some of the major factors aiding into the growth for the market. However, the market is expected to witness a decline in the growth during FY 2020 but it is again expected to rise with a healthy pace after the COVID-19 pandemic is over.
The vendors in this market are majorly focusing on developing innovative products and solutions in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time. Research Analyst at AMA estimates that United States, Germany, China Manufacturers will contribute to the maximum growth of Global Solid State Laser market throughout the predicted period.
AMS Technologies AG (Germany), Beijing Ranley Technology CO.,Ltd. (China), Coherent, Inc. (United States), CNILaser (China), CrystaLaser (United States), InnoLas Solutions GmbH (Germany), Jenoptik AG (Germany), Lumenis (Israel), Meiman Laser (China), Northrop Grumman (United States), Photonic Solutions, Ltd. (United Kingdom), ROFIN-BAASEL Lasertech GmbH & Co KG (Germany), Vescent Photonics (United States), Wuhan Huaray Ultrafast Fiber Laser Technology Co.,Ltd. (China) and Zolix Instruments CO., LTD (China) are some of the key players that are part of study coverage.
Segmentation Overview
The study have segmented the market of Global Solid State Laser market by Type (Continuous Wave Lasers and Pulsed Solid State Lasers), by Application (Laser Pumping and Mode Locking) and Region with country level break-up.
On the basis of geography, the market of Solid State Laser 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).
Influencing Trend:
Implementation of Higher Damage Threshold Lasers in Industrial Applications
Market Growth Drivers:
Rising Demand for Applications in Materials Processing Along with Instrumentation & Lidar and Rising Demand for Glass & Crystal Based Lasers
Challenges:
Short-term Challenges due to Reduced Operations Across Different Industries & Economic Crisis caused by COVID-19 Pandemic Across the World
Restraints:
High Initial Cost
Opportunities:
Opportunities in the Asia Pacific Region and Industrial Revolution 4.0 is Expected to Create Huge Opportunities for Market Vendors During the Forecast Period
In June 2019, InnoLas Solutions, a leader in laser micromaterial processing announced that lanuch of EXPEGO Series at the Laser World of Photonics show in Munich, Germany. The EXPEGO series is a new concept in 2D applications, such as ablating, cutting or drilling operations for sub-straight sizes up to 750 mm x 750 mm or 29.5 x 29.5 Inches.
Stringent Government Regulations Regarding Lock-Down of Cities & Shutting Down of Operations Across Different Industries Across the World Due to the COVID-19 Pandemic is Impacting the Demand for Solid State Lasers
Analyst View
Since the COVID-19 virus outbreak in December 2019, the disease has spread to more than 200 countries across the world along with the World Health Organization declaring it a public health emergency. The impact of the COVID-19 has already hit many industries and will affect the solid state laser market in FY 2020. The outbreak of COVID-19 has brought effects on many aspects, like scheduled public transportation cancellations; cancelled industrial operations; downfall in the real estate sector; travel bans and quarantines; closed operations across hotels & restaurants; banning of public gatherings & events; large slow-down in the supply chain of different markets; stock market unpredictability; declining business assurance, and uncertainty in the future market dynamics.
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 the total available market.