Jersey City, New Jersey, Sept. 08, 2022 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Laser Technology Market” By Type (Liquid Laser, YAG Laser), By Applications (Laser Processing, Optical Communication), By Industry 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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Browse in-depth TOC on “Laser Technology Market”
202 - Pages
126 – Tables
37 – Figures
Global Laser Technology Market Overview
Factors such as the rapid adoption of laser machine tools across a wide range of industries and the rising desire for cost-effectiveness, as well as new and diverse markets in laser technology, are driving up market demand. Furthermore, laser technologies have exploded in popularity in the healthcare industry. It’s used in urology, dermatology, dentistry, and ophthalmology, among other fields. Along with it, an older population improved medical infrastructure, and a rising number of cosmetic procedures are all driving sales of medical laser systems.
However, the overall market growth is being hampered by issues such as greater power consumption, burning, and difficulty cutting certain materials in the laser technology market. Regulatory compliances also act as a hindrance to the laser technology market’s growth. Additional limitations to the laser technology market include radioactive contamination created by slurry tailings, environmental dangers, rare metal depletion, and harmful acid needs during the refining process.
Key Developments
- In June 2022, Physicists at the University of Amsterdam created an atom laser that can operate indefinitely.
- In March 2022, LightWELD XR, the third product offering under IPG Photonics’ portable laser welding and cleaning product range, was launched by IPG Photonics, the world leader in fiber laser technology.
Key Players
The major players in the market 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 Communication
- Laser Processing
- Others
- Laser Technology Market, By Industry Vertical
- Commercial
- Telecommunication
- Semiconductor & Electronics
- Automotive
- Healthcare
- Others
- Laser Technology Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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