NEW YORK, Sept. 30, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the “2022 Laser Technology Global Market Report” report – https://www.reportlinker.com/p06323483/?utm_source=GNW
The global laser technology market is expected to grow from USD 11.38 billion in 2021 to USD 12.32 billion in 2022, at a compound annual growth rate (CAGR) of 8.2%. The laser technology market is expected to grow at a compound annual growth rate (CAGR) of 8.5% to $17.09 billion in 2026.
The laser technology market consists of laser technology solutions sold by entities (organizations, exclusive traders, and partners) that are used to provide high-precision results when measuring large and small distances. Laser technology refers to a device that emits light by some means or optical amplification based on stimulated emission of electromagnetic radiation.
It is a narrow beam of light produced by a special machine. It has been used to cut very hard materials and is used in many technical fields such as surgery and telecommunications.
The main types of laser technology are solid-state lasers, liquid lasers, and gas lasers. Liquid lasers are optically pumped lasers in which the gain medium is liquid at room temperature.
Applications of laser technology include laser processing, optical communications, and other applications. 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 is the largest region for the laser technology market in 2021. North America is expected to be the fastest growing region during 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 statistics on the Laser Technology market including the Laser Technology industry global market size, regional share, competitors with Laser Technology market shares, detailed Laser Technology 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 provides a complete perspective of everything you need and an in-depth analysis of the current and future scenarios of the industry.
Increasing usage of consumer electronics is expected to drive the growth of the laser technology market. Consumer electronics refers to electronic devices such as smartphones, televisions, and computers.
Laser technology helps provide innovative solutions for the manufacture of consumer electronics. For example, in October 2021, Indian business newspaper The Economic Times reported that India had the highest rate of mobile data consumption at 12 GB or GB per user per month. Globally, the country adds 25 million smartphone users every quarter.
Hence, increasing usage of consumer electronics is expected to drive the demand for laser technology solutions over the forecast period.
Strategic cooperation is a major trend that is gaining popularity in the laser technology market. Companies engaged in laser technology services are forming partnerships to enhance their new product development activities and strengthen their market positions by sharing technologies with each other.
For example, in February 2022, German laser technology company Trumpf teamed up with German startup Marvel Fusion to develop a revolutionary fusion technology based on a chirped pulse amplification (CPA) laser. Their revolutionary fusion technology.
Additionally, in March 2022, Scotland-based laser technology company Tematys partnered with Chromacity, a UK-based manufacturer of compact femtosecond laser solutions and tunable optical parametric oscillators. The partnership hopes to increase sales of its “ultrafast” technology to French industrial companies.
In January 2021, German industrial machinery manufacturer TRUMPF acquired an 80% stake in Active Fiber Systems GmbH (AFS) for an undisclosed sum. With this acquisition, TRUMPF plans to retain the AFS site in Jena and to maintain an independent position as a majority shareholder in the research-driven company following the acquisition.
AFS is a German company that develops and manufactures ultrashort pulse laser systems and fiber laser systems mainly for scientific research.
The countries covered in the Laser Technology Market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the United Kingdom, and the United States.
Read the full report: https://www.reportlinker.com/p06323483/?utm_source=GNW
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