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$13.82 billion
- The global laser technology market grew from $12.52 billion in 2022 to $13.82 billion in 2023 at a compound annual growth rate (CAGR) of 10.4%.
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The market size of laser technology reached USD 19.3 billion in 2023 and is set to witness over 5% CAGR from 2024 to 2032, due to the advancements in manufacturing, rising demand for precision in medical and industrial applications and increasing adoption in telecommunications.
- USD 35 Billion
- 2024 to 2032
- 2023
- 2021-2023
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- Covid-19 Impact
- Latest Trends
- Driving Factors
- Restraining Factors
- Segmentation
- Regional Insights
- Key Industry Players
- Key Industry Developments
- Report Coverage
COVID-19 Crisis to Encourage Organizations to Adopt Laser-based Solutions COVID-19 pandemic is expected to adversely impact the laser technology market to a certain extent in the near future. Lockdowns imposed by the governments in various parts of the world have reasonably reduced the demand. This is attributed to the affected manufacturing sector...
Request a Free sampleto learn more about this report. Rising Investments and Implementation of Smart Factory Solutions to Aid Market Growth Laser technology plays a vital role in the industry 4.0 concept. With the emergence of industry 4.0 and smart factory solutions, organizations are witnessing increased output, improved efficiencies, and lower c...
Rising Adoption of Laser Technology in Medical Industry to Aid Market Growth The medical sector has witnessed a rapid surge. A medical laseris an intensive and non-invasive light source to treat tissues and offers quick healing without discoloration or scarring. It finds applications in the treatment of dermatology, urology, ophthalmology, and dent...
High Initial Cost to Inhibit Market Growth The adoption of laser type of technology solutions is growing at a rapid pace due to its multi-tasking abilities across various applications. The high upfront investment and vast venture capital funds are required to set up its architecture and infrastructure. The operation and setup process is much more c...
By Laser Type Analysis
To know how our report can help streamline your business, Speak to Analyst Solid Laser Segment to Gain Traction Owing to its Rising Adoption amongst Enterprises Based on the laser type, the laser technology market has been divided into a solid-state laser, liquid laser, gas laser, and others. Among these, the solid-state laser segment is expected to hold the largest market share during the predicted period. The segment growth is primarily driven by the increasing demand for pulsed lasers for...
By Application Analysis
Optical Communication Segment is Likely to Gain Traction Owing to the Latest Technological Advancements Based on the application, the market is further segregated into optical communication, laser processing, and others. The laser processing segment is anticipated to exhibit the highest laser technology market share in the coming years. The rising adoption in material processing applications is expected to drive the segment growth. The deployment of this technology in the manufacturing & indu...
By Industry Analysis
Increasing Adoption of Laser Technology across Healthcare Industry to Boost the Market Based on the industry, the market is segmented into IT and telecom, electronics and semiconductor, healthcare, manufacturing, automotive, aerospace and defense, and others. The manufacturing segment is likely to hold the dominant share during the forecast period. Laser-based solutions are implemented across the manufacturing sector as it delivers intense welding or cutting power with high precision. Their a...
To get more information on the regional analysis of this market, Request a Free sample Geographically, the laser technology market is segregated across five major regions, namely North America, South America, Europe, Middle East & Africa, and the Asia Pacific. North America is expected to exhibit the highest growth during the predicted period. The ...
Emphasis on Developing Advanced Laser Technology by Key Players to Consolidate Market Companies such as Coherent, Inc., IPG Photonics Corporation, The TRUMPF Group, and Corning Incorporated Inc., among others are some of the major players in the market. Major players are focused on developing laser-based solutions with advanced technology such as a...
June 2021 – Nittoku Co., Ltd, in collaboration with Furukawa Electric Co., Ltd, launched a laser welding machine for electric vehicle motors to bring efficiency to their customers.May 2021– Jenoptik launched an F-Theta lens for processed laser material applications. It is used for high-precision marking, labeling, and micro structuring for a wide range of materials. It offer...June 2020 – Coherent, a laser technology machine provider, launched FL4000CSM-ARM new 4kW fiber laser welding system for automotive applications. The new laser offers "enhanced welding capability f...January 2020 –TRUMPF high-technology company acquired French laser technology company GLOphotonics. This has helped develop a unique optical fiber for laser light applications from the source to th...To get information on various segments, share your queries with us The global laser technology market research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading applications of the product. Besides this, the report offers insights into the market trends and highlights ...
- 2019
- 2016-2027
- 2020-2027
20 hours ago · Wilmington, Delaware, United States, Transparency Market Research, Inc., July 16, 2024 (GLOBE NEWSWIRE) -- The laser technology market (レーザー技術市場) was projected to attain US$ 21.3 ...
The global laser technology market size was valued at USD 17.82 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 7.8% from 2023 to 2030. Laser technology has found widespread use and success across various industries, including manufacturing, automotive, chemical production and processing, and healthcare.
- The global laser technology market size was estimated at USD 17.82 billion in 2022 and is expected to reach USD 19,304.2 million in 2023. Read More
- The global laser technology market is expected to grow at a compound annual growth rate of 7.8% from 2023 to 2030 to reach USD 32.69 billion by 203...
- Asia Pacific dominated the laser technology market with a share of 43% in 2022. This is attributable to the rising research & development expenditu...
- Some key players operating in the laser technology market include Coherent, Inc., TRUMPF GmbH + Co. KG, Han's Laser Technology Industry Group Co.,...
- Key factors that are driving the laser technology market growth include significant adoption in a variety of industry verticals due to its multitas...
The global laser technology market size is forecast to increase from US$ 16.7 billion in 2022 to US$ 35.4 billion by 2032. Overall laser technology demand will surge at 7.8% CAGR between 2022 and 2032.
- (347) 918-3531
- 2022 to 2032
- US$ 16.7 billion
- US$ 35.4 billion
- The market was valued at US$ 16.7 billion in 2022.Read Report
- The growth potential of the market is 7.8% through 2032.Read Report
- The global market size is estimated to reach US$ 35.4 billion by 2032.Read Report
- 600 Group, Bystronic Lasers and Coherent, Inc. are the key market players.Read Report
- Growing awareness about the advantages of laser-based techniques will elevate demand.Read Report
The global laser technology market size reached US$ 17.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 34.9 Billion by 2032, exhibiting a growth rate (CAGR) of 7.83% during 2024-2032.
Laser Technology Market is expected to reach a value of USD 20.3 billion in 2023, and it is further anticipated to reach a market value of USD 40.8 billion by 2032 at a CAGR of 8.1%.
