Laser Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 13.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Laser Market Analysis
The lasers market is expected to register a CAGR of over 13% during the forecast period.
In 2020, the lasers market was moderately affected due to the COVID-19 pandemic and the temporary shutdown of various industries. However, the increased manufacturing of electrical and electronics, medical devices, and automotive, where lasers are used in significant quantities, propelled the demand for lasers in 2021.
- Over the short term, the increasing demand for laser systems from the electronics industry is expected to drive market growth.
- Conversely, the high capital investment may hinder the laser market in the coming years.
- LiDAR technology is expected to offer new avenues to industry growth during the forecast period.
- Asia-Pacific dominated the market with a significant share and is estimated to continue its dominance during the forecast period. This growth is attributed to an upsurge in demand for lasers in the communications industry.
Laser Market Trends
This section covers the major market trends shaping the Lasers Market according to our research experts:
Communication Segment to Dominate the Market
- Laser systems provide communication through wireless technology, where the laser beam is used to transmit information through the atmosphere between two locations. Laser communication terminals (LCT) transmit and receive laser beams.
- This communication can be established between planets also. The laser diode is generally used to create a laser signal and for feedback. Laser communication is incorporated into fiber-optic networks when fiber is not practically used.
- Laser communication (LC) is a hundred times greater in bandwidth, has low power loss, a smaller antenna, requires less power for transmission, and is more secure than radiofrequency.
- The major advantage of laser fiber optics in communication is that several fibers are wrapped inside one cable, and each fiber contains information of billion bits. Thus, multiple signals can be transferred with high quality, especially for long-distance communications.
- Currently, India is the world's second-largest telecommunications market with a subscriber base of 1.16 billion and has registered strong growth in the last decade. In 2021, with growing mobile penetration, the telecom industry was valued at USD 37.36 billion.
- Additionally, with a daily increasing subscriber base, there have been a lot of investments and development in the sector. In January 2022, Google made an investment of USD 1 billion in Airtel through the India Digitization Fund.
- The abovementioned growth factors are expected to boost demand for lasers in communication over the forecast period.
Asia-Pacific to Dominate the Market
- China is the biggest and most rapidly growing market for lasers. Demand for industrial lasers and optical systems is increasing, presenting the photonics industry with great potential.
- The telecommunications industry in China experienced several waves of reforms in the last three decades toward liberalization and privatization. China is one of the largest telecommunications markets globally.
- Lasers are significantly used in the military and defense sectors. According to the Stockholm International Peace Research Institute (SIPRI), China, the world's second-largest spender, allocated around USD 293 billion to its military in 2021, witnessing a growth rate of 4.7% compared to 2020.
- According to the Indian Brand Equity Foundation (IBEF), Apple Inc., in 2021, manufactured 70% of mobile phones sold in India, a sharp increase from 30% recorded two years ago. This is a significant push toward the Make in India initiative, following the government's production-linked incentive (PLI) plan, which began in FY21.
- As of August 2021, the Tata Group announced plans to enter the semiconductor manufacturing business seeking a proportion of the USD 1 trillion high-tech electronics manufacturing sector.
- According to the Stockholm International Peace Research Institute (SIPRI), India's military spending ranked third highest in the world. In 2021, the country's military expenditure accounted for USD 76.6 billion, registering a growth rate of 0.9%, compared to 2020.
- All such factors portray that the laser market may boom in the Asia Pacific region with a handsome growth rate during the forecast period.
Laser Industry Overview
The lasers market is partially consolidated in nature. Some of the key players (not in any particular order) in the market include TRUMPF, Coherent Corp., Han's Laser Technology Industry Group Co. Ltd, Lumentum Operations LLC, and IPG Photonics Corporation.
Laser Market Leaders
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IPG Photonics Corporation
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TRUMPF
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Han's Laser Technology Industry Group Co., Ltd.
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Coherent Corp.
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Lumentum Operations LLC
*Disclaimer: Major Players sorted in no particular order
Laser Market News
- In October 2022, Lumentum Holdings Inc expanded its operations and advanced research and development in Slovenia for specialty optical fibers and related products. The facility includes a Center of Excellence for advanced research and development to devise fundamental laser component technology and products.
- In July 2022, IIVI Incorporated announced the acquisition of Coherent, Inc., forming a global leader in materials, networking, and lasers. The combined company will serve four markets, i.e., industrial, communications, electronics, and instrumentation.
Laser Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Demand for Laser Systems from the Electronics Industry
4.1.2 Other Drivers
4.2 Restraints
4.2.1 High Capital Investment
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
5.1 Type
5.1.1 Fiber Lasers
5.1.2 Diode Lasers
5.1.3 CO/CO2 Lasers
5.1.4 Solid State Lasers
5.1.5 Other Types
5.2 Application
5.2.1 Communications
5.2.2 Materials Processing
5.2.3 Medical and Cosmetics
5.2.4 Lithography
5.2.5 Research and Development
5.2.6 Military and Defense
5.2.7 Sensors
5.2.8 Displays
5.2.9 Other Applications (Marking, Optical Storage, Printing)
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 France
5.3.3.4 Italy
5.3.3.5 Rest of Europe
5.3.4 Rest of the World
5.3.4.1 South America
5.3.4.2 Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Coherent Corp.
6.4.2 EKSPLA
6.4.3 Han's Laser Technology Industry Group Co. Ltd
6.4.4 IPG Photonics Corporation
6.4.5 Jenoptik AG
6.4.6 Keyence Corporation
6.4.7 Lumentum Operations LLC
6.4.8 LUMIBIRD
6.4.9 Maxphotonics Co. Ltd
6.4.10 nLIGHT Inc.
6.4.11 Novanta Inc.
6.4.12 TRUMPF
6.4.13 Wuhan Raycus Fiber Laser Technologies Co. Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 LiDAR Technology
Laser Industry Segmentation
Laser stands for light amplification by stimulated emission of radiation. It is a single-wavelength light source that possesses high energy and can be accurately focused on transmitting that light onto a very small area. Laser finds its major application in material processing, cosmetics surgery, and defense. The laser market is segmented by type, application, and geography. By type, the market is segmented into fiber lasers, diode lasers, CO/CO2 lasers, solid-state lasers, and other types. By application, the market is segmented into communications, materials processing, medical and cosmetics, lithography, research and development, military and defense, sensors, displays, and other applications. The report also covers the market size and forecasts for the lasers market in 12 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).
| Type | |
| Fiber Lasers | |
| Diode Lasers | |
| CO/CO2 Lasers | |
| Solid State Lasers | |
| Other Types |
| Application | |
| Communications | |
| Materials Processing | |
| Medical and Cosmetics | |
| Lithography | |
| Research and Development | |
| Military and Defense | |
| Sensors | |
| Displays | |
| Other Applications (Marking, Optical Storage, Printing) |
| Geography | |||||||
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Laser Market Research FAQs
What is the current Lasers Market size?
The Lasers Market is projected to register a CAGR of greater than 13% during the forecast period (2024-2029)
Who are the key players in Lasers Market?
IPG Photonics Corporation, TRUMPF, Han's Laser Technology Industry Group Co., Ltd., Coherent Corp. and Lumentum Operations LLC are the major companies operating in the Lasers Market.
Which is the fastest growing region in Lasers Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Lasers Market?
In 2024, the Asia Pacific accounts for the largest market share in Lasers Market.
What years does this Lasers Market cover?
The report covers the Lasers Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Lasers Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Laser Industry Report
The global laser technology market is segmented by type and application, covering fiber lasers, diode lasers, CO/CO2 lasers, solid state lasers, and other types. Applications include communications, materials processing, medical and cosmetics, lithography, research and development, military and defense, sensors, displays, and other applications. The market is geographically segmented into Asia-Pacific, North America, Europe, and the rest of the world.
The market report provides a comprehensive industry analysis, including market size and market share, which are crucial for understanding the market trends and market growth. The market forecast and market outlook offer insights into future market predictions and industry outlook. The report also includes a historical overview and industry statistics, providing a detailed market review and industry overview.
Industry reports and industry research are essential for identifying market leaders and understanding the market segmentation. The report example and report PDF are available for those interested in a more detailed analysis. Market data and industry information are provided to support market analysis and industry sales projections. The industry trends and market value are also discussed, offering a complete picture of the market dynamics.
The growth rate of the laser technology market is an important metric, and the report includes a detailed market forecast. The industry size and market value are analyzed to provide a comprehensive understanding of the market's current state and future potential. Research companies can benefit from the extensive market research and industry research included in the report.
Overall, this market report is an invaluable resource for anyone looking to understand the global laser technology market, providing detailed insights into market segmentation, market growth, and market trends.
