Market of Laser Technology Growing at 5.33% CAGR to 2020

Apr 11, 2016, 22:00 ET from ReportsnReports

PUNE, India, April 12, 2016 /PRNewswire/ --

The worldwide laser technology market is set to rise from $10.09 billion in 2015 to reach $14.67 billion by 2022, at a CAGR of 5.33% between 2016 and 2022 with APAC expected to hold the largest share and grow at the highest rate propelled by optical communication application.

Complete report on global laser technology market spread across 161 pages, profiling 10 companies and supported with 70 tables and 66 figures is now available at .

Growing focus of manufacturers and industrialists on implementing laser technology in the manufacturing processes is one of the major driving factors for this market. In addition to this, the increasing adoption of laser technology in biology, scientific research, and medical sectors due to its benefits is also accelerating the growth of the laser technology market.

The application of laser in optical communication has been one of the driving factors for the development of the laser technology. Laser has shorter wavelength and is less divergent than radio signals due to which it can achieve higher data rates and consume lesser power for data transmission. These features, coupled with low-payload weight, have made laser communication terminals interesting for applications such as space telescopes, on-board satellites, and scientific space probes.

The market in APAC is expected to hold the largest share of the laser technology market and to witness the highest growth rate during the forecast period. This growth can be credited to the high adoption of this technology in this region, especially in China and Japan. The manufacturing companies based out of China and Japan are increasingly making use of laser technology-based products for material processing which is leading to the growth of this market in APAC. Rapid modernization in the countries of APAC has accelerated the growth, especially of the semiconductor & electronics vertical which has ultimately led to the growth of the laser technology market in this region.

The key players in the market include Coherent, Inc. (U.S.), Trumpf Group (Germany), IPG Photonics Corp. (U.S.), ROFIN-SINAR Technologies, Inc. (U.S.), Newport Corp. (U.S.), Jenoptik AG (Germany), Lumentum Holdings, Inc. (U.S.), GSI Group, Inc. (U.S.), Han's Laser Technology Industry Group Co., Ltd. (China), and Epilog Laser (U.S.) among others. Order a copy of Laser Technology Market by Type (Solid, Liquid, Gas), Application (Optical Communication, Laser Processing), and Vertical and Geography - Analysis & Forecast to 2022 research report at .

In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (22%), Tier 2 (35%) and Tier 3 (43%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level (29%), Director Level (37%) and others (34%) from various key organizations operating in the global laser technology market. The primary interviews were conducted worldwide covering regions such as North America (39%), Europe (31%), APAC (21%) and RoW - (9%).

On a related note, another research on Laser Processing Market Global Forecasts to 2022 says, the diversified applications are as expected to drive the laser processing market. Solid lasers are to gain maximum traction during the forecast period. The overall market is estimated to grow from USD 6.40 billion in 2015 to USD 9.75 billion by 2022, at a CAGR of 6.13% from 2016 to 2022. Companies like Coherent, Inc., IPG Photonics Corporation, ROFIN-SINAR Technologies Inc., Trumpf Group, Newport Corporation, Jenoptik AG, Eurolaser GmbH, Epilog Laser, Alltec GmbH and Lumentum Holdings Inc. have been profiled in this 190 pages research report available at .

Explore more reports on the Semiconductor and Electronics market at .

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