The global laser technology market is expected to reach USD 18 billion at a CAGR of over 6% by the end of the forecast period.
The global laser technology market is spanned across Americas, Europe, Asia Pacific, and Rest of world. North America dominates the laser technology market is due to growing adoption of wireless laser connections, which is propelling market growth of laser technologies market to a large extent. In June 19, 2017, IPG Photonics Corporations announced its agreement to acquire Innovative Laser Technologies. This acquisition is done to provide best-in-class standardized and turnkey systems solutions to medical device industries and other customers. The turnkey solution includes customized machine engineering, laser application design, integration services and others. The company is planning to provide laser-based systems solution high-precision welding, cutting, marking, drilling, cladding, and other processing of metals.
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The North American region is experiencing a higher demand due to its new and innovative products which is widely used in the healthcare sectors. For instance, the lasers technologies are used for laser vision correction, dermatological treatment, ontogenetic, dynamic contrast-enhanced MRI, confocal microscopy, and others. The prominent companies such Applied Laser Technology, Inc. (U.S.), Epilog Laser (U.S.), NeoPhotonics Corporation (U.S.), MKS Instruments (U.S.), are providing laser technology solutions in the market. These major players are investing in producing of laser technology products and providing solution across the world.
Taste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “The Global Laser Technology Market Research Report -Forecast to 2023”.
Global Laser technology Market Segmentation
The global laser technology market is segmented into type, application, verticals, and region. The type is segmented into solid laser, liquid laser, gas laser and others. The applications segment is sub-segmented into laser processing, laser gyroscopes, laser printers, laser scanners, laser rangefinders, laser headlights, laser security systems, optical communication and others. Further, the laser processing is sub-segmented into macro processing, micro processing, advanced processing and others. The end-users segment is sub-segmented into IT & telecommunication, aerospace & defense, healthcare, automotive, and others. The market is spanned across regions including North America, Europe, Asia Pacific, and rest of the world.
The prominent players in the global laser technology market Coherent, Inc. (U.S.), Corning Incorporated (U.S.), IPG Photonics Corp. (U.S.), Micron Laser Technology (U.S.), Trumpf Group (Germany), Laser Technology, Inc. (U.S.), Lumentum Holdings Inc. (U.S.), Haas Laser Technologies Inc. (U.S.), Jeanoptik AG (Germany), Novanta Inc. (U.S.), Quantel Group (U.K), LasaerStar Technologies Corp. (U.S.), ALT Advanced Lazer Technologies (U.K), Applied Laser Technology, Inc. (U.S.), Epilog Laser (U.S.), NeoPhotonics Corporation (U.S.), Han’s Laser Technology Co., Ltd (China), MKS Instruments (U.S.), among others.
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Market Research Analysis:
The global laser technology market is consists of the Americas, Europe, Asia Pacific, and Rest of world. North America is dominating the global laser technology market. The laser technology market is witnessing a high growth as these region due to various sectors such as IT & telecommunication, aerospace & defense, healthcare, automotive, and others. Europe is projected to hold the second largest share of the laser technology market during the forecast period. It is due to the huge demand of laser technology for various applications such as cutting, welding, engraving and others. Asia Pacific is expected to witness the highest CAGR in the coming years.
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