Dublin, Jan. 03, 2019 (GLOBE NEWSWIRE) -- The "Laser Technology Market by Type (Carbon Dioxide Laser, Fiber Laser, and Solid State Laser), Revenue (Laser Revenue and System Revenue), Application (Laser Processing and Optical Communications), End User, Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The overall laser technology market is expected to grow from USD 12.9 billion in 2018 to USD 16.9 billion by 2024, at a CAGR of 4.65%.
Huge demand from the healthcare vertical, enhanced performance over traditional material processing techniques, and shift toward production of nano and micro devices are the key factors driving the growth of this market. However, regulatory compliances could likely act as the restraint for the market's growth.
Others laser type is likely to grow at the highest CAGR during the forecast period
The market for others laser type is expected to grow at the highest CAGR within the overall laser technology market during the forecast period. The growth can be attributed to increasing demand for several lasers including X-ray laser, dye laser, excimer laser, argon laser, chemical laser, and helium-neon laser. Applications such as in dense plasmas, X-ray microscopy, medical imaging, aerospace & defense, and surface research boost demand for X-ray lasers; the ability to generate light pulses of various wavelengths drives excimer lasers' demand.
Laser processing application to hold the largest share of the laser technology market in 2018
Laser processing application accounts for the largest share of the laser technology market. The leading position of laser processing, in terms of market size, can be attributed to its ability to provide better quality and reliability and more precise output than conventional mechanical methods. Laser processing involves using laser for applications such as materials processing, micro processing, and advanced processing.
APAC is expected to hold a significant share of the laser technology market by 2024
APAC is expected to account for the largest share of the laser technology market. Continuous demand for cost-effective and fast processing laser machine tools from semiconductor, automotive, industrial, and telecommunications verticals are expected to drive the growth of the laser technology market in APAC. APAC has been ahead in terms of adoption of laser technology products and solutions compared to other regions. The region's huge population, increasing R&D investments, and growing manufacturing and electronics sectors are expected to drive the growth of the laser technology market.
Major players profiled in this report:
Key Topics Covered:
1 Introduction
1.1 Study Objectives
1.2 Definition
1.3 Study Scope
1.4 Currency
1.5 Limitations
1.6 Stakeholders
2 Research Methodology
2.1 Introduction
2.2 Market Size Estimation
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Laser Technology Market
4.2 Laser Technology Market in APAC, By Country and End User
4.3 Laser Technology Market, By Revenue
4.4 Laser Technology Market, By Type
4.5 Laser Technology Market, By Application
4.6 Laser Technology Market, By End User
4.7 Laser Technology Market, By Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand From Healthcare Vertical
5.2.1.2 Enhanced Performance of Lasers Over Traditional Material Processing Techniques
5.2.1.3 Shift Toward Production of Nano and Micro Devices
5.2.2 Restraints
5.2.2.1 Regulatory Compliance
5.2.3 Opportunities
5.2.3.1 Adoption of Laser Technology in Various Verticals for Quality Check
5.2.3.2 Increasing Use of Lasers for Optical Communications
5.2.4 Challenges
5.2.4.1 Requirement for Low-Cost Solutions
5.3 Value Chain Analysis
6 Laser Technology Market, By Type
6.1 Introduction
6.2 CO2 Laser
6.2.1 Wide Range of Commercial, Industrial, and Military Applications Drives Demand for CO2 Laser
6.3 Fiber Laser
6.3.1 Features Such as High Output Power, Flexible Fiber Light, Compact Size, and High Optical Quality Drive Demand for Fiber Laser
6.4 Solid State Laser
6.4.1 Yag Laser
6.4.1.1 High Thermal Conductivity Makes Yag Laser Suitable for Several Applications
6.4.2 Semiconductor Laser
6.4.2.1 Semiconductor Laser is Compact, Making It Suitable for Several Applications
6.4.3 Thin Disk Laser
6.4.3.1 Ability to Generate High Peak Power in Picosecond Pulses Boosts This Types Demand
6.4.4 Ruby Laser
6.4.4.1 Applications Such as Pigmented Lesions, Hair, Tattoo Removal and Melasma Treatment Boost Its Demand
6.5 Other Laser
6.5.1 X-Ray Laser
6.5.1.1 Applications Such as in Dense Plasmas, X-Ray Microscopy, Medical Imaging, Aerospace & Defense, and Surface Research Boost Its Demand
6.5.2 Dye Laser
6.5.2.1 Several Applications in Healthcare Vertical Support Its Growing Demand
6.5.3 Excimer Laser
6.5.3.1 Ability of Excimer Laser to Generate Light Pulses of Various Wavelengths Drives Its Demand
6.5.4 Argon Laser
6.5.4.1 Ability to Generate Discrete Laser Lines Or Wavelengths Boosts Its Demand
6.5.5 Chemical Laser
6.5.5.1 Chemical Lasers Have Significant Applications in Aerospace & Defense
6.5.6 Helium-Neon Laser
6.5.6.1 Ability to Produce Various Wavelengths Boosts Its Demand
7 Laser Technology Market, By Revenue
7.1 Introduction
7.2 System Revenue
7.2.1 Applications in Several Verticals, Such as Industrial, Commercial, Automotive, and Medical, to Drive System Revenue
7.3 Laser Revenue
7.3.1 Revenue Generated From Sales of Several Types of Lasers Drives Laser Revenue Segment
8 Laser Technology Market, By Application
8.1 Introduction
8.2 Laser Processing
8.2.1 Macro Processing
8.2.1.1 Cutting
8.2.1.1.1 Fusion Cutting
8.2.1.1.1.1 Metals and Fusible Materials Cutting Drives Demand for Laser for Fusion Cutting
8.2.1.1.2 Flame Cutting
8.2.1.1.2.1 Suitability for Cutting Flat Sheets, Mild Steel, and Plates With High Thickness Drives Demand for Laser for Flame Cutting
8.2.1.1.3 Sublimation Cutting
8.2.1.1.3.1 Ability to Cut Material With Low Melting Point Boosts Demand of Lasers for Sublimation Cutting
8.2.1.2 Drilling
8.2.1.2.1 Single Pulse Drilling
8.2.1.2.1.1 Ability to Drill Various Sizes in 3d Surface Materials Drives Demand for Lasers for Single Pulse Drilling
8.2.1.2.2 Percussion Drilling
8.2.1.2.2.1 Ability to Drill Shorter-Diameter Holes Boots Demand for Lasers for Percussion Drilling
8.2.1.2.3 Trepanning Drilling
8.2.1.2.3.1 Usage of Trepanning Drilling Where the Laser Beam Diameter is Much Smaller Than the Hole Diameter Drives Its Demand
8.2.1.2.4 Helical Drilling
8.2.1.2.4.1 Usage of Helical Drilling for Producing Large and Deep Holes Drives Its Demand
8.2.1.3 Welding
8.2.1.3.1 Benefits in Terms of High Processing Welding Speeds, Thin and Small Weld Seams, Low Thermal Distortion, and No Tool Distortion Drive Demand for Lasers for Welding
8.2.1.4 Marking and Engraving
8.2.1.4.1 Suitability for Several Applications, Such as Printing, Hot-Branding, and Laser Bonding, Boosts Demand for Laser for Marking and Engraving
8.2.2 Micro Processing
8.2.2.1 Major Applications of Laser Micro Processing Include Printed Circuit Board (Pcb) Layouts, Semiconductor Lithography, and Micromachining Parts
8.2.3 Advanced Processing
8.2.3.1 Use of Laser for Laser Deposition Technology Drives Demand for Advanced Processing
8.3 Optical Communications
8.3.1 Laser Technology Devices are Extensively Used as High-Speed Transmitters in Analog and Digital Fiber Networks
8.4 Others
8.4.1 Other Laser has Applications in Several Verticals, Including Commercial, Industrial, Aerospace & Defense, and Automotive
9 Laser Technology Market, By End User
9.1 Introduction
9.2 Telecommunications
9.2.1 Telecommunications Vertical Accounted for Largest Market Share in 2017
9.3 Industrial
9.3.1 Expanding Applications in Manufacturing Expected to Drive Growth of Industrial End-User Vertical
9.4 Semiconductor & Electronics
9.4.1 Memory
9.4.1.1 Light-Based Memory Chips Expected to Drive Demand for Lasers in Memory Chips
9.4.2 Microprocessors
9.4.2.1 Tiny Lasers Fabricated on Silicon Will Drive Demand for Lasers in Microprocessors
9.4.3 Integrated Circuit
9.4.3.1 Photonic Integrated Circuits to Boost Demand for Lasers in Integrated Circuits
9.5 Commercial
9.5.1 Smartcard Marking is A Major Commercial Application of Laser Technology
9.6 Aerospace & Defense
9.6.1 Aerospace Industry
9.6.1.1 Lasers Find Application in Aircraft Manufacturing for Cutting Engineered Parts
9.6.2 Missile Industry
9.6.2.1 Lasers are Used in Semi-Active Laser Homing Missile Technology
9.6.3 Space Industry
9.6.3.1 Ability to Travel in Space Without Any Corruption Drives Lasers Demand
9.6.4 Combat Vehicle Industry
9.6.4.1 Possible Additional Security Features Achievable Through Laser Drive Its Demand
9.6.5 Ammunition & Weapon Industry
9.6.5.1 Utilization in Laser Guns to Boost Its Demand
9.7 Automotive
9.7.1 Solid State Laser and Fiber Laser are Commonly Used in Automotive Vertical
9.8 Medical
9.8.1 Accuracy and Precision Achievable Through Laser Drive Its Demand in Medical End-User Vertical
9.9 Research
9.9.1 Spectroscopy, Atmospheric Remote Sensing, Seismology, and Atmospheric Physics are Some of Major Applications of Laser in Research End-User Vertical
9.10 Others
9.10.1 Oil & Gas, Iron & Steel, Tobacco, Glass, Wood, Retail, and Plastic End-User Verticals Comprise Others Segment
10 Geographic Analysis
11 Competitive Landscape
11.1 Introduction
11.2 Ranking Analysis of Laser Technology Market Players
11.3 Competitive Scenario
11.3.1 Contracts/Partnerships/Agreements/Collaboration
11.3.2 Expansions
11.3.3 Mergers/Acquisitions
11.3.4 Product Launches
12 Company Profiles
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