Global Laser Technology Market Identifies the Key Drivers

Posted by ojasdbmr on January 27th, 2020

Global Laser technology market is set to witness a growing substantial CAGR of 5.68% in the forecast period of 2019 to 2026. The report contains data of the base year 2018 and historic year 2017. This rise in the market can be attributed due to the surging global demand for optical communication as well as the rising demand of infrared thermometer is contributing to the market growth.

Global laser technology market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of customer of global laser technology market for Global, Europe, North America, Asia-Pacific, South America and Middle East and Africa.

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Major Market Competitors/Players

Few of the major competitors currently working in the global laser technology market are NeoPhotonics Corporation, Applied Laser Technology, Inc., Haas Laser Technologies, Inc., JENOPTIK AG, Lumentum Operations LLC, Laser Technology, Inc., PRIMA INDUSTRIE S.p.A., BYSTRONIC, MKS Instruments, LUMIBIRD, TRUMPF, IPG Photonics Corporation, Epilog Laser, eurolaser GmbH, Focuslight Technologies Inc., Access Laser Company, Han’s Laser Technology Industry Group Co., Ltd, Novanta Inc., 600 Group PLC, Photonics Industries International. Inc., LaserStar Technologies Corporation, Coherent Inc. and Corning Incorporated among others.

Segmentation: Global Laser Technology Market

  • By Type (CO2 Laser, Fiber Laser, Solid State Laser, Other Laser)
  • By Revenue (System Revenue, Laser Revenue)
  • By Application (Laser Processing, Optical Communications, Others)
  • By End User (Telecommunications, Industrial, Semiconductor & Electronics, Commercial, Aerospace & Defense, Automotive, Medical, Research, Others)
  • By Geography(North America, South America, Europe, Asia-Pacific, Middle East and Africa)

Market Drivers:

  • There is surge in demand from the healthcare vertical which is driving the market growth
  • The laser technology is more advance over traditional technology which increases the efficiency and is propelling the market growth
  • There is a gradual shift towards the production of Nano and Micro devices
  • The rapid expansion and advancements in the various end user verticals is boosting the market growth
  • The rising incidences of surgical procedures have contributed to the growth of the market

Market Restraints:

  • The stringent regulations and compliances has hindered the market growth
  • The high cost associated with the technology and its solutions for end user verticals is restraining the market growth

Laser Technology uses light energy by transforming the energy states of a material. It is a focused beam of photon particles. There are various types of lasers such as dye lasers, excimer lasers, fiber lasers, gas lasers and solid state lasers. With the increasing expenditure on healthcare and other verticals the demand for laser technology has surged as well as there are various innovations in the technology which drives the demand for it. Laser technology is widely used in various industries such as defense, healthcare, and telecommunications, aerospace. Laser technology is widely used in surgical procedures, consumer products, and laser material processing such as drilling, engraving, and cutting and for marking a broad range of materials.

Key Insights in the report:

  • Complete and distinct analysis of the market drivers and restraints
  • Key Market players involved in this industry
  • Detailed analysis of the Market Segmentation
  • Competitive analysis of the key players involved

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Joined: October 1st, 2019
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