Laser Technology Market

Coherent (US) and IPG Photonics (US) are the Key Players in the Laser Technology Market

The global laser technology market size is expected to grow from USD 16.7 billion in 2022 to USD 25.6 billion by 2027, at a CAGR of 8.9%. Growing preference for laser-based material processing techniques, increasing demand for laser technology in optical communication and healthcare vertical, and growing demand for laser systems for various industrial processes such as welding, scribing, engraving, welding, and cutting etc., are the key factors driving the laser technology market.

The key players operating in the laser technology market include the major players which operates in different stages in the entire value chain of laser technology; these players are Coherent (US), IPG Photonics (US), TRUMPF (Germany), Han’s Laser (China), and Jenoptik (Germany). For staying competitive in the market and to increase their footprint in the global market, these players have adopted various types of strategies including increasing investments in R&D (research & development) and new product launches, increasing number of acquisitions, mergers, partnerships, and strategic alliances, and planned geographic expansions etc.

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Coherent has a strong global presence. The company manages a network of sales subsidiaries and distributors worldwide, allowing it to carry out worldwide sales, marketing, and customer service activities. The company, being a leader in the microelectronics market, is continuously involved in research and development to ensure the market attractiveness of its products. The company has been consistently investing in R&D, enabling it to develop and maintain its product portfolio through multiple product launches and enhancements. For instance, in 2022, Coherent introduced the OBIS XT Series of compact smart ultraviolet lasers aimed at expanding power capacity up to 150 milliwatts, which feature 320 nm wavelength. As per the company’s revenue mix for FY 2021, it invested ~USD 125 million in R&D, which comprised 8.4% of its total revenue.

IPG Photonics demonstrates vertical integration as the company designs and manufactures most of the key components required in its finished products, from semiconductor diodes to optical fiber preforms, finished fiber lasers, and amplifiers. The company also manufactures complementary products used with its lasers, such as optical delivery cables, fiber couplers, beam switches, and optical processing heads. This vertical integration strategy allows the company to reduce its manufacturing costs, control quality, integrate advanced products, and protect its proprietary technology. The company focuses on research and development to expand and improve its product line by increasing power levels, improving beam quality and electrical efficiency, and lowering the cost per watt. It supports a specialized team of engineers and scientists with experience and knowledge in fiber lasers and amplifiers, material sciences, and optics, which enables it to work with a diversified customer base to develop and introduce customized products for addressing specific applications. As per the company’s revenue mix for FY2021, it invested ~USD 140 million in R&D, which comprised 9.6% of its total revenue.

As an organization, TRUMPF has always positioned itself as a research-intensive and future-oriented company. The company is focusing on undertaking more number of research projects to enhance and expand its product portfolio. Therefore, the company increased the number of research experts, engineers, and other professionals working on product development by ~4.2% in FY2021. It encourages and initiates the building of new skillsets through training and technological orientation to improve the quality of research. TRUMPF has also developed an innovative “Internehmertum” scheme that encourages employees to propose individual ideas to enrich their customer-centric product portfolio. As per the company’s revenue mix, its R&D investments have increased from 10.5% of its total revenue in 2019 (~USD 450 million) to 10.9% in 2021 (~USD 455 million), resulting in multiple product launches and enhancements in the field of research.

Related Reports:

Laser Technology Market by Type (Solid, Liquid, Gas), Product (Laser, System), Application (Laser Processing, Optical Communication, Optoelectronic Devices), Vertical (Telecommunications, Industrial) and Region - Global Forecast to 2027

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Laser Technology Market Size,  Share & Growth Report
Report Code
SE 2726
RI Published ON
8/2/2022
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