Laser Technology Market Business Scenario, Share, Growth, Insights, Industry Analysis, Trends and Forecasts Report 2030

by Emergen Research · October 20, 2022

The global laser technology market size was USD 12.44 Billion in 2021 and is expected to register a revenue CAGR of 8.6% during the forecast period, according to latest analysis by Emergen Research. Laser technology market revenue growth is primarily driven by factors such as rising adoption of laser technology in the electronics sector and medical applications and increasing adoption of various technologies emerging from laser-based applications such as Augmented Reality (AR) and Virtual Reality (VR), Vertical-Cavity Surface-Emitting Laser (VCSEL), Light Detection and Ranging (LiDAR). Laser technology offers high degree of adaptability, sustainability, productivity, and accuracy, hence it has found extensive usage and success in a wide range of sectors including manufacturing, chemical production and processing, automotive, and healthcare. As a result of their accuracy and precision, lasers enable physicians and surgeons to perform difficult surgical procedures and manufacturers to develop new medical equipment and designs. From laser eye surgery to development of new equipment and prosthesis, laser technology has enabled hospitals, physicians, surgeons, consultants, and nurses to provide superior treatment more quickly.

In the past, it was difficult and expensive to create complicated medical equipment owing to a lack of technology, however, with development of laser technology, medical workers now have access to unique, purpose-built tools and solutions. For instance, because of 3D laser printing technology, cost of producing prostheses has been reduced while production speed has improved. This advanced medical equipment is made possible not only because laser technologies are accurate and precise, but also because they are designed to be contamination-free. In addition, UV lasers leave no raised imprints and have no effect on surface of substance. Similarly, laser technology has enabled practitioners to assist their patients with issues ranging from cancer diagnostics and tumor removal to cutting tissue on a daily basis.

COVID-19 is motivating enterprises to use laser-based solutions. The pandemic disrupted supply chain process, allowing end-users to experience negative consequences in business and industrial processes. In addition, researchers throughout the world have been working on creating laser sensors that can identify the virus at early stage of infection, from nose swabs or saliva, in a matter of minutes. Increasing government investments and money raised by big businesses is also expected to fuel growth of this industry throughout pandemic. On 11 February 2020, the UK government invested £81 million (USD 98.1 million) in a new sophisticated imaging center that houses super-bright lasers capable of producing state-of-the-art 3D X-rays in just 40 seconds. This will assist to accelerate development of novel medical treatments, reducing manufacturing costs, and uncover design improvements.

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Some Key Highlights From the Report

The gas laser segment accounted for a moderate revenue share in 2021. CO2 lasers are commonly employed as industrial lasers for laser material processing, particularly for cutting and structuring plastic materials, wood, die boards, glass pieces, and other materials with high absorption at 10.6 m and power levels ranging from 20–200 W.
The macro processing segment accounted for a significant revenue share in 2021. Its applications vary from aerospace to production of jewelry. Laser welding works by focusing on highly concentrated beam of light on a tiny area, allowing the spot under laser beam to receive light and become incredibly active.
The automotive segment accounted for a significant revenue share in 2021. In the competitive field of automotive manufacturing, there appears to be little room for error. One way that automakers can employ is laser cutting, which is one of the most effective methods for ensuring precise quality cuts with clean edges and quick cycle time. Laser cutting technology can also be used for welding, cladding, engraving, and branding, in addition to cutting. As laser cutting is so versatile, it has become a vital tool in global automobile production business.
The North America market accounted for largest revenue share in 2021. Increasing R&D investments and growing electronics and manufacturing industries in the region are driving market revenue growth. In addition, rising healthcare infrastructures, increasing number of OEMs, as well as a growing amount of laser centers are expected to drive growth of the market in the region.
Some major companies in the global market report include Coherent, Inc., IPG Photonics Corporation, Trumpf, Lumentum Operations LLC., Jenoptik, Novanta Inc., Lumibird, LaserStar Technologies Corporation, Corning Incorporated, and Bystronic Group.
On 30^th March 2022, TRUMPF introduced a new laser-cutting process, at its INTECH trade event, which took place from May 17 to 20, 2022. The nano joint method keeps pieces in place using small support tabs that are formed at areas where laser does not cut all the way through the sheet, resulting in increased processing efficiency and reliability. These small tabs, or nano joints, prevent the metal from slipping or tipping while laser is cutting pieces.

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Competitive Landscape:

The latest study provides an insightful analysis of the broad competitive landscape of the global Laser Technology market, emphasizing the key market rivals and their company profiles. A wide array of strategic initiatives, such as new business deals, mergers & acquisitions, collaborations, joint ventures, technological upgradation, and recent product launches, undertaken by these companies has been discussed in the report. The report analyzes various elements of the market’s competitive scenario, such as the regulatory standards and policies implemented across the industry over recent years. Our team of experts has leveraged several powerful analytical tools, such as Porter’s Five Forces analysis and SWOT analysis, to deliver a comprehensive overview of the global Laser Technology market and pinpoint the fundamental growth trends.

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Segments Covered in this report are:

Type Outlook (Revenue, USD Billion; 2019-2030)
- Solid Laser
  1. Fiber Laser
  2. Ruby Laser
  3. Semi-conductor Laser
  4. Thin disk Laser
- Liquid Laser
  1. X-ray Laser
  2. Dye Laser
- Gas Laser
  1. Co2 Laser
  2. Excimer Laser
  3. He-ne Laser
  4. Argon Laser
  5. Chemical Laser
  6. Others

Application Outlook (Revenue, USD Billion; 2019-2030)
- Laser Processing
  1. Macro Processing
  2. Micro Processing
  3. Advanced Processing
- Optical Communication
- Others

End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Telecommunication
- Industrial
- Semiconductor & Electronics
  1. Memory
  2. Microprocessors
  3. Integrated Circuit
- Commercial
- Aerospace & Defense
  1. Aerospace Industry
  2. Missiles Industry
  3. Space Industry
  4. Combat Vehicles Industry
- Automotive
- Medical
  1. Laser Vision Correction
  2. Confocal Microscope
  3. Optogenetics
- Research
- Others

Key Points Covered in This Section:

Regional contribution
Estimated revenue generation
Vital data and information about the consumption rate in all the leading regional segments
An expected rise in market share
Forecast growth in the overall consumption rate

Report Highlights:

Besides offering a vivid depiction of the global Laser Technology business sphere and its fundamental operations, the latest report provides the industrial chain analysis and list down the current and future market trends and growth opportunities.
The report includes information on the present and historical market scenarios, which helps forecast the market conditions over the next eight years (2020-2027).
The report scrutinizes the salient factors influencing the growth of the market in the near future.
The strategic marketing recommendations, crucial information related to the new market entrants, and expansion plans of various businesses are poised to provide the reader with a competitive edge in the market.

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