Dublin, Sept. 28, 2023 (GLOBE NEWSWIRE) -- The "Global Solid State Laser Market by Type (Continuous Wave Lasers, Pulsed Solid State Lasers), Application (Automotive, Communication, Data Storage) - Cumulative Impact of COVID-19, Russia Ukraine Conflict, and High Inflation - Forecast 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The Global Solid State Laser Market, valued at USD 3.27 billion in 2022, has shown impressive growth by reaching USD 3.60 billion in 2023. With a remarkable Compound Annual Growth Rate (CAGR) of 10.56%, the market is projected to soar to an estimated USD 7.32 billion by 2030.
Market Dynamics:
Drivers: The growth of the solid state laser market is fueled by the increasing use of solid-state lasers in laser marking systems, their expanding application in the aerospace and defense sector, and the rising demand for pulsed lasers in various healthcare applications.
Restraints: Challenges include the elevated cost of lasers.
Opportunities: The market presents opportunities in the growing use of 3D printing in healthcare and the augmented utilization in the field of dentistry.
Challenges: Challenges include the high initial investment requirement and competition from other laser types.
Market Segmentation & Coverage:
In-depth market research has classified the Global Solid State Laser Market into distinct segments to forecast revenues and analyze trends in the following sub-markets:
Type: The market comprises Continuous Wave Lasers and Pulsed Solid State Lasers, with Continuous Wave Lasers projected to witness significant market share growth during the forecast period.
Application: The market spans Automotive, Communication, Data Storage, Defense, Materials Processing, and Medical, with Communication projected to witness significant market share growth during the forecast period.
Region: The market extends across the Americas, Asia-Pacific, and Europe, Middle East & Africa, with the Americas leading the market, commanding a share of 38.74% in 2022, followed by Europe, Middle East & Africa.
Key Report Insights:
- Market Penetration: Comprehensive information on the market offered by key players.
- Market Development: In-depth analysis of emerging markets and penetration into mature segments.
- Market Diversification: Detailed information about new product launches, untapped geographies, recent developments, and investments.
- Market Trends: Understanding the cumulative impact of COVID-19, the Russia-Ukraine Conflict, and high inflation on market trends.
- Competitive Assessment & Intelligence: Exhaustive evaluation of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of leading players.
- Product Development & Innovation: Intelligent insights into future technologies, R&D activities, and breakthrough product developments.
The report answers key questions:
- What is the market size and forecast of the Global Solid State Laser Market?
- How are inhibiting factors and the impact of COVID-19 shaping the market during the forecast period?
- Which products/segments/applications/areas should investors consider over the forecast period?
- What is the competitive strategic window for opportunities in the market?
- What are the technology trends and regulatory frameworks influencing the market?
- What is the market share of the leading vendors?
- Which modes and strategic moves are suitable for entering the market?
Key Report Attributes:
- Number of Pages: 196
- Forecast Period: 2023 - 2030
- Estimated Market Value (USD) in 2023: USD 3.6 Billion
- Forecasted Market Value (USD) by 2030: USD 7.32 Billion
- Compound Annual Growth Rate: 10.5%
- Regions Covered: Global
Companies Mentioned
- AMS Technologies Ltd.
- Coherent Inc.
- CrystaLaser
- Daheng New Epoch Technology, Inc.
- Ekspla
- Electro Optical Components, Inc.
- Excelitas Technologies Corp.
- Jenoptik Laser GmbH
- Laserglow Technologies
- LASOS Lasertechnik GmbH
- Northrop Grumman Corporation
- Photonic Solutions Ltd.
- Photonics Industries International Inc.
- Quanta System SP
- Quantum Composers Inc.
- Shimadzu Corporation
For more information about this report visit https://www.researchandmarkets.com/r/vd7na1
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