Laser Technology Market – Overview
Laser technology has come to be applied in a wide range of activities that have added positively to the development of the market. Market focused reports connected to the semiconductors and electronics industry among others lately have been made available by Market Research Future which publishes reports in this industry. The market is anticipated to achieve USD 18 billion approximately in terms of revenue by 2023 while growing at a CAGR of 6 percent in the forecast period.
Laser technology has penetrated into many of the products that are being used on a daily basis. Blu-Ray, bar code scanners and DVD players are a few of the popular products that employ laser technology to a great extent. Rising demand from the manufacturing industry and surgical procedures such as LASIK have increased the demand for the development of laser technology in the recent years. Increasing demand for optical communication is the driving the progress of the laser technology market at a greater level. The sector is expected to benefit from the investment inflows from current market players as well new investors in the market throughout the forecast period.
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May 2018 Trumpf has recently held a ceremony In Yangzhou, marking the opening of a new €12 million production site for its subsidiary, JFY. Also, Trumpf had stated it is spending €8 million in Trumpf China, where construction crews have broken ground in April for a multipurpose site for a workforce of 590 personnel. The high quality laser cutting machines that process sheet metal are the main revenue drivers for Trumpf China. Trumpf is consolidating its place in the Chinese market with a strong local presence, and this move is a part of their strategy to create their market presence.
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.
The laser technology market globally has been segmented into application, type, verticals, and region segments. The type segment is segmented into liquid laser, solid laser, gas laser among others. The segmentation on applications comprises of laser gyroscopes, laser processing, laser printers, laser rangefinders, laser scanners, laser headlights, optical communication laser security systems and others. Additionally, the laser processing segment consists of advanced processing, micro processing, macro processing, and others. The end-users segment is segmented into aerospace & defense, healthcare, IT & telecommunication, automotive, and others. The market covers regions comprising of Europe, North America, Asia Pacific, and rest of the world.
The regional analysis of laser technology market is studied for regions such as Europe (Germany, the U.K), Asia Pacific (Japan, China, and India), North America (Canada, the U.S., and Mexico), and Rest of the World. The North American region is among the foremost regions in terms of market share. The market for laser technology in this region has a vast demand owing to the growing adoption of consumer electronics devices, which is pushing the market growth to a great extent. The laser technology market in the European region is likely to observe fast growth in the coming period. While, Asia Pacific countries such as Japan, India, and China is an evolving laser technology market, which is estimated to mature at an excellent CAGR percent in the upcoming years.
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- 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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