The “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” report has been added to ResearchAndMarkets.com’s offering.
The Laser Technology Market 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.
Solid type lasers to hold the largest size of Laser technology market during forecast period
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 hold largest share of 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 dominate 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 the 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.
In 2019, some of the key laser technology market players were
Coherent, Inc. (US)
IPG Photonics Corporation (US)
Trumpf Group (Germany)
Lumentum Holdings, Inc. (US)
Jenoptik AG (Germany)
Other players the market include
Novanta, Inc. (US)
LaserStar Technologies Corporation (US)
Epilog Laser (US)
MKS Instruments, Inc. (US)
For more information about this report visit https://www.researchandmarkets.com/r/k58dc7
View source version on businesswire.com: https://www.businesswire.com/news/home/20201012005296/en/
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