The lasers market was valued at USD 16,705.2 million in 2021, and it is expected to register a CAGR greater than 12% during the forecast period.

The market had a positive impact in the year 2021. Manufacturing of electrical and electronics, medical devices, and automotive, where lasers are used in significant quantities, which have increased the demand for the market studied in 2021. It is expected to see a positive growth in the coming years due to increase in the technological investments in various sectors.

Key Highlights

• Over the short term, the increasing demand for laser systems from the electronics industry is expected to drive the market's growth.
• The communication segment dominated the market. Moreover, the medical and cosmetics segment is likely to record the highest CAGR during the forecast period.
• Asia-Pacific dominated the market with a significant share, and it is estimated to continue its dominance during the forecast period.

Key Market Trends

Communication Segment to Dominate the Market

• Communication is provided by laser systems through wireless technology, where the laser beam is used to transmit information through the atmosphere between two locations. The laser communication terminals (LCT) transmit and receive laser beams.
• This communication can be established between planets also. The laser diode is generally used to create a laser signal and alsofor feedback. When fiber is not practically used, laser communication is then incorporated into fiber-optic networks.
• Laser communication (LC) is a hundred times greater in bandwidth, has low power loss, and requires less power for transmission, smaller antenna, and is more secured than radiofrequency.
• The major advantage of laser fiber optics in communication is that several fibers are wrapped inside one cable, and each fiber contains information of billion bits. Thus, multiple signals can be transferred with high quality, especially for long-distance communications.
• The above-mentioned advantages and applications are expected to boost the demand for lasers in communication over the forecast period

Asia-Pacific to Dominate the Market

• China is the biggest and rapidly growing market for lasers. Demand for industrial lasers and optical systems is increasing, presenting the photonics industry with a great deal of potential.
• The telecommunications industry in China experienced several waves of reforms in the last three decades toward liberalization and privatization. China is one of the largest telecommunications markets globally.
• According to the Indian Brand Equity Foundation (IBEF), Apple Inc., in 2021, manufactured 70% of mobile phones sold in India, a sharp increase from 30% recorded two years ago. This is a significant push toward the Make in India initiative, following the government’s production-linked incentive (PLI) plan, which began in FY21.
• As of August 2021, the Tata Group announced plans to enter the semiconductor manufacturing business seeking a proportion of the USD 1 trillion high-tech electronics manufacturing sector.
• All such factors portray that the study market may boom in the Asia Pacific region with a handsome growth rate during the forecast period.

Competitive Landscape

The lasers market is partially consolidated in nature, with the presence of approximately 200 companies all over the world, with China alone having more than 100 companies. Some of the key players (not in any particular order) in the market include TRUMPF, II-VI Incorporated, Han's Laser Technology Industry Group Co. Ltd, Coherent Inc., and IPG Photonics Corporation.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

• 1 INTRODUCTION

  • 1.1 Study Assumptions

  • 1.2 Scope of the Study

• 2 RESEARCH METHODOLOGY

• 3 EXECUTIVE SUMMARY

• 4 MARKET DYNAMICS

  • 4.1 Drivers

    • 4.1.1 Increasing Demand for Laser Systems from the Electronics Industry

    • 4.1.2 Other Drivers

  • 4.2 Restraints

    • 4.2.1 High Capital Investment

  • 4.3 Industry Value-Chain Analysis

  • 4.4 Porter's Five Forces Analysis

    • 4.4.1 Bargaining Power of Suppliers

    • 4.4.2 Bargaining Power of Buyers

    • 4.4.3 Threat of New Entrants

    • 4.4.4 Threat of Substitute Products and Services

    • 4.4.5 Degree of Competition

• 5 MARKET SEGMENTATION

  • 5.1 Type

    • 5.1.1 Fiber Lasers

    • 5.1.2 Diode Lasers

    • 5.1.3 CO/CO2 Lasers

    • 5.1.4 Solid State Lasers

    • 5.1.5 Other Types

  • 5.2 Application

    • 5.2.1 Communication

    • 5.2.2 Material Processing

    • 5.2.3 Medical and Cosmetics

    • 5.2.4 Lithography

    • 5.2.5 Research and Development

    • 5.2.6 Military and Defense

    • 5.2.7 Sensors

    • 5.2.8 Displays

    • 5.2.9 Other Applications (Marking, Optical Storage, Printing)

  • 5.3 Geography

    • 5.3.1 Asia-Pacific

      • 5.3.1.1 China
      • 5.3.1.2 India
      • 5.3.1.3 Japan
      • 5.3.1.4 South Korea
      • 5.3.1.5 Rest of Asia-Pacific

    • 5.3.2 North America

      • 5.3.2.1 United States
      • 5.3.2.2 Canada
      • 5.3.2.3 Mexico

    • 5.3.3 Europe

      • 5.3.3.1 Germany
      • 5.3.3.2 United Kingdom
      • 5.3.3.3 France
      • 5.3.3.4 Italy
      • 5.3.3.5 Rest of Europe

    • 5.3.4 Rest of the World

      • 5.3.4.1 South America
      • 5.3.4.2 Middle East & Africa

• 6 COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

  • 6.2 Market Share Analysis

  • 6.3 Strategies Adopted by Leading Players

  • 6.4 Company Profiles

    • 6.4.1 Coherent Inc

    • 6.4.2 EKSPLA

    • 6.4.3 Han's Laser Technology Industry Group Co. Ltd

    • 6.4.4 IPG Photonics Corporation

    • 6.4.5 Jenoptik AG

    • 6.4.6 Keyence Corporation

    • 6.4.7 Lumentum Operations LLC

    • 6.4.8 LUMIBIRD

    • 6.4.9 Maxphotonics Co. Ltd

    • 6.4.10 nLIGHT Inc.

    • 6.4.11 Novanta Inc

    • 6.4.12 TRUMPF

    • 6.4.13 Wuhan Raycus Fiber Laser Technologies Co. Ltd

    • 6.4.14 II-VI Incorporated

• 7 MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 LiDAR Technology