New York, Sept. 30, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Laser Technology Global Market Report 2022" - https://www.reportlinker.com/p06323483/?utm_source=GNW
The global laser technology market is expected to grow from $11.38 billion in 2021 to $12.32 billion in 2022 at a compound annual growth rate (CAGR) of 8.2%. The laser technology market is expected to grow to $17.09 billion in 2026 at a compound annual growth rate (CAGR) of 8.5%.
The laser technology market consists of sales of laser technology solutions by entities (organizations, sole traders, and partnerships) that are used to give high accuracy results in measuring small and large distances.Laser technology refers to a device that will emit light through a method of optical amplification based on the stimulated emission of electromagnetic radiation.
It is a narrow beam of concentrated light that has been produced by a special machine. It has been used for cutting very hard materials, and in many technical fields such as surgery and telecommunications.
The main types of laser technology are solid laser, liquid laser, and gas laser.Liquid lasers are optically pumped lasers in which the gain medium is a liquid at room temperature.
The applications of laser technology include laser processing, optical communications, and other applications. The various end-users of laser technology include telecommunications, industrial, semiconductor and electronics, commercial, aerospace and defense, automotive, medical, research, and other end-users.
Asia-Pacific was the largest region in the laser technology market in 2021.North America is expected to be the fastest-growing region in the forecast period.
The regions covered in the laser technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The laser technology market research report is one of a series of new reports 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.
Increased usage of consumer electronic gadgets is expected to propel the growth of the laser technology market going forward.Consumer electronics refer to electronic devices such as smartphones, television, and computers.
Laser technology helps provide innovative solutions for the manufacturing of consumer electronics.For instance, in October 2021, according to The Economic Times, an Indian business newspaper, India has the highest mobile data consumption rate at 12 Gigabytes or GB per user a month in the world, and the country is adding 25 million new smartphone users every quarter.
Therefore, increased usage of consumer electronic gadgets is expected to boost demand for laser technology solutions during the forecast period.
Strategic collaborations are a key trend gaining popularity in the laser technology market.Companies operating in laser technology services are undergoing partnerships to enhance their new product development activities through mutual sharing of technologies and strengthen their market position.
For instance, in February 2022, Trumpf, a German-based laser technology company, partnered with Marvel Fusion, a German-based startup developing a revolutionary fusion technique based on Chirped Pulse Amplification (CPA) lasers.This collaboration hopes to speed the development of their revolutionary fusion technology.
Further, in March 2022, Tematys, a Scottish-based laser technology company collaborated with Chromacity, a UK-based manufacturer of compact femtosecond laser solutions and tunable optical parametric oscillators. This collaboration hopes to increase sales of its "ultrafast" technology to industrial companies in France.
In January 2021, TRUMPF, a German based industrial machine manufacturing company has acquired an 80% stake in Active Fiber Systems GmbH (AFS), for an undisclosed amount.With this acquisition, TRUMPF plans to retain the AFS location in Jena and build on the research-driven company’s independent standing after finalizing the takeover as majority stakeholder.
AFS is a Germany based company, develops, and manufactures ultrashort-pulse laser systems and fiber laser systems used primarily in science and research.
The countries covered in the laser technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Read the full report: https://www.reportlinker.com/p06323483/?utm_source=GNW
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