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Laser Technology Market 2020-2023:, Share Emerging Trends, Future Growth, Technology, Revenue Analysis

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Sep 08, 2020 (AmericaNewsHour) —
Global Laser Technology Market Research Report, By Type (Solid Laser, Liquid Laser,), Application (Laser Processing, Laser Printers), Verticals (Healthcare, Automotive) – Forecast Till 2023

Companies such as Corning Incorporated (U.S.), IPG Photonics Corp. (U.S.), Micron Laser Technology (U.S.), LasaerStar Technologies Corp. (U.S.), ALT Advanced Lazer Technologies (U.K), Applied Laser Technology, Inc. (U.S.), are the leading providers of laser technology solution in the global market. The factor that drive the market growth of laser technologies is the increasing implementation of lasers in material processing applications such as cutting, welding, engraving and others. For instance, laser systems are widely used for cutting airbag cloth and composite materials in automotive sectors. In February 09, 2016, Corning Incorporated entered into a partnership agreement with Altechna R&D to develop new laser glass processing technologies. This is due to growing demand of laser processing technologies for ultra-strong, ultrathin, and ultraclean glass processing solutions.

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The growing demand for optical communication is the driving factor for the market growth of the laser technologies as it consumes lesser power for data transmission. Moreover, the increasing demand of infrared thermometer is gaining momentum in the coming years as it is widely used for measurement of temperature on any object in the industries. In December 20, 2016, Corning Incorporated has announced its new product new high-precision laser processing tool for commercial availability. This tools are designed for cutting and drilling strengthened and non-strengthened glass. Apart from glass, it is also used for crystalline materials, and processing micro materials which includes OLED, polyimide, wafers, ceramics, plastics, and others.

Segmentation of Laser technology Market:

The global laser technology market is segmented into type, application, verticals, and region. The type is segmented into solid laser, liquid laser, gas laser and others. The applications segment is sub-segmented into laser processing, laser gyroscopes, laser printers, laser scanners, laser rangefinders, laser headlights, laser security systems, optical communication and others. Furthermore, the laser processing is sub-segmented into macro processing, micro processing, advanced processing and others. The end-users segment is sub-segmented into IT & telecommunication, aerospace & defense, healthcare, automotive, and others. The market is spanned across regions including North America, Europe, Asia Pacific, and rest of the world.The global laser technology market is expected to grow at USD 18 billion by 2023 at a CAGR of ~6% during the forecast period 2017-2023.

Global Laser technology Market

 Key Players

Some of the prominent players in the global laser technology market Coherent, Inc. (U.S.), Corning Incorporated (U.S.), IPG Photonics Corp. (U.S.),  Micron Laser Technology (U.S.), Trumpf Group (Germany), Laser Technology, Inc. (U.S.), Lumentum Holdings Inc. (U.S.), Haas Laser Technologies Inc. (U.S.), Jeanoptik AG (Germany), Novanta Inc. (U.S.), Quantel Group (U.K), LasaerStar Technologies Corp. (U.S.),  ALT Advanced Lazer Technologies  (U.K), Applied Laser Technology, Inc. (U.S.), Epilog Laser (U.S.), NeoPhotonics Corporation (U.S.), Han’s Laser Technology Co., Ltd  (China), MKS Instruments (U.S.), among others.

Regional Analysis

The regional analysis of laser technology market is studied for regions such as Asia Pacific (China, Japan, and India), North America (the U.S., Mexico, and Canada), Europe (the U.K, Germany) and Rest of the World. North America is one of the leading regions of the world in terms of market share. The laser technology market in this region has a huge demand due to the increasing adoption of consumer electronics devices, which is propelling the market growth to a large extent. The laser technology market in Europe is expected to witness rapid growth in the forthcoming period. Whereas, Asia Pacific countries such as China, Japan, and India is an emerging laser technology market, which is expected to grow at the highest CAGR in the coming years.

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Intended Audience

Laser technology  companies

Laser technology  providers

Technical universities

System integrators

Managed Security Service Providers

Professional service providers

Research and development companies

Market research and consulting firms

Solution providers

Technology standards organizations

Technology investors

System Integrators

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The post Laser Technology Market 2020-2023:, Share Emerging Trends, Future Growth, Technology, Revenue Analysis appeared first on America News Hour.

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