PUBLISHER: The Business Research Company | PRODUCT CODE: 1650530
PUBLISHER: The Business Research Company | PRODUCT CODE: 1650530
Laser technology involves the emission of light through optical amplification based on stimulated emission of electromagnetic radiation. This technology produces a narrow beam of concentrated light, generated by a specialized machine. Laser technology finds applications in cutting hard materials and is utilized in various technical fields such as surgery and telecommunications. It is known for providing high-precision results in measuring both small and large distances.
The main types of laser technology include solid laser, liquid laser, and gas laser. Liquid lasers are optically pumped lasers where the gain medium is a liquid at room temperature. Applications of laser technology encompass laser processing, optical communications, and various other uses. End-users of laser technology span across telecommunications, industrial, semiconductor and electronics, commercial, aerospace and defense, automotive, medical, research, and other sectors.
The laser technology market research report is one of a series of new reports from The Business Research Company that provides laser technology market statistics, including laser technology industry global market size, regional shares, competitors with a laser technology market share, detailed laser technology market segments, market trends and opportunities, and any further data you may need to thrive in the laser technology industry. This laser technology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The laser technology market size has grown strongly in recent years. It will grow from $14.97 billion in 2024 to $16.28 billion in 2025 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to adoption in medical and surgical procedures, adoption in communication and data transmission, adoption in entertainment and display, increased use in semiconductor manufacturing, adoption in defense and military applications.
The laser technology market size is expected to see strong growth in the next few years. It will grow to $22.82 billion in 2029 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to adoption of green and fiber lasers, use in space exploration, use in laser art and design, biometric authentication, use in renewable energy. Major trends in the forecast period include quantum technologies, 5g and optical networks, laser beam steering, quantum dots and nanomaterials, laser-based microscopy.
The rising use of consumer electronic devices is anticipated to drive growth in the laser technology market in the coming years. Consumer electronics encompass electronic devices such as smartphones, televisions, and computers. Laser technology offers innovative solutions for the manufacturing of these consumer products. For example, in September 2024, Eurostat, a Europe-based intergovernmental statistical organization, reported that the production of high-tech electronics products increased from €355 billion in 2022 to €406 billion in 2023. Consequently, the growing usage of consumer electronic gadgets is expected to enhance demand for the laser technology market during the forecast period.
The growing industrial sector is expected to be a key driver of the laser technology market. The industrial sector, encompassing businesses involved in the production, manufacturing, processing, and distribution of goods and services, relies on laser technology for cutting, welding, marking, and various applications. This application ensures high precision, speed, and automation in manufacturing processes, ultimately enhancing efficiency and product quality. Industrial production in the United States witnessed a year-on-year increase of 3.3% in October 2022, highlighting the pivotal role of laser technology in driving industrial growth.
A notable trend in the laser technology market is the emergence of strategic collaborations. Companies within the laser technology sector are forming partnerships to bolster their new product development initiatives through the mutual sharing of technologies, aiming to fortify their market positions. For example, Trumpf, a German-based laser technology company, collaborated with Marvel Fusion, a German startup specializing in Chirped Pulse Amplification (CPA) lasers for revolutionary fusion techniques. This partnership seeks to expedite the development of their groundbreaking fusion technology. Similarly, Tematys, a Scottish laser technology company, joined forces with Chromacity, a UK-based manufacturer of compact femtosecond laser solutions. This collaboration aims to boost the sales of 'ultrafast' technology to industrial companies in France.
Leading companies in the laser technology market are concentrating on innovative technologies and products, such as fiber lasers, to facilitate deep melting, enhance processing speed, and reduce welding defects. A fiber laser utilizes optical fibers as the gain medium, resulting in a high-powered, focused laser beam that offers exceptional beam quality and efficiency. For example, in August 2024, BWT Beijing Ltd., a China-based electronics firm, introduced the world's first 200kW ultra-high-power industrial-grade fiber laser in Tianjin. This laser incorporates advancements in CTC chip integration, beam combining, femtosecond laser fiber inscription grating, and optical pressure measurement technology, focusing on high power, brightness, integration, and extended fiber delivery. This breakthrough is expected to significantly enhance the processing efficiency of ultra-thick metal plates, aiding the transformation of traditional manufacturing.
In March 2022, Luminar Technologies Inc., a technology company based in the US, acquired Freedom Photonics for $42.3 million. This acquisition is intended to bolster Luminar Technologies Inc.'s capabilities within the automotive sector, specifically in the advancement of cutting-edge LiDAR (light detection and ranging) technology. Freedom Photonics, LLC is a semiconductor manufacturing company located in the US.
Major companies operating in the laser technology market include IPG Photonics Corporation, Trumpf lasers Laser plc, Lumentum Operations LLC, Jenoptik AG, Novanta Photonics Inc., Coherent Inc., IPG Photonics Corporation, LUMIBIRD Group, LaserStar Technologies Corporation, Epilog Laser India Pvt. Ltd., Han's Laser Technology Industry Group Co. Ltd., MKS Instruments Inc., Gravotech Pvt. Ltd., Corning Incorporated, Eurolaser GmbH, BYSTRONIC Laser AG, Newport Corporation, Rofin-Sinar Technologies Inc., Amplitude Laser Group, Laser Quantum Ltd., NKT Photonics A/S, Quantel Group, SPI Lasers UK Ltd., Laserline GmbH, Raycus Fiber Laser Technologies Co. Ltd., Laserax Inc., Laser Components GmbH, Meller Optics Inc., JenLas Diodenlaser GmbH, Epilog Laser
Asia-Pacific was the largest region in the laser technology market in 2024. North America is expected to be the fastest-growing region in the laser technology market share during the forecast period. The regions covered in the laser technology market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the laser technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The laser technology market consists of sales of gas laser, solid-state laser, fiber lasers, dye lasers, and semiconductor laser. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Laser Technology Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on laser technology market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for laser technology ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The laser technology market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.