Laser Safety Market Scope
Laser safety is basically the safe design, implementation, and use of lasers to minimize the risk of accidents caused due to laser, especially those involving with eye injuries. Relatively small amounts of the laser light can lead to permanent injuries of the eye, the usage and sale of lasers are typically subject to the government regulations. Increasing concern related to the industrial worker is driving the laser safety market, while attractive investment with safety laser for the consumer electronics in Asia Pacific region is creating an opportunity in the market. Also, there are many technological advancements in laser technology for the application of laser safety glasses in the medical field which is currently trending in the market.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Honeywell International (United States), Uvex safety (Germany), ESS (United Kingdom), Gentex (United States), Revision Military (United States), Laser Safety Industries (United States), NoIR LaserShields (United States), PerriQuest (United States), Univet Optical Technologies (Italy) and Metamaterial Technologies (Canada) |
CAGR | % |
Despite the presence of competition and brand effect problems, due to the awareness of end-users and their demand for high-end products, investors are still optimistic about this area. There will be more new investors entering into this industry in the future. The manufacturers who want to occupy the market must depend on market mechanism reform, manufacturing equipment innovation, core technology improvement, and brand establishment. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Laser Safety market throughout the predicted period.
Honeywell International (United States), Uvex safety (Germany), ESS (United Kingdom), Gentex (United States), Revision Military (United States), Laser Safety Industries (United States), NoIR LaserShields (United States), PerriQuest (United States), Univet Optical Technologies (Italy) and Metamaterial Technologies (Canada) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Thorlabs Inc (United States), Phillips Safety Products Inc (United States), Kentek Corporation (United States) and Global Laser Ltd (United Kingdom).
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.
Segmentation Overview
The study have segmented the market of Global Laser Safety market by Type , by Application (Medical, Military, Industrial, Education & Research and Others) and Region with country level break-up.
On the basis of geography, the market of Laser Safety 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).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In November 2022,Thorlabs has made an acquisition that will catapult the Newton-based company into the world of mid-infrared technology, which has applications from detecting early stages of cancer to keeping U.S. troops safe from missiles.
In February 2024, technology continuing to advance year on year, lasers are not only finding their way into new applications, but are also now available in many different configurations, including a range of handheld systems for cleaning and welding.
Influencing Trend:
Technological advancements in laser technology for the application of laser safety glasses in the medical field
Market Growth Drivers:
Rising concerns about the safety of industrial workers as well as machinery and Favorable regulations by various regional governments regarding industrial safety
Challenges:
Non-contact functionality with the object sometimes pose a challenge
Restraints:
Safety mats offering similar protective solutions
Opportunities:
Attractive investment avenues to safety laser for consumer electronics in Asia pacific
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Laser Safety products Manufacturers, Suppliers, and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries