Global Laser Technology Market is estimated to USD 11.5 billion in 2020 and is predicted to reach USD 17.5 billion by 2025, growing at a CAGR of 8.6% during the forecast period (2020-2025)

Global Laser Technology Market is estimated to USD 11.5 billion in 2020 and is predicted to reach USD 17.5 billion by 2025, growing at a CAGR of 8.6% during the forecast period. Some of the major factors responsible for the growth of laser technology across the globe are enhancing demand from the healthcare industry and improved performance of lasers over traditional material processing techniques.

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On the basis of revenue, the laser technology market is categorized into laser revenue and system revenue. In 2020, the system revenue segment is expected to be the largest among all the segments and is projected to be fastest-growing, over the study period. The property of these systems to carry out a wide range of functions expands their utility in various sectors such as commercial, industrial, medical, and automotive.

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Asia-Pacific is the largest revenue contributor in the laser technology market. The Asia-Pacific region, in particular countries such as China, Taiwan, Japan, South Korea, and India, is experiencing an increase in terms of adoption of laser technology products and solutions compared with other regions.

Some of the major players in the global laser technology market include NeoPhotonics Corporation, Applied Laser Technology, Inc., Haas Laser Technologies, Inc., JENOPTIK AG, Lumentum Operations LLC, Laser Technology, Inc., PRIMA INDUSTRIE S.p.A., BYSTRONIC, MKS Instruments, LUMIBIRD, TRUMPF, IPG Photonics Corporation, Epilog Laser, and eurolaser GmbH.

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