Laser Technology Market To Rise at 5.33% CAGR to 2022: Optical Communication Application Witness Highest Growth

The laser technology market is expected to grow from USD 10.09 billion in 2015 to reach USD 14.67 billion by 2022, at a CAGR of 5.33% between 2016 and 2022. Growing focus of manufacturers and industrialists on implementing laser technology in the manufacturing processes is one of the major driving factors for this market. In addition to this, the increasing adoption of laser technology in biology, scientific research, and medical sectors due to its benefits is also accelerating the growth of the laser technology market. Complete report on laser technology market spread across 161 pages, profiling 10 companies and supported with 70 tables and 66 figures is now available at .

The market in APAC is expected to hold the largest share of the laser technology market and to witness the highest growth rate during the forecast period. This growth can be credited to the high adoption of this technology in this region, especially in China and Japan. The manufacturing companies based out of China and Japan are increasingly making use of laser technology-based products for material processing which is leading to the growth of this market in APAC. Rapid modernization in the countries of APAC has accelerated the growth, especially of the semiconductor & electronics vertical which has ultimately led to the growth of the laser technology market in this region.

The application of laser in optical communication has been one of the driving factors for the development of the laser technology. Laser has shorter wavelength and is less divergent than radio signals due to which it can achieve higher data rates and consume lesser power for data transmission. These features, coupled with low-payload weight, have made laser communication terminals interesting for applications such as space telescopes, on-board satellites, and scientific space probes.

The key players in the laser technology market include Coherent, Inc. (U.S.), Trumpf Group (Germany), IPG Photonics Corp. (U.S.), ROFIN-SINAR Technologies, Inc. (U.S.), Newport Corp. (U.S.), Jenoptik AG (Germany), Lumentum Holdings, Inc. (U.S.), GSI Group, Inc. (U.S.), Han's Laser Technology Industry Group Co., Ltd. (China), and Epilog Laser (U.S.) among others. Priced at $4650 for a single user PDF, Inquire Before Buying on “Laser Technology Market by Type (Solid, Liquid, Gas), Application (Optical Communication, Laser Processing), and Vertical and Geography - Analysis & Forecast to 2022” research report can be requested at .

On a related note, another research titled Laser Processing Market Global Forecasts to 2022 says, the laser processing market is estimated to grow from USD 6.40 billion in 2015 to USD 9.75 billion by 2022, at a CAGR of 6.13% from 2016 to 2022. The laser processing technology market for defense, architecture, and automotive sectors is also expected to witness growth during the forecast period. Companies like Coherent, Inc. (U.S.), IPG Photonics Corporation (U.S.), ROFIN-SINAR Technologies Inc. (U.S.), Trumpf Group (Germany), Newport Corporation (U.S.), Jenoptik AG (Germany), Eurolaser GmbH (Germany), Epilog Laser (U.S.), Alltec GmbH (Germany) and Lumentum Holdings Inc. (U.S.) have been profiled in this 190 pages research report available at .

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