Technology market

The Laser Technology Market is Expected to Generate Revenue

Jersey City, New Jersey, Sept. 08, 2022 (GLOBE NEWSWIRE) — Verified Market Research recently released a report, “laser technology market” By type (liquid laser, YAG laser), by applications (laser processing, optical communication), by vertical (commercial, automotive) and by geography. According to Verified Market Research, the laser technology market size was valued at USD 14.9 billion in 2021 and is projected to reach USD 24.51 billion by 2030, growing at a CAGR of 5.98% from 2022 to 2030.

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126 – Tables

37 – Numbers

Global laser technology market overview

Factors such as the rapid adoption of laser machine tools across a wide range of industries and the growing desire for cost-efficiency, along with new and diverse markets for laser technology, are driving up the market demand. Additionally, laser technologies have exploded in popularity in the healthcare industry. It is used in urology, dermatology, dentistry and ophthalmology, among other fields. At the same time, an older population has improved medical infrastructure and an increasing number of cosmetic procedures are driving all sales of medical laser systems.

However, the overall market growth is hampered by issues such as increased power consumption, burning, and difficulty in cutting certain materials in the laser technology market. Regulatory compliances also act as a brake on the growth of the laser technology market. Additional limitations of the laser technology market include radioactive contamination created by sludge residue, environmental hazards, depletion of rare metals, and requirement for harmful acids during the refining process.

Key developments

  • In June 2022Physicists at the University of Amsterdam have created an atom laser that can operate indefinitely.
  • In March 2022LightWELD XR, the third product in IPG Photonics’ line of portable laser welding and cleaning products, has been launched by IPG Photonics, the world leader in fiber laser technology.

Key players

The main market players are IPG Photonics Corp., Coherent, Inc., Trumpf Group, Jeanoptik AG, Quantel Group, LasaerStar Technologies Corp., Novanta Inc, Lumentum Holdings Inc., Epilog Laser, Han’s Laser Technology Industry Group, MKS Instruments, GSI Group Inc., and Others.

Verified Market Research has segmented the global laser technology market on the basis of type, applications, industry vertical, and geography.

  • Laser Technology Market, By Type
    • YAG-Laser
    • liquid laser
    • gas laser
  • Laser Technology Market, By Applications
    • Optical Communications
    • laser treatment
    • Others
  • Laser Technology Market, By Vertical
    • Commercial
    • Telecommunication
    • Semiconductor and electronics
    • Automotive
    • Health care
    • Others
  • Laser Technology Market, By Geography
    • North America
    • Europe
      • Germany
      • France
      • UK
      • The rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia-Pacific
    • LINE
      • Middle East and Africa
      • Latin America

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