Laser Technology Market worth $23.2bn by 2031 - Leading Key Players - Fiber Lasers, Ruby Lasers, YAG Lasers ,Thin-Disk LasersGlobal Laser Technology Market is expected to reach $23.2bn by 2031 growing at a CAGR of 7.3% between 2021-2031.
Global Laser Technology report from Global Insight Services is the single authoritative source of intelligence on Laser Technology market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters' and PESTLE analysis. 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.
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Laser technology is a type of technology that uses a focused beam of light to cut, engrave, or otherwise alter materials. 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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Marking & Engraving
IPG Photonics Corporation
Lumentum Holdings Inc.
LaserStar Technologies Corporation
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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.
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