The Laser technology market size is expected to grow from USD 11.7 billion in 2020 to USD 17.6 billion by 2025, at a CAGR of 8%.
The growing demand for laser technology in the medical field is a major factor expected to drive the growth of the global laser technology market during the forecast period as the increase in surgical procedures achieves accuracy and precision. In addition, the growing demand for laser technology for material processing is another factor that is expected to fuel the growth of the target market in the future. In addition, increasing production of nano and micro devices and increasing demand for optical communications are among the few factors that are expected to drive the growth of the potential market during the forecast period.
However, stringent compliance and high cost solutions are key factors that can hinder the demand for laser technology and hold back the growth of the target market during the forecast period. Increasing adoption of laser technology in various end-user industries for quality inspection and increasing R&D for cost-effective solutions is one of the few factors expected to create favorable opportunities for the growth of the global laser technology market during the forecast period.
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Laser Technology Market: Key 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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Global Laser Technology Market Segmentation:
By Laser Type
- Laser Processing
- Optical Communications
By End-user Industry:
- Semiconductor & Electronics
- Aerospace & Defense
o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment
o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume
Key Questions Answered by Laser Technology Market Report
- What was the Laser Technology Market size in 2018 and 2019; what are the estimated growth trends and market forecast (2019-2025).
- What will be the CAGR of Laser Technology Market during the forecast period (2019-2025)?
- Which segments (product type/applications/end-user) were most attractive for investments in 2018? How are these segments are expected to grow during the forecast period (2019-2025)?
- Which manufacturer/vendor/players in the Laser Technology Market was the market leader in 2018?
- Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.
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