The global laser technology market was valued at US$9.857 billion in 2017 and is projected to expand at a CAGR of 4.84% over the forecast period to reach US$13.089 billion by 2023. Laser technology offers high accuracy with minimum environment effect which is a major factor contributing to the growing popularity of lasers. The recent shift towards the production of nano and micro devices has been instrumental in driving the laser technology market growth. Rapid expansion of industries like healthcare, food and beverage, metallurgy and others is increasing the adoption of different types of lasers for various applications by key industry players. Adoption of lasers in healthcare industry is increasing rapidly because of their ability to offer significant improvements in treatment of diseases over the conventional methods. Geographically, North America and Europe hold a significant share in the global market owing to flourishing industries and the presence of a large number of market players in these regions. The market in Asia Pacific is expected to witness an impressive growth over the projected period. This growth is majorly be attributed to increasing investments by major market players in this region.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the laser technology value chain. Last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting. Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of this market.
Major industry players profiled as part of the report are Newport Corporation, Novanta Inc., IPG Photonics Corporation, and Coherent-ROFIN among others.
By Laser Type
Dye or Liquid
External Energy Source
By End-User Industry
Food and Beverage
Communication and Technology
Middle East and Africa