The laser technology market will be worth $ 30.3 billion by 2028

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Laser Technology Market by Type (Solid State, Liquid, Gas), Application (Laser Processing, Optical Communication) and End User (Telecommunications, Industrial, Semiconductor & Electronics, Automotive, Healthcare) – Global Forecast to 2028

Redding, Calif., October 12, 2021 (GLOBE NEWSWIRE) – According to a new market research report titled Laser Technology Market by type (Solis laser, gas laser, liquid laser, semiconductor laser), by application (laser processing, optical communication, others), end user (industrial, semiconductor and electronics, automotive, telecommunications, aerospace and defense , healthcare, commercial and other) End users.), and by geography (Asia-Pacific, North America, Europe, Latin America, Middle East and Africa)‘, published by Meticulous Research®, the laser technology market is expected to grow at a CAGR of 11.4% from 2021 to 2028 to reach $ 30.3 billion by 2028.

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According to this latest publication, the laser technology market is driven by factors such as increasing adoption of laser technology in electronics industry and medical applications, shift to micro and nanodevices and, more importantly, the increasing demand for laser material processing. on traditional treatment. Laser processing offers high quality products, high efficiency, high flexibility, high speed, low cost and many advantages, which increase the adoption of laser technology by industries.

There has been a great demand for lasers from industries such as electronics, healthcare, manufacturing, automotive, among others. In addition, the increase in government initiatives is contributing to the growth of the laser technology market. The increasing adoption of different laser technologies in optical communication and robotics offers significant growth opportunities for various companies operating in this market. However, the high initial cost of laser treatment is hampering the growth of this market.

The impact of COVID-19 on the laser technology market

The telecommunications segment has seen high demand for lasers during the COVID-19 period as large numbers of office workers have made the switch from working from home. Internet and voice communications service providers have been quick to install upgrades on their networks to keep up with their changing demands. Additionally, more people working from home means more people using their smartphones at home during the day; it also required updates to wireless networks. The transition from working in the office to working from home has been a lifelong change for many office workers. This has caused many service providers to rethink their deployment strategies and focus on upgrading underserved residential areas, which will increase communications laser revenue. Sales of optical storage lasers in this segment were down. While COVID-19 led many people to switch to working from home, which caused a temporary increase in computer sales, however, the overall impact on optical storage laser revenue was quite small.

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Laser revenue for the medical segment has been heavily impacted by the pandemic as people have withdrawn from non-essential medical procedures such as dental, eye and cosmetic appointments. Dental and cosmetic lasers saw a significant drop in revenue compared to 2019. End user sectors including medical and aesthetics, semiconductors and electronics, commerce and instrumentation and sensing , have seen a decline in demand for laser technology. However, optical communications and scientific and military research supported the growth of the market during this period. The transition to the work-from-home model created a need for high-speed data transmission, thus creating a huge demand for laser diodes.

Main findings in the Laser Technology Market To study:

To provide effective analysis, meticulous research® has segmented this market on the basis of type (Solis laser, gas laser, liquid laser, semiconductor laser), application (laser processing, optical communication, others), end user (industrial, semi- driver and electronics, automotive, telecommunications, aerospace and defense, healthcare, commercial users and other end users.) and geography (Asia-Pacific, North America, Europe, Latin America, Middle East and Africa)

Based on the type, the solid-state laser segment is expected to occupy the largest share of the laser technology market in 2020. The rapid growth of solid-state lasers is due to the wide adoption of lasers in several industries such as electronics, electronics, etc. manufacturing, medical, among others. However, the semiconductor laser segment is expected to grow with the highest CAGR during the forecast period. The growing demand for semiconductor lasers in 3D printing and healthcare industry has driven the growth of laser technology market in the future.

Based on the application, the laser processing segment is expected to hold the largest share of the laser technology market in 2020. Laser processing provides precise and precise output, which increases the adoption of the process in various industries. Hence, contributing to the growth of the laser technology market during the forecast period. Optical communications segment is expected to grow with the highest CAGR during the forecast period. In optical communication, laser is used for data centers, data transmission, underwater communication, space communication, military system, radar, satellites, among others, which increase the market growth of laser technology during the forecast period.

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Based on the region, the laser technology market is segmented into Asia-Pacific, North America, Europe, Latin America, Middle East and Africa. Asia-Pacific is expected to hold the largest market share in this market, followed by North America. The largest share of Asia-Pacific is mainly attributed to increased manufacturing activity in countries like China, Japan, South Korea and India, the presence of the largest electronics market consumer and automotive industries in China, the proliferation of data centers and the huge demand for hyper lasers in China. However, the North America laser technology market is expected to register the highest CAGR during the forecast period.

The major players operating in the global laser technology market are Coherent, Inc. (United States), IPG Photonics Corporation (United States), TRUMPF GmbH + Co. KG (Germany), Lumentum Holdings Inc. (United States) ), Jenoptik AG (Germany), Novanta Inc. (United States), LUMIBIRD Group (France), LaserStar Technologies Corporation (United States), Epilog Laser (United States), Han’s Laser Technology Industry Group Co., Ltd. (China), MKS Instruments, Inc. (United States), Gravotech Marking (France), Corning Incorporated (United States), Eurolaser GmbH (Germany) and BYSTRONIC Laser AG (Switzerland).

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Scope of the report

Laser Technology Market, By Type

  • Semiconductor lasers

    • Fiber lasers

    • Ruby lasers

    • YAG Lasers

    • Thin disc lasers

  • Gas lasers

    • CO2 lasers

    • Excimer lasers

    • He-Ne lasers

    • Argon lasers

    • Chemical lasers

  • Liquid lasers

  • Semiconductor lasers

Laser Technology Market, By Application

  • Laser treatment

    • Macrotreatment

    • Microprocessing

    • Marking & Engraving

  • Optical communications

  • Other applications

Laser Technology Market, By End User

Laser Technology Market, By Geography

  • North America

  • Europe

    • Germany

    • France

    • Spain

    • UK

    • Italy

    • Rest of Europe (RoE)

  • Asia-Pacific (APAC)

  • Latin America

  • Middle East and Africa

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In the midst of this crisis, Meticulous Research® Continuously assesses the impact of the COVID-19 pandemic on various submarkets and enables global organizations to strategize for the post-COVID-19 world and support their growth. Let us know if you would like to assess the impact of COVID-19 on any industry here- https://www.meticulousresearch.com/custom-research

About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a limited liability company under the Companies Act of 1956. Since its incorporation, the company has grown into the leading provider of high-end market information in North America, Europe, Asia- Pacific, Latin America, Middle East and Africa. .

The name of our company defines our services, our strengths and our values. From the beginning, we have only made an effort to research, analyze and present critical market data with great attention to detail. Through meticulous primary and secondary research techniques, we have developed strong capabilities in data collection, interpretation and analysis, including qualitative and quantitative research with the best team of analysts. We design our market research reports, personalized studies, rapid research and consulting solutions, intelligent and value-driven, meticulously analyzed to meet the business challenges of sustainable growth.

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Source of content: https://www.meticulousresearch.com/pressrelease/408/laser-technology-market-2028

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