Status : Published Published On : Oct, 2020 Report Code : VRSME9020 Industry : Semiconductor & Electronics Available Format : Page : 220

Global Laser Technology Market - Analysis and Forecast (2019-2025)

Industry Insights by Type (Solid, Liquid, Gas, and Others), by Revenue (Laser Revenue and System Revenue), by Application (Laser Processing, Optical Communications, and Others), by End User (Telecommunications, Industrial, Semiconductor & Electronics, Commercial, Aerospace & Defense, Automotive, Medical, Research, and Others)

Industry Overview

The global laser technology market estimated to be USD 11.5 billion in 2020 and is predicted to reach USD 17.5 billion by 2025, growing at a CAGR of 8.6% during the forecast period. The factors responsible for the growth of laser technology across the globe are enhancing demand from healthcare industry and improved performance of lasers over traditional material processing techniques.

Laser Technology Market Highlights

Market Segmentation

Insight by Type

Based on type, the global laser technology market is categorized into solid, liquid, gas, and others. In 2019, the solid type lasers segment is expected to dominate the laser technology market. The segment’s high share is due to its benefits such as it helps in the stoppage of the wastage of materials in the active medium and manufacture both continuous and pulsed output at a higher efficiency than He-Ne and argon lasers by about 2% to 3%.

Insight by Revenue

On the basis of revenue, the laser technology market is categorized into laser revenue and system revenue. In 2020, the system revenue segment is expected to be largest among all the segments and is projected to be fastest growing, over the study period. The property of these systems to carry out a wide range of functions expands their utility in various sectors such as commercial, industrial, medical, and automotive.

Scope of the Report

Report Metric

Details

Market Size Available for the Years in the Study

2015–2025

Historical Period

2015–2019

Base Year

2019

Forecast Period

2020–2025

Segments Covered in the Study

Type, Revenue, Application, End User, and Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

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, and eurolaser GmbH

Industry Dynamics

Growth Drivers

The primary factors driving the growth of the global laser technology market are:

  • - Growing demand from healthcare industry
  • - Increasing adoption of laser-based material processing over traditional approaches
  • - Increase in shift towards production of nanodevices and microdevices

Some of the major benefits of laser solutions are high accuracy along with greater productivity and minimal environmental effects. Laser technology is more compatible for the optical communication, as it uses high-speed data transmission in digital and analog fiber optic networks as this operates in advocate of laser technology market. Increase in the adoption of laser technology due to the fast processing laser machine tools from various industries and the growing demand for cost-effective, also from other markets in laser technology.

Challenges

High deployment cost and lack of personnel with required technical expertise is probably the greatest obstacle confronting laser technology producers.

Opportunities

  • - Rising use of lasers for optical communication
  • - Increase in adoption of laser technology in various industries for quality check

Geographic Overview

Geographically, Asia-Pacific is the largest revenue contributor in the laser technology market. The Asia-Pacific region, in particular countries such as China, Taiwan, Japan, South Korea, and India, are experiencing increase in terms of adoption of laser technology products and solutions compared with other regions. Growing research and development investments, and increasing manufacturing and electronics industries are expected to accelerate the growth of the laser technology market in Asia-Pacific.

Competitive Insight

Key players operating in the global laser technology market include 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, and eurolaser GmbH.

Forecast Parameters

  • - Identifying variables and establishing market impact.
  • - Establishing market trends regionally.
  • - Analyzing opportunities and market penetration rates by understanding product commercialization, regional expansion.
  • - Analyzing demand and supply trends and changes in industry dynamics to establish future growth.
  • - Analyzing sustainability strategies adhered by market participants in an attempt to determine future course of the market.
  • - Analyzing historical market trends and super-imposing them on the current and future variables to determine year-on-year trend.
  • - Understanding adoption, development, distribution and regulatory framework.

Data Validation

  • - Estimated and forecasted data was validated through industry experts.
  • - Apart from industry experts, data triangulation methods were used for validation.
  • - Bottom up and top down approach has been used for estimation and forecast of market data, whereas top down approach was used for validation.
  • - Demand as well as supply side surveys were conducted in order to understand the industry dynamics and data validation.

Research Phases

Laser Technology Market Research Phases

Primary Research

VynZ Research conducts extensive primary research to understand the market dynamics, validate market data and have key opinions from the industry experts. The key profiles approached within the industry includes, CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads and Others. Also, end user surveys comprising of consumers are also conducted to understand consumer behavior.

Laser Technology Market Size

Source: VynZ Research

Laser Technology Market Analysis

Source: VynZ Research

Frequently Asked Questions

Key players operating in the global laser technology market include 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, and eurolaser GmbH.
Asia-Pacific is the largest revenue contributor in the laser technology market.
High deployment cost and lack of personnel with required technical expertise is probably the greatest obstacle confronting laser technology producers.
In 2019, the solid type lasers segment is expected to dominate the laser technology market.
The global laser technology market is predicted to reach USD 17.5 billion by 2025.

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Research Methodology

  •  Desk Research / Pilot Interviews
  •  Build Market Size Model
  •  Research and Analysis
  •  Final Deliverabvle
Laser Technology Market