Laser stands for light amplification by stimulated emission of radiation. It is a coherent and focused beam of photons which are all of one wavelength. Laser technology is broadly used in many professional applications such as for the measurement of height and distance from a remote position with GPS and verifying an angular direction. Lasers hold high temporal coherence thus it is capable of emitting light with a very narrow spectrum.
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Global Laser Technology Market: Growth Factors
Laser technology market is growing at a very fast pace globally. Gas lasers are getting popular worldwide due to its suitable use in the various application areas which require laser beam with long coherent length, efficient beam quality, and single mode operation. It protects high-volume active material and swift heat removal from the laser cavity. These properties are essential in different applications such as the reading of bar codes and making holograms. However, the drop in the prices of diode lasers and fiber lasers may have affected the laser technology market growth to some extent. Fiber lasers will replace other types of lasers, such as diode lasers in many of the applications.
Global Laser Technology Market: Segmentation
The laser technology market is segmented on the basis of application, product, and region. According to application segment, the market is divided into telecom, automotive, military and aerospace, medical, entertainment and display, research and development, materials processing and instrumentation, and others. Depending on the product, the market is fragmented into fiber lasers, CO2 lasers, manual welding lasers, solid-state lasers, ultrashort pulse lasers, diode lasers, lasers for marking, and other lasers. Region-wise, the market is segregated into North America, Europe, Latin America, Asia-Pacific, and the Middle East & Africa.
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Global Laser Technology Market: Regional Analysis
Asia Pacific is expected to hold the largest market share for laser technology due to the rise in support for investments in research and development activities, huge population base, and changing focus of the domestic and international IT companies for the growth of cloud-based services and big data analytics in this region is expected to foster the growth of the laser technology market. The constant demand for cost efficient fast processing laser machine tools from various industries such as telecommunication, automotive, semiconductor, and industrial in the North American region, this is, in turn, propelling for the significant growth of the market.
Global Laser Technology Market: Competitive Players
Key market players in the global laser technology market include Laserstar Technologies Corp., Alltec GmbH., Prima Industrie S.p.A., Bystronic Laser AG, Toptica Photonics AG, Corning Inc., Universal Laser Systems Inc., Ams Technology, Ushio Opto Semiconductors Inc., Han’s Laser Technology Industry Group Co. Ltd., Photonics Industries International. Inc., and Focuslight Technologies Inc. Other players include Keopsys Group, Quantel Group, Eurolaser GmbH., Trumpf Group, Access Laser, Npi Lasers Co. Ltd., Epilog Laser, Lumentum Holdings Inc., Jeanoptik AG, Novanta Inc., and IPG Photonics Corporation.
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