$16.9 Bn Laser Technology Market by Type, Revenue, Application, End User, Geography - Global Forecast to 2024

News provided by

Jan 03, 2019, 13:30 ET

DUBLIN, Jan. 3, 2019 /PRNewswire/ --

The "Laser Technology Market by Type (Carbon Dioxide Laser, Fiber Laser, and Solid State Laser), Revenue (Laser Revenue and System Revenue), Application (Laser Processing and Optical Communications), End User, Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The overall laser technology market was valued at USD 11.98 billion in 2017 and is expected to reach USD 16.91 billion by 2024, at a CAGR of 4.65% from 2018 to 2024.

Laser stands for light amplification by stimulated emission of radiation (LASER). A laser technology device produces a beam of light, which is coherent, monochromatic, and aligned. Laser technology offers various benefits - such as greater speed, higher accuracy, and lesser cost - over traditional methods, which are expanding this technology's application across various verticals.

Currently, the laser technology market is in the growth stage. The growth of the laser technology market is driven by factors such as huge demand from the healthcare vertical and enhanced performance over traditional materials processing techniques.

Laser technology provides various benefits over traditional materials processing, such as higher accuracy, lower labor cost, and lesser loss of material. For instance, laser displacement sensors can measure a larger area than capacitive or inductive distance sensors. The shift toward the production of nano and micro devices would further boost the growth of the laser technology market. Whereas, regulatory compliances could inhibit the market's growth; the requirement for low-cost solution is a major challenge for the market.

APAC held ~33% (largest share) of the laser technology market in 2017. The market in APAC was valued at USD 4.02 billion in 2017 and is expected to reach USD 5.95 billion by 2024, at a CAGR of 5.35% from 2018 to 2024. China, India, South Korea, and Japan are the major contributors to the growth of the laser technology market in APAC. Continuous demand for cost-effective and fast processing laser machine tools from semiconductor, automotive, industrial, and telecommunications verticals are expected to drive the growth of the laser technology market in APAC.

The laser technology market in North America was valued at USD 3.51 billion in 2017 and is expected to reach USD 4.88 billion by 2024, at a CAGR of 4.40% from 2018 to 2024. The US, Canada, and Mexico are the major contributors to the growth of the laser technology market in North America. North America is one of the most technologically advanced regions and is a huge market for laser technology devices because of the presence of prominent system suppliers, large semiconductor companies, and automotive manufacturers. North America is a pivotal region for the growth of laser technology in industrial, automotive, telecommunications, and semiconductor verticals.

Key Topics Covered:

1 Introduction
1.1 Study Objectives
1.2 Definition
1.3 Study Scope
1.4 Currency
1.5 Limitations
1.6 Stakeholders

2 Research Methodology
2.1 Introduction
2.2 Market Size Estimation
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in Laser Technology Market
4.2 Laser Technology Market in APAC, By Country and End User
4.3 Laser Technology Market, By Revenue
4.4 Laser Technology Market, By Type
4.5 Laser Technology Market, By Application
4.6 Laser Technology Market, By End User
4.7 Laser Technology Market, By Country

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand From Healthcare Vertical
5.2.1.2 Enhanced Performance of Lasers Over Traditional Material Processing Techniques
5.2.1.3 Shift Toward Production of Nano and Micro Devices
5.2.2 Restraints
5.2.2.1 Regulatory Compliance
5.2.3 Opportunities
5.2.3.1 Adoption of Laser Technology in Various Verticals for Quality Check
5.2.3.2 Increasing Use of Lasers for Optical Communications
5.2.4 Challenges
5.2.4.1 Requirement for Low-Cost Solutions
5.3 Value Chain Analysis

6 Laser Technology Market, By Type
6.1 Introduction
6.2 CO2 Laser
6.2.1 Wide Range of Commercial, Industrial, and Military Applications Drives Demand for CO2 Laser
6.3 Fiber Laser
6.3.1 Features Such as High Output Power, Flexible Fiber Light, Compact Size, and High Optical Quality Drive Demand for Fiber Laser
6.4 Solid State Laser
6.4.1 Yag Laser
6.4.1.1 High Thermal Conductivity Makes Yag Laser Suitable for Several Applications
6.4.2 Semiconductor Laser
6.4.2.1 Semiconductor Laser is Compact, Making It Suitable for Several Applications
6.4.3 Thin Disk Laser
6.4.3.1 Ability to Generate High Peak Power in Picosecond Pulses Boosts This Types Demand
6.4.4 Ruby Laser
6.4.4.1 Applications Such as Pigmented Lesions, Hair, Tattoo Removal and Melasma Treatment Boost Its Demand
6.5 Other Laser
6.5.1 X-Ray Laser
6.5.1.1 Applications Such as in Dense Plasmas, X-Ray Microscopy, Medical Imaging, Aerospace & Defense, and Surface Research Boost Its Demand
6.5.2 Dye Laser
6.5.2.1 Several Applications in Healthcare Vertical Support Its Growing Demand
6.5.3 Excimer Laser
6.5.3.1 Ability of Excimer Laser to Generate Light Pulses of Various Wavelengths Drives Its Demand
6.5.4 Argon Laser
6.5.4.1 Ability to Generate Discrete Laser Lines Or Wavelengths Boosts Its Demand
6.5.5 Chemical Laser
6.5.5.1 Chemical Lasers Have Significant Applications in Aerospace & Defense
6.5.6 Helium-Neon Laser
6.5.6.1 Ability to Produce Various Wavelengths Boosts Its Demand

7 Laser Technology Market, By Revenue
7.1 Introduction
7.2 System Revenue
7.2.1 Applications in Several Verticals, Such as Industrial, Commercial, Automotive, and Medical, to Drive System Revenue
7.3 Laser Revenue
7.3.1 Revenue Generated From Sales of Several Types of Lasers Drives Laser Revenue Segment

8 Laser Technology Market, By Application
8.1 Introduction
8.2 Laser Processing
8.2.1 Macro Processing
8.2.1.1 Cutting
8.2.1.1.1 Fusion Cutting
8.2.1.1.1.1 Metals and Fusible Materials Cutting Drives Demand for Laser for Fusion Cutting
8.2.1.1.2 Flame Cutting
8.2.1.1.2.1 Suitability for Cutting Flat Sheets, Mild Steel, and Plates With High Thickness Drives Demand for Laser for Flame Cutting
8.2.1.1.3 Sublimation Cutting
8.2.1.1.3.1 Ability to Cut Material With Low Melting Point Boosts Demand of Lasers for Sublimation Cutting
8.2.1.2 Drilling
8.2.1.2.1 Single Pulse Drilling
8.2.1.2.1.1 Ability to Drill Various Sizes in 3d Surface Materials Drives Demand for Lasers for Single Pulse Drilling
8.2.1.2.2 Percussion Drilling
8.2.1.2.2.1 Ability to Drill Shorter-Diameter Holes Boots Demand for Lasers for Percussion Drilling
8.2.1.2.3 Trepanning Drilling
8.2.1.2.3.1 Usage of Trepanning Drilling Where the Laser Beam Diameter is Much Smaller Than the Hole Diameter Drives Its Demand
8.2.1.2.4 Helical Drilling
8.2.1.2.4.1 Usage of Helical Drilling for Producing Large and Deep Holes Drives Its Demand
8.2.1.3 Welding
8.2.1.3.1 Benefits in Terms of High Processing Welding Speeds, Thin and Small Weld Seams, Low Thermal Distortion, and No Tool Distortion Drive Demand for Lasers for Welding
8.2.1.4 Marking and Engraving
8.2.1.4.1 Suitability for Several Applications, Such as Printing, Hot-Branding, and Laser Bonding, Boosts Demand for Laser for Marking and Engraving
8.2.2 Micro Processing
8.2.2.1 Major Applications of Laser Micro Processing Include Printed Circuit Board (Pcb) Layouts, Semiconductor Lithography, and Micromachining Parts
8.2.3 Advanced Processing
8.2.3.1 Use of Laser for Laser Deposition Technology Drives Demand for Advanced Processing
8.3 Optical Communications
8.3.1 Laser Technology Devices are Extensively Used as High-Speed Transmitters in Analog and Digital Fiber Networks
8.4 Others
8.4.1 Other Laser has Applications in Several Verticals, Including Commercial, Industrial, Aerospace & Defense, and Automotive

9 Laser Technology Market, By End User
9.1 Introduction
9.2 Telecommunications
9.2.1 Telecommunications Vertical Accounted for Largest Market Share in 2017
9.3 Industrial
9.3.1 Expanding Applications in Manufacturing Expected to Drive Growth of Industrial End-User Vertical
9.4 Semiconductor & Electronics
9.4.1 Memory
9.4.1.1 Light-Based Memory Chips Expected to Drive Demand for Lasers in Memory Chips
9.4.2 Microprocessors
9.4.2.1 Tiny Lasers Fabricated on Silicon Will Drive Demand for Lasers in Microprocessors
9.4.3 Integrated Circuit
9.4.3.1 Photonic Integrated Circuits to Boost Demand for Lasers in Integrated Circuits
9.5 Commercial
9.5.1 Smartcard Marking is A Major Commercial Application of Laser Technology
9.6 Aerospace & Defense
9.6.1 Aerospace Industry
9.6.1.1 Lasers Find Application in Aircraft Manufacturing for Cutting Engineered Parts
9.6.2 Missile Industry
9.6.2.1 Lasers are Used in Semi-Active Laser Homing Missile Technology
9.6.3 Space Industry
9.6.3.1 Ability to Travel in Space Without Any Corruption Drives Lasers Demand
9.6.4 Combat Vehicle Industry
9.6.4.1 Possible Additional Security Features Achievable Through Laser Drive Its Demand
9.6.5 Ammunition & Weapon Industry
9.6.5.1 Utilization in Laser Guns to Boost Its Demand
9.7 Automotive
9.7.1 Solid State Laser and Fiber Laser are Commonly Used in Automotive Vertical
9.8 Medical
9.8.1 Accuracy and Precision Achievable Through Laser Drive Its Demand in Medical End-User Vertical
9.9 Research
9.9.1 Spectroscopy, Atmospheric Remote Sensing, Seismology, and Atmospheric Physics are Some of Major Applications of Laser in Research End-User Vertical
9.10 Others
9.10.1 Oil & Gas, Iron & Steel, Tobacco, Glass, Wood, Retail, and Plastic End-User Verticals Comprise Others Segment

10 Geographic Analysis

11 Competitive Landscape
11.1 Introduction
11.2 Ranking Analysis of Laser Technology Market Players
11.3 Competitive Scenario
11.3.1 Contracts/Partnerships/Agreements/Collaboration
11.3.2 Expansions
11.3.3 Mergers/Acquisitions
11.3.4 Product Launches

12 Company Profiles

600 Group
Access Laser
Bystronic Laser
Coherent
Corning Incorporated
Epilog Laser
EuRoLAser
Focuslight Technologies
Han's Laser Technology
IPG Photonics
Jenoptik
Laserstar
Lumentum
Lumibird
MKS Instruments
Novanta
Photonics Industries
Prima Industrie
Toptica Photonics
Trumpf

For more information about this report visit https://www.researchandmarkets.com/research/rrv6vd/16_9_bn_laser?w=5

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

Media Contact:

Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

SOURCE Research and Markets