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Laser Technologies, Components & Applications Market Worth $19.88 Billion in 2017

According to a new market research report “Laser Technology Market by Types (Fiber Laser, CO2 Laser, Solid‐state Laser, Excimer Laser, Dye Laser, Diode Laser) & Applications - Global Forecast and Analysis (2012 - 2017)”, the total laser market is expected to reach $19.88 billion by 2017 at a CAGR of 19.2% from 2012 to 2017.

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There have been notable advances in the field of lasers over the last decade. The green lasers can prove to be a vital technology in terms cost reduction and output power. The laser industry is surging briskly not only in terms of technological advances, but also in terms of implementation in new applications sectors. With the advent of globalization, economies have expanded and lasers are used for more widespread industrial applications linked to automation and next generation technologies.

The primary factors which are going to drive the laser technology market in the near future are increase in military spending, growth in the automotive industry, advancement in the industrial market and wide application in medical treatment. Laser technology is taking a quantum leap in the field of healthcare. Laser technology is prevalently used in applications like cutting and welding, marking and engraving, skin care etc.

The new Dynamic Light Spot technology, introduced in a concept car called the BMW i8, would identify and illuminate perambulators with a bright, targeted beam which would resemble the sunlight.

APAC offers a productive market to laser and laser enabled manufacturers. This can be accredited to the developing countries like India, China and Korea etc. The laser technology market is experiencing a paradigm shift from fiber and CO2 lasers to disc lasers, femtosecond lasers and Quantum cascade lasers wherein the players of this market are concentrating on developing innovative products.

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