Laser Technology Market by Type (Carbon Dioxide Laser, Fiber Laser, and Solid State Laser), Revenue (Laser Revenue and System Revenue), Application (Laser Processing and Optical Communications), End User, Geography – Global Forecast to 2024
[178 Pages Report] The overall laser technology market is expected to grow from USD 12.9 billion in 2018 to USD 16.9 billion by 2024, at a CAGR of 4.65%. Huge demand from the healthcare vertical, enhanced performance over traditional material processing techniques, and shift toward production of nano and micro devices are the key factors driving the growth of this market.
CO2 laser to hold largest share of laser technology market in 2018
CO2 laser type accounts for the largest share of the market. The leading position, in terms of market size, of CO2 laser can be attributed to its considerably compact sized for a sealed laser, suitability for a wide range of wavelengths, and utility in laser cutting, welding, structuring, perforating, drilling, and laser marking applications. A CO2 laser is a continuous wave laser of high power, which has a wide range of commercial, industrial, and military applications.
Market for system revenue to hold larger share of laser technology market in 2018
The market for system revenue accounts for the larger share of the market. The leading position, in terms of market size, of the system revenue segment can be attributed to the ability of the systems in performing a wide range of functions, which expands their utility across several verticals, such as industrial, commercial, automotive, and medical. System revenue covers the revenue generated from the sales of several types of laser systems, such as systems for marking & engraving, welding & brazing, cutting & scribing, drilling, cladding & coating, annealing, material removal, and other multi-function laser systems.
Laser processing application to hold largest share of laser technology market in 2018
Laser processing application accounts for the largest share of the market. The leading position of laser processing, in terms of market size, can be attributed to its ability to provide better quality and reliability and more precise output than conventional mechanical methods. Laser processing involves using laser for applications such as materials processing, micro processing, and advanced processing.
Telecommunications end-user vertical to lead laser technology market during forecast period
The telecommunications end-user vertical accounts for the largest share of the market. The leading position of this vertical, in terms of market size, can be attributed to laser technology’s ability to enable faster and secure data transmission, while consuming low power. Laser communications not only provides high data transfer rates with low power consumption but is also a highly secure medium for data transmission. Apart from data transmission, in the telecommunications vertical, laser technology is also used for tasks such as signal strength optimization, precise network design, and proper tower placement.
Market in APAC expected to grow at significant rate during 2018–2023
Continuous demand for cost-effective and fast processing laser machine tools from semiconductor, automotive, industrial, and telecommunications verticals are expected to drive the growth of the laser technology market in APAC. APAC has been ahead in terms of adoption of laser technology products and solutions compared to other regions. The region’s huge population, increasing R&D investments, and growing manufacturing and electronics sectors are expected to drive the growth of the market.
Key Market Players
A few major companies in the laser technology market are: Coherent (US), IPG Photonics (US), Trumpf (Germany), Lumentum (US), Jenoptik (US), Novanta (US), Lumibird (France), LaserStar (US), Epilog Laser (US), and MKS Instruments (US). Organic growth strategies, such as product launches, is a focus of many of the above.
Prominent players have adopted product launches, followed by mergers & acquisitions, as the key business strategy to strengthen their positions in the laser technology market. For instance, in November 2017, Coherent (US) launched the Total Power Control, a laser having application in multiphoton excitation (MPE) microscopy. Based on acousto-optic (AO) technology, this laser enables high-power output and modulation on tunable femtosecond output.
Major Market Developments
- In October 2018, Trumpf (Germany) launched the TruLaser Cell 7040, a 3D laser system that can be used for cutting and welding application in 2D or 3D.
- In May 2018, Coherent (US) acquired O.R. Lasertechnologie, a German laser technology provider, enabling it to enhance its laser technology product portfolio.
- In December 2017, IPG Photonics (US) acquired Laser Depth Dynamics, a Canadian laser technology solutions provider, enhancing its laser product portfolio for welding applications.
Key questions addressed by the report
- Where will all these developments take the industry in the mid to long term?
- What are the upcoming trends in the market?
- What are the opportunities for the players present now, and those planning to enter at various stages of the value chain?
- How will the inorganic growth strategies implemented by key players impact the growth of the market, and who will have the undue advantage?
- What are the emerging industrial applications of laser?
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Table of Contents
1 Introduction (Page No. - 19)
1.1 Study Objectives
1.2 Definition
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Geographic Scope
1.3.3 Years Considered
1.4 Currency
1.5 Limitations
1.6 Stakeholders
2 Research Methodology (Page No. - 23)
2.1 Introduction
2.1.1 Secondary and Primary Research
2.1.1.1 Key Industry Insights
2.1.2 Secondary Data
2.1.2.1 List of Major Secondary Sources
2.1.2.2 Secondary Sources
2.1.3 Primary Data
2.1.3.1 Primary Interviews With Experts
2.1.3.2 Breakdown of Primaries
2.1.3.3 Primary Sources
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.1.1 Approach for Bottom-Up Analysis (Demand Side)
2.2.2 Top-Down Approach
2.2.2.1 Approach for Top-Down Analysis (Supply Side)
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions
3 Executive Summary (Page No. - 34)
4 Premium Insights (Page No. - 39)
4.1 Attractive Opportunities in Market
4.2 Market in APAC, By Country and End User
4.3 Market, By Revenue
4.4 Market, By Type
4.5 Market, By Application
4.6 Market, By End User
4.7 Market, By Country
5 Market Overview (Page No. - 44)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand From Healthcare Vertical
5.2.1.2 Enhanced Performance of Lasers Over Traditional Material Processing Techniques
5.2.1.3 Shift Toward Production of Nano and Micro Devices
5.2.2 Restraints
5.2.2.1 Regulatory Compliance
5.2.3 Opportunities
5.2.3.1 Adoption of Laser Technology in Various Verticals for Quality Check
5.2.3.2 Increasing Use of Lasers for Optical Communications
5.2.4 Challenges
5.2.4.1 Requirement for Low-Cost Solutions
5.3 Value Chain Analysis
6 Laser Technology Market, By Type (Page No. - 51)
6.1 Introduction
6.2 CO2 Laser
6.2.1 Wide Range of Commercial, Industrial, and Military Applications Drives Demand for CO2 Laser
6.3 Fiber Laser
6.3.1 Features Such as High Output Power, Flexible Fiber Light, Compact Size, and High Optical Quality Drive Demand for Fiber Laser
6.4 Solid State Laser
6.4.1 Yag Laser
6.4.1.1 High Thermal Conductivity Makes Yag Laser Suitable for Several Applications
6.4.2 Semiconductor Laser
6.4.2.1 Semiconductor Laser is Compact, Making It Suitable for Several Applications
6.4.3 Thin Disk Laser
6.4.3.1 Ability to Generate High Peak Power in Picosecond Pulses Boosts This Type’s Demand
6.4.4 Ruby Laser
6.4.4.1 Applications Such as Pigmented Lesions, Hair, Tattoo Removal and Melasma Treatment Boost Its Demand
6.5 Other Laser
6.5.1 X-Ray Laser
6.5.1.1 Applications Such as in Dense Plasmas, X-Ray Microscopy, Medical Imaging, Aerospace & Defense, and Surface Research Boost Its Demand
6.5.2 Dye Laser
6.5.2.1 Several Applications in Healthcare Vertical Support Its Growing Demand
6.5.3 Excimer Laser
6.5.3.1 Ability of Excimer Laser to Generate Light Pulses of Various Wavelengths Drives Its Demand
6.5.4 Argon Laser
6.5.4.1 Ability to Generate Discrete Laser Lines Or Wavelengths Boosts Its Demand
6.5.5 Chemical Laser
6.5.5.1 Chemical Lasers Have Significant Applications in Aerospace & Defense
6.5.6 Helium-Neon Laser
6.5.6.1 Ability to Produce Various Wavelengths Boosts Its Demand
7 Laser Technology Market, By Revenue (Page No. - 64)
7.1 Introduction
7.2 System Revenue
7.2.1 Applications in Several Verticals, Such as Industrial, Commercial, Automotive, and Medical, to Drive System Revenue
7.3 Laser Revenue
7.3.1 Revenue Generated From Sales of Several Types of Lasers Drives Laser Revenue Segment
8 Laser Technology Market, By Application (Page No. - 68)
8.1 Introduction
8.2 Laser Processing
8.2.1 Macro Processing
8.2.1.1 Cutting
8.2.1.1.1 Fusion Cutting
8.2.1.1.1.1 Metals and Fusible Materials Cutting Drives Demand for Laser for Fusion Cutting
8.2.1.1.2 Flame Cutting
8.2.1.1.2.1 Suitability for Cutting Flat Sheets, Mild Steel, and Plates With High Thickness Drives Demand for Laser for Flame Cutting
8.2.1.1.3 Sublimation Cutting
8.2.1.1.3.1 Ability to Cut Material With Low Melting Point Boosts Demand of Lasers for Sublimation Cutting
8.2.1.2 Drilling
8.2.1.2.1 Single Pulse Drilling
8.2.1.2.1.1 Ability to Drill Various Sizes in 3d Surface Materials Drives Demand for Lasers for Single Pulse Drilling
8.2.1.2.2 Percussion Drilling
8.2.1.2.2.1 Ability to Drill Shorter-Diameter Holes Boots Demand for Lasers for Percussion Drilling
8.2.1.2.3 Trepanning Drilling
8.2.1.2.3.1 Usage of Trepanning Drilling Where the Laser Beam Diameter is Much Smaller Than the Hole Diameter Drives Its Demand
8.2.1.2.4 Helical Drilling
8.2.1.2.4.1 Usage of Helical Drilling for Producing Large and Deep Holes Drives Its Demand
8.2.1.3 Welding
8.2.1.3.1 Benefits in Terms of High Processing Welding Speeds, Thin and Small Weld Seams, Low Thermal Distortion, and No Tool Distortion Drive Demand for Lasers for Welding
8.2.1.4 Marking and Engraving
8.2.1.4.1 Suitability for Several Applications, Such as Printing, Hot-Branding, and Laser Bonding, Boosts Demand for Laser for Marking and Engraving
8.2.2 Micro Processing
8.2.2.1 Major Applications of Laser Micro Processing Include Printed Circuit Board (Pcb) Layouts, Semiconductor Lithography, and Micromachining Parts
8.2.3 Advanced Processing
8.2.3.1 Use of Laser for Laser Deposition Technology Drives Demand for Advanced Processing
8.3 Optical Communications
8.3.1 Laser Technology Devices are Extensively Used as High-Speed Transmitters in Analog and Digital Fiber Networks
8.4 Others
8.4.1 “Other Laser” has Applications in Several Verticals, Including Commercial, Industrial, Aerospace & Defense, and Automotive
9 Laser Technology Market, By End User (Page No. - 76)
9.1 Introduction
9.2 Telecommunications
9.2.1 Telecommunications Vertical Accounted for Largest Market Share in 2017
9.3 Industrial
9.3.1 Expanding Applications in Manufacturing Expected to Drive Growth of Industrial End-User Vertical
9.4 Semiconductor & Electronics
9.4.1 Memory
9.4.1.1 Light-Based Memory Chips Expected to Drive Demand for Lasers in Memory Chips
9.4.2 Microprocessors
9.4.2.1 Tiny Lasers Fabricated on Silicon Will Drive Demand for Lasers in Microprocessors
9.4.3 Integrated Circuit
9.4.3.1 Photonic Integrated Circuits to Boost Demand for Lasers in Integrated Circuits
9.5 Commercial
9.5.1 Smartcard Marking is A Major Commercial Application of Laser Technology
9.6 Aerospace & Defense
9.6.1 Aerospace Industry
9.6.1.1 Lasers Find Application in Aircraft Manufacturing for Cutting Engineered Parts
9.6.2 Missile Industry
9.6.2.1 Lasers are Used in Semi-Active Laser Homing Missile Technology
9.6.3 Space Industry
9.6.3.1 Ability to Travel in Space Without Any Corruption Drives Laser’s Demand
9.6.4 Combat Vehicle Industry
9.6.4.1 Possible Additional Security Features Achievable Through Laser Drive Its Demand
9.6.5 Ammunition & Weapon Industry
9.6.5.1 Utilization in Laser Guns to Boost Its Demand
9.7 Automotive
9.7.1 Solid State Laser and Fiber Laser are Commonly Used in Automotive Vertical
9.8 Medical
9.8.1 Accuracy and Precision Achievable Through Laser Drive Its Demand in Medical End-User Vertical
9.9 Research
9.9.1 Spectroscopy, Atmospheric Remote Sensing, Seismology, and Atmospheric Physics are Some of Major Applications of Laser in Research End-User Vertical
9.10 Others
9.10.1 Oil & Gas, Iron & Steel, Tobacco, Glass, Wood, Retail, and Plastic End-User Verticals Comprise Others Segment
10 Geographic Analysis (Page No. - 103)
10.1 Introduction
10.2 North America
10.2.1 US
10.2.1.1 US Held Largest Share of Market in North America
10.2.2 Canada
10.2.2.1 Market in Canada Expected to Witness Highest CAGR in North America
10.2.3 Mexico
10.2.3.1 Increasing Adoption of Laser Technology in Automotive Vertical to Drive Demand
10.3 Europe
10.3.1 Germany
10.3.1.1 Germany Held Largest Share of Market in Europe
in 2017 112
10.3.2 France
10.3.2.1 Presence of Prominent Automotive, Telecom, Aerospace & Defense, and Medical Companies to Drive Demand for Laser Technology
10.3.3 The UK
10.3.3.1 Technological Developments in Electronics Bringing Significant Changes in Almost All Verticals
10.3.4 Rest of Europe
10.3.4.1 Market in RoE Expected to Witness Highest CAGR in Europe
10.4 Asia Pacific
10.4.1 China
10.4.1.1 China Held Largest Share of Market in APAC in 2017
10.4.2 Japan
10.4.2.1 Undergoing Rapid Industrialization and Modernization Expected to Boost Demand for Laser in the Country
10.4.3 India
10.4.3.1 Market in India Expected to Witness Highest CAGR in APAC
10.4.4 South Korea
10.4.4.1 Electronics and Automotive Verticals to Drive Demand for Laser Technology in the Country
10.4.5 Rest of APAC
10.4.5.1 Growth in Manufacturing Activities to Drive Demand for Laser Technology in the Region
10.5 Rest of the World
10.5.1 Middle East and Africa (MEA)
10.5.1.1 MEA Held Larger Share of Market in RoW
10.5.2 South America
10.5.2.1 Market in South America Expected to Grow at Higher CAGR in RoW
11 Competitive Landscape (Page No. - 121)
11.1 Introduction
11.2 Ranking Analysis of Market Players
11.3 Competitive Scenario
11.3.1 Contracts/Partnerships/Agreements/Collaboration
11.3.2 Expansions
11.3.3 Mergers/Acquisitions
11.3.4 Product Launches
12 Company Profiles (Page No. - 132)
12.1 Key Players
(Business Overview, Products Offered, Recent Developments, MnM View, SWOT Analysis)*
12.1.1 Coherent
12.1.2 IPG Photonics
12.1.3 Trumpf
12.1.4 Lumentum
12.1.5 Jenoptik
12.1.6 Novanta
12.1.7 Lumibird
12.1.8 Laserstar
12.1.9 Epilog Laser
12.1.10 MKS Instruments
12.2 Other Companies
12.2.1 600 Group
12.2.2 Han's Laser Technology
12.2.3 EuRoLAser
12.2.4 Bystronic Laser
12.2.5 Toptica Photonics
12.2.6 Photonics Industries
12.2.7 Focuslight Technologies
12.2.8 Corning Incorporated
12.2.9 Access Laser
12.2.10 Prima Industrie
*Business Overview, Products Offered, Recent Developments, MnM View, SWOT Analysis Might Not Be Captured in Case of Unlisted Companies.
13 Appendix (Page No. - 172)
13.1 Insights of Industry Experts
13.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
13.4 Available Customizations
13.5 Related Reports
13.6 Author Details
List of Tables (65 Tables)
Table 1 Market, By Laser Type, 2015–2024 (USD Billion)
Table 2 CO2 Laser Technology Market, By Revenue, 2015–2024 (USD Billion)
Table 3 CO2 Market, By End User, 2015–2024 (USD Billion)
Table 4 CO2 Laser Technology Market, By Application, 2015–2024 (USD Billion)
Table 5 Fiber Laser Technology Market, By Revenue, 2015–2024 (USD Billion)
Table 6 Fiber Market, By End User, 2015–2024 (USD Billion)
Table 7 Fiber Laser Technology Market, By Application, 2015–2024 (USD Billion)
Table 8 Solid State Laser Technology Market, By Revenue, 2015–2024 (USD Billion)
Table 9 Solid State Market, By End User, 2015–2024 (USD Billion)
Table 10 Solid State Laser Technology Market, By Application, 2015–2024 (USD Billion)
Table 11 Other Laser Technology Market, By Revenue, 2015–2024 (USD Billion)
Table 12 Other Market, By End User, 2015–2024 (USD Billion)
Table 13 Other Laser Technology Market, By Application, 2015–2024 (USD Billion)
Table 14 Market, By Revenue, 2015–2024 (USD Billion)
Table 15 Market for System Revenue, By Laser Type, 2015–2024 (USD Billion)
Table 16 Market for Laser Revenue, By Laser Type, 2015–2024 (USD Billion)
Table 17 Market, By Application, 2015–2024 (USD Billion)
Table 18 Market for Laser Processing, By Laser Type, 2015–2024 (USD Billion)
Table 19 Optical Communications for Market, By Laser Type, 2015–2024 (USD Billion)
Table 20 Other Application for Market, By Laser Type, 2015–2024 (USD Billion)
Table 21 Market, By Application, 2015–2024 (USD Billion)
Table 22 Market for Telecommunications, By Laser Type, 2015–2024 (USD Billion)
Table 23 Market for Telecommunications, By Region, 2015–2024 (USD Billion)
Table 24 Market for Telecommunications, By APAC Countries, 2015–2024 (USD Billion)
Table 25 Market for Telecommunications, By North American Countries, 2015–2024 (USD Billion)
Table 26 Market for Telecommunications, By European Countries, 2015–2024 (USD Billion)
Table 27 Market for Telecommunications, By RoW, 2015–2024 (USD Billion)
Table 28 Market for Industrial, By Laser Type, 2015–2024 (USD Billion)
Table 29 Market for Industrial, By Region, 2015–2024 (USD Billion)
Table 30 Market for Industrial, By APAC Countries, 2015–2024 (USD Billion)
Table 31 Market for Industrial, By North American Countries, 2015–2024 (USD Billion)
Table 32 Market for Industrial, By European Countries, 2015–2024 (USD Billion)
Table 33 Market for Industrial, By RoW, 2015–2024 (USD Billion)
Table 34 Market for Semiconductor & Electronics, By Laser Type, 2015–2024 (USD Billion)
Table 35 Market for Semiconductor & Electronics, By Region, 2015–2024 (USD Billion)
Table 36 Market for Semiconductor & Electronics, By APAC Countries, 2015–2024 (USD Billion)
Table 37 Market for Semiconductor & Electronics, By North American Countries, 2015–2024 (USD Billion)
Table 38 Market for Semiconductor & Electronics, By European Countries, 2015–2024 (USD Billion)
Table 39 Market for Semiconductor & Electronics, By RoW, 2015–2024 (USD Billion)
Table 40 Market for Commercial, By Laser Type, 2015–2024 (USD Billion)
Table 41 Market for Commercial, By Region, 2015–2024 (USD Billion)
Table 42 Market for Aerospace & Defense, By Laser Type, 2015–2024 (USD Billion)
Table 43 Market for Aerospace & Defense, By Region, 2015–2024 (USD Billion)
Table 44 Market for Automotive, By Laser Type, 2015–2024 (USD Billion)
Table 45 Market for Automotive, By Region, 2015–2024 (USD Billion)
Table 46 Market for Medical, By Laser Type, 2015–2024 (USD Billion)
Table 47 Market for Medical, By Region, 2015–2024 (USD Billion)
Table 48 Market for Research, By Laser Type, 2015–2024 (USD Billion)
Table 49 Market for Research, By Region, 2015–2024 (USD Billion)
Table 50 Market for Others, By Laser Type, 2015–2024 (USD Billion)
Table 51 Laser Technology Market, By Region for Others, 2015–2024 (USD Billion)
Table 52 Market, By Region, 2015–2024 (USD Billion )
Table 53 Market in North America, By Country, 2015–2024 (USD Billion )
Table 54 Market in North America, By End User, 2015–2024 (USD Billion )
Table 55 Market in Europe, By Country, 2015–2024 (USD Billion )
Table 56 Market in Europe, By End User, 2015–2024 (USD Billion )
Table 57 Market in APAC, By Country, 2015–2024 (USD Billion )
Table 58 Market in APAC, By End User, 2015–2024 (USD Billion )
Table 59 Market in RoW, By Region, 2015–2024 (USD Billion )
Table 60 Market in RoW, By End User, 2015–2024 (USD Billion )
Table 61 Top Laser Technology Market Players in 2017
Table 62 Contracts/Partnerships/Agreements/Collaboration, 2016–2018
Table 63 Expansions, 2016–2018
Table 64 Mergers/Acquisitions, 2016–2018
Table 65 Product Launches 2016–2018
List of Figures (60 Figures)
Figure 1 Market: Research Design
Figure 2 Market Size Estimation Methodology: Bottom-Up Approach
Figure 3 Market Size Estimation Methodology: Top-Down Approach
Figure 4 Assumptions for the Research Study
Figure 5 Global Laser Technology Market (USD Billion )
Figure 6 Telecommunications Held Largest Share of Market in 2017
Figure 7 CO2 Laser Held Largest Share of Market in 2017, By Type
Figure 8 System Revenue to Hold Larger Share of Market During Forecast Period, By Revenue
Figure 9 Laser Processing Held Largest Share of Market in 2017, By Application
Figure 10 Market, By Region, 2017
Figure 11 Huge Demand From Healthcare Vertical, Supported By Enhanced Performance Over Traditional Material Processing Techniques, to Propel Growth of Market in Near Future
Figure 12 China Held Largest Share of Market in APAC in 2017
Figure 13 System Revenue Expected to Hold Larger Share of Market in 2024, By Revenue
Figure 14 CO2 Laser Expected to Hold Largest Share of Market During 2017-2024, By Type
Figure 15 Laser Processing Expected to Hold Largest Share of Market During 2018-2024, By Application
Figure 16 Telecommunications Expected to Hold Largest Share of Market in 2024, By End User
Figure 17 Germany Held Largest Share of Market in 2017
Figure 18 Market: Drivers, Restraints, Opportunities, and Challenges
Figure 19 Number of People With Blindness (Thousand), By Region, 2010
Figure 20 Number of Plastic Surgeries Performed in Prominent Countries, 2013
Figure 21 Global Semiconductor Silicon Volume Shipments, 2010-2017
Figure 22 Top 10 Countries With Fiber Optic Penetration (%), 2015
Figure 23 Value Chain Analysis: Major Value Added By Original Equipment Manufacturers and Laser System Integrators
Figure 24 Market for Other Laser Type to Grow at Highest CAGR During Forecast Period
Figure 25 CO2 Laser Technology Market for Laser Revenue to Grow at Higher CAGR During Forecast Period
Figure 26 Fiber Laser Technology Market for Laser Revenue to Grow at Higher CAGR During Forecast Period
Figure 27 Solid State Laser Technology Market for Laser Revenue to Grow at Higher CAGR During Forecast Period
Figure 28 Other Market for Laser Revenue to Grow at Higher CAGR During Forecast Period
Figure 29 Market for Laser Revenue to Grow at Higher CAGR During Forecast Period
Figure 30 Market for Optical Communications to Grow at Highest CAGR During Forecast Period
Figure 31 Market for Other Application Employing Other Laser to Grow at Highest CAGR During Forecast Period
Figure 32 Market for Others to Grow at Highest CAGR During Forecast Period
Figure 33 Market for Telecommunications in APAC to Grow at Highest CAGR During Forecast Period
Figure 34 Market for Industrial in APAC to Grow at Highest CAGR During Forecast Period
Figure 35 Market for Semiconductor & Electronics in APAC to Grow at Highest CAGR During Forecast Period
Figure 36 Laser Technology Market for Commercial in APAC to Grow at Highest CAGR During Forecast Period
Figure 37 Market for Aerospace & Defense in APAC to Grow at Highest CAGR During Forecast Period
Figure 38 Market for Automotive in APAC to Grow at Highest CAGR During Forecast Period
Figure 39 Market for Medical in APAC to Grow at Highest CAGR During Forecast Period
Figure 40 Market for Research in APAC to Grow at Highest CAGR During Forecast Period
Figure 41 Market for Others in APAC to Grow at Highest CAGR During Forecast Period
Figure 42 Geographic Snapshot: Market in APAC to Grow at Highest CAGR During Forecast Period
Figure 43 APAC to Witness Highest CAGR in Market During Forecast Period
Figure 44 Snapshot of Market in North America
Figure 45 Market in Canada to Witness Highest CAGR During Forecast Period
Figure 46 Snapshot of Market in Europe
Figure 47 Market in RoE to Witness Highest CAGR During Forecast Period
Figure 48 Snapshot of Market in APAC
Figure 49 Market in India to Witness Highest CAGR During Forecast Period
Figure 50 Market in South America to Witness Highest CAGR During Forecast Period
Figure 51 Product Launch Emerged as Key Growth Strategy Adopted By Major Players in Market Between 2016 and 2018
Figure 52 Market Evolution Framework: Product Launches, Followed By Mergers & Acquisitions, Fuelled Market Growth (2016–2018)
Figure 53 Coherent: Company Snapshot
Figure 54 IPG Photonics: Company Snapshot
Figure 55 Trumpf: Company Snapshot
Figure 56 Lumentum: Company Snapshot
Figure 57 Jenoptik: Company Snapshot
Figure 58 Novanta: Company Snapshot
Figure 59 Lumibird : Company Snapshot
Figure 60 MKS Instruments: Company Snapshot
The study involved 4 major activities in estimating the size of the laser technology market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
The research methodology used to estimate and forecast the laser technology market begins with capturing data on revenues of key vendors in the market, through secondary research. This study incorporates extensive use of secondary sources, directories, and databases (such as Hoovers, Bloomberg Businessweek, Factiva, and OneSource) to identify and collect information useful for a technical, market-oriented, and commercial study of the laser technology market. Vendor offerings have also been taken into consideration to determine market segmentations. The entire research methodology includes studying annual reports, press releases, and investor presentations of companies; white papers; and certified publications and articles from recognized authors, directories, and databases.
Primary Research
The laser technology market comprises several stakeholders, such as suppliers of standard components and original equipment manufacturers (OEMs). The demand side of this market is characterized by the development of telecommunications, industrial, semiconductor & electronics, commercial, aerospace & defense, automotive, medical, research, and “other” end-user verticals. The supply side is characterized by advancements in types of lasers and diverse applications. Various primary sources from both the supply and demand sides of the market have been interviewed to obtain qualitative and quantitative information. Following is the breakdown of primary respondents.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both top-down and bottom-up approaches have been used to estimate and validate the size of the laser technology market and its subsegments. The research methodology used to estimate the market size includes the following:
- Key players in the market have been identified through extensive secondary research.
- The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation
After arriving at the overall market size—using the estimation processes explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakdown procedures have been employed, wherever applicable. The data have been triangulated by studying various factors and trends in both the demand and supply sides of the laser technology market.
Research Objective
- To describe and forecast the laser technology market, in terms of value, by type, end user, application, revenue, and region
- To describe and forecast the laser technology market, in terms of value, by region–Asia Pacific (APAC), Europe, North America, and Rest of the World (RoW), along with their respective countries
- To provide detailed information regarding the major factors influencing market growth (drivers, restraints, opportunities, and challenges)
- To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
- To study the complete value chain of the laser technology market
- To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the laser technology ecosystem
- To strategically profile key players and comprehensively analyze their market positions in terms of ranking and core competencies, along with detailing competitive landscape for market leaders
- To analyze strategic approaches, such as product launches, acquisitions, contracts, agreements, and partnerships, in the laser technology market
Scope of the Report:
Report Metric |
Details |
|
Market size available for years |
2015–2024 |
|
Base year |
2017 |
|
Forecast period |
2018–2024 |
|
Forecast Unit |
Value (USD Billion) |
|
Segments covered |
Type, End User, Application, Revenue, and Region |
|
Geographic regions covered |
North America, APAC, Europe, and RoW |
|
Companies covered |
Coherent (US), IPG Photonics (US), Trumpf (Germany), Lumentum (US), Jenoptik (US), Novanta (US), Lumibird (France), LaserStar (US), Epilog Laser (US), and MKS Instruments (US) |
This report categorizes the laser technology market based on type, end user, application, revenue, and region.
By Type
- CO2 Laser
- Fiber Laser
- Solid State Laser
- Other Laser ( X-ray laser, dye laser, excimer laser, argon laser, chemical laser, and helium-neon laser)
By End User
- Telecommunications
- Industrial
- Semiconductor & Electronics
- Commercial
- Aerospace & Defense
- Automotive
- Medical
- Research
- Others (oil & gas, iron & steel, tobacco, glass, wood, retail, and plastic end-user verticals)
By Application:
- Laser Processing
- Optical Communications
- Others (laser printers, laser scanners, LASIK systems, laser rangefinders, laser gyroscope, laser technology-based lights, and laser security systems)
By Revenue:
- Laser Revenue
- System Revenue
By Geography
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Rest of Europe (Russia, Italy, the Netherlands, Denmark, Switzerland, Slovenia, Sweden, Finland, Norway, Romania, Bulgaria, Spain, and Poland)
- Asia Pacific (APAC)
- China
- Japan
- India
- South Korea
- Rest of APAC (Australia, Singapore, Malaysia, and Thailand)
- Rest of the World (RoW)
- Middle East & Africa
- South America
Available Customizations
Along with the market data, MarketsandMarkets offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to 5)
Critical Questions
- What new application areas are laser technology providers exploring?
- Which are the key market players and how intense is the competition?
- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the Laser Technology Market
- What will your New Revenue Sources be?
- Who will be your Top Customer; what will make them switch?
- Defend your Market Share or Win Competitors
- Get a Scorecard for Target Partners
Growth opportunities and latent adjacency in Laser Technology Market
I would like to research out the market size well to classify the technical addressable market and commercial addressable Market via our products.
Over the years, fiber laser have witnessed an increase in demand due to its low cost, high output power, and compact size. Will these fiber laser replace the prominent laser been used today including CO2 laser?
There are several harmful effects of laser medical devices such as mild skin burns, tissue damage, photochemical effects and more. These effects depends upon various factors including exposure duration, beam energy, beam wavelength, and area of exposure. In what terms, harmful effects of laser during medical treatment or surgery will affect market growth?
Dot peen marking offers several advantages in terms of low-stress marking, adjustable marking length, ability to mark through any coating, and dot peen marking can be programmable for fully automated marking. How dot peen marking affect adoption of laser for marketing and engraving application?
Recent trade war between China and the US have resulted in decreasing industrial output growth from several countries and global slowdown. According to an estimate, the trade war is expected to lower world's GDP by 1%. Up to what extent, US China trade war will affect laser market growth?
Solid and fiber laser uses rare earth elements such as chromium, erbium, neodymium and others. Extraction of these rare earth materials can cause hazardous environment impacts. Also the raw supply can be monopolized by few countries. How government regulation regarding raw material mining and extraction for laser raw material will affect the market growth?
As a medium industry player, we would like to get informative data regarding the prospects of laser application in the future market so that we can reach to our fruitful planning on the purpose of the best sales of laser equipment.
We are working on Indian laser development to judge whether we can have some corporation on the engineer or academic problems with India university or company.
I'm writing a BSc thesis about VECSEL lasers and I'm looking for a source to cite regarding the current size of the laser technology market.
We are interested in marketing single crystals for nonlinear optics in solid state lasers especially in the UV and deep UV.
I need to learn detailed laser market share from 2019 to 2025 to use in my thesis. I would be very happy especially if it's about diode lasers that is used to pump doped fiber lasers (between 808 nm and 1060 nm).
I am working on a research based on laser technologies. I am trying to have a better overview on the market share/growth and competition, present in the laser technologies sector.
Do government regulation affect adoption of lasers for food items?
Looking for specific information on the number of YAG and other garnets used in the USA and globally.
Do you have more recent data than this report, and can you provide access to analyst who wrote it for a Q&A to dig deeper into specific sectors: we are particularly dealing at medical, surface treatment, YAG, fiber and ultrafast. The project has some urgency and your quick response would be appreciated.
Hi, I am an analyst at CCMP Capital. We are currently researching the laser market and found your report, “Laser Technology Market by Type, Application, and Geography - Trends & Forecast to 2013 - 2020” online. Do you have a sample of the report you could send us? We are in the initial stages of our research and want to get some preliminary understanding of the market before we proceed.
Will increase in adoption of fiber laser will affect demand of CO2 laser?
I would like the Epilog and Universal Laser Systems and Xenetech and Gravograph and Trotec financial pages.