The laser is a device that transmits light within a process of optical amplification based on the stimulated emission of electromagnetic radiation. The laser differs from other sources of light in that it emits light coherently, spatially and temporally. The spatial coherence concedes a laser to be targetted to a rigid spot and enabling applications such as laser cutting and lithography. Spatial coherence allows a laser beam to halt narrow over long distances, which helps in enabling applications such as laser pointers. Lasers can also have high temporal coherence, which allows them to transmit light with a very narrow spectrum.

Global Laser Technology Market Segments Size & Growth:

Global Laser Technology Market size is projected to reach approximately $16.88 billion by the end of 2024 with a CAGR of close to 5.41% from $11.25 billion in 2017 during the forecast timeline 2018-2024. Key parameters promoting the market growth include technological advancements, the constancy of laser prices, substitution towards nano and microdevices, increasing performance over traditional material processing techniques, and enormous demand from healthcare vertical. However, higher power consumption, burning and difficulty in cutting certain materials in the material processing market, and regulatory compliance. Various opportunities for laser technology market include mainstream adoption of laser technology by different verticals for quality check and increasing usage of laser for optical communication.

Global Laser Technology Market Segments Share:

Global Laser Technology Market is categorised into a type which comprises solid lasers, liquid lasers, and gas lasers. The solid lasers segment is further categorised into YAG laser, a semiconductor laser, thin disk laser, a ruby laser, and fibre laser. The liquid lasers segment is further categorised into X-Ray laser, and dye lasers. The gas lasers segment is categorised into Co2 laser, excimer laser, argon laser, chemical laser, and helium-neon laser. Solid lasers are anticipated to hold the largest share in the market due to the ability of the solid laser to prevent material wastage when in the active medium and produce both the continuous and fluctuated output at a higher efficiency. Additionally, solid lasers are used in applications such as drilling holes in metals and endoscopy. By applications, the market is categorised into optical communication, material processing, marketing & engraving, microprocessing, and others. Among them, the optical communication segment is projected to hold the largest share in the market during the forecast period. Factors that are propelling the growth of the segment include the high usage in the high-speed transmission of data in digital and analogue fibre-optic networks, which makes it applicable for the optical communication. By end-users, the market is segmented into automotive, medical & healthcare, military, industrial, commercial, sensor & instrumentation, communication, and others. Among them, the commercial segment is expected to account for the largest share in the market because of increased usage of laser technology in laser projectors, smart card, signage devices, printers, awards and gifts modelling, and barcode marking.

By Geography, Asia Pacific is estimated to hold the largest share in the market during the forecast period. The factors that are boosting the growth of the market can be attributed to the increasing demand for cost-effective and fast processing laser machine tools from the semiconductor, industrial, telecommunication, and automotive vertical, cost advantages and initiatives by different countries in this region are expected to boost the domestic manufacturing and provide further force for the growth of the laser technology market.

Global Laser Technology Market Trends:

Corning Incorporated has announced the launch of commercial availability of a new high-precision laser processing tool ideal for research and development and high-volume manufacturing.

Coherent Inc has offered to sell a unit to allay EU competition concerns over its $942 million bid for laser manufacturer Rofin-Sinar Technologies Inc.

Global Laser Technology Market Research Report:

An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.

To have complete market analysis, industry value chain analysis, Porter's Five Force Analysis, PESTLE, SWOT analysis, and Y-o-Y analysis were carried to understand the market more comprehensively.

Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year

Identifying DROC in the current market and their impact in altering the market dynamics.

Competitive landscape analysis to identify the mergers and acquisitions which will have a comparative financial analysis with major competitors.

Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.

The major market players, such as

Coherent, Inc.

Corning Inc.

Cymer Inc.

Frankfurt Laser Company

IPG Photonics Corporation

Along with these companies, there were many other companies considered/cited in the report while analysing the global laser technology market. These companies hold substantial share-owning to the nature of the industry whereas rest of the market shares are marginal chunks to regional and local level manufacturers. Other players have considerable presence owing to its robust brand image, geographical reach and strong customer base.