Laser Technology Market is set for lucrative growth during 2021-2031 | Size, Share, Demand and Opportunities Analysis

According to a new market research report published by Global Insight Services “Laser Technology Market is expected to reach $23.2bn by 2031 growing at a CAGR of 7.3% between 2021-2031”. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

Laser technology is a type of technology that uses a focused beam of light to cut, engrave, or otherwise alter material. The market for laser technology is driven by the increasing demand from the automotive and aerospace industries. In the automotive industry, laser systems are commonly used to cut airbag textile and composite materials.

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Key Players:

• IPG Photonics Corporation
• Lumentum Holdings Inc.
• Novanta Inc.
• LaserStar Technologies Corporation
• Epilog Laser
• Gravotech
• Bystronic Lasers

Key Trends and Drivers:

• The surge in demand from the healthcare sector is a key factor driving the laser technology industry forward. A medical laser is a non-invasive, high-intensity light source that treats tissues and promotes rapid healing without discoloration or scarring. This laser is used in dermatology, urology, ophthalmology, and dentistry to treat a variety of conditions. The treatment of a variety of ailments, as well as the growing need for non-invasive therapies, necessitate the use of medical lasers.
• The use of laser processing in material processing applications such as cutting, welding, engraving, and others is accelerating the advancement of laser technology. Laser processing technologies are in high demand, particularly for ultra-strong, ultra-thin, and ultra-clean glass processing.
• Growing demand from automotive industry, increasing demand for high-precision equipment, and rapid technology advancements are also driving this market forward.

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Market Segments:

 By Type

• Solid-state Lasers
  • Fiber Lasers
  • Ruby Lasers
  • YAG Lasers
  • Thin-Disk Lasers
• Gas Lasers
  • CO2 Lasers
  • Excimer Lasers
  • He-Ne Lasers
  • Argon Lasers
  • Chemical Lasers
• Liquid Lasers
• Semiconductor Lasers 

By Application

• Laser Processing
  • Macro processing
    • Cutting
    • Drilling
    • Welding
  • Micro processing
  • Marking & Engraving
• Optical Communications 

By End Use Industry

• Healthcare
• Automotive
• Telecommunications
• Industrial
• Semiconductor & Electronics
• Aerospace & Defense

Reasons to buy Laser Technology Market Report:

• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market 

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Key Questions answered in the report:

• How is the market structured and what the key drivers and trends of this industry?
• How is the market segmented and what is the size of each segment?
• Which segments and geographies provide best growth opportunities?
• What’s the competitive landscape and positioning of players in this market?
• What is the impact of latest events such as Covid-19 and Russia-Ukraine conflict on the market?

About Global Insight Services:

Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.

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