Laser Technology Market Worth $17.97 Billion by 2025 Fueled by Emerging Technologies Such as LiDAR, VCSEL, AR/VR Boosting the Demand in Varied Industry Domains
Emerging opportunities in Asia-Pacific endorsed by Self driving cars, 3D printing applications.
NEW YORK, March 18, 2019 /PRNewswire-PRWeb/ -- Laser Technology Market and Patent Landscape Report - 2025 by End-users (Industrial, Automotive, Telecommunication, Healthcare and Medical, Defense and Aerospace, Electronics And Research), by Product types ( Fiber, Co2, Solid State, Others ), by Applications ( Instrumentation and Printing, Optical Communication and Others ), by Regional segmentation ( North America, Europe, Asia Pacific (APAC) and Rest of World (RoW) ), by Patent Activities (key patent assignees and inventors analysis, academic and corporate collaborations, application and product type analysis, patent litigation). The global market for laser technology in the year 2018 was estimated at $12.95 billion which is projected to grow to $17.97 billion in 2025 with a seven-year CAGR of 4.78 percent.
The report global Laser Technology Market and Patent Landscape Report - 2025 is segmented by End-users, Product types, Applications, Regional segmentation and by Patent Activities. The report forecasts the sizes and trends of the global market as well as its sub-segments for the period 2018 to 2025. The report focuses on critical market segments to identify the key market and technology trends. Market driving factors and constraints have been considered to estimate global laser technology market potential.
In this Laser Technology Market and Patent Landscape Report - 2025, patent trends have been presented in detail to understand the research and development activities happening around the world in the last five years. The report will also present a competitive landscape focusing on active players in the industry, growth strategies, value chain analysis and detailed profiling of critical companies.
Get your analysis on 57 market figures and 18 market data tables in 174 page up to date report and detailed TOC on Laser Technology Market and Patent Landscape Report.
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Fiber laser market is projected to grow from $3.82 billion in 2018 to $6.68 billion in 2025 with a CAGR of 8.32 percent.
Fiber laser market will grow by almost double the CAGR as of CO2. Fiber lasers are projected to have a maximum share of the market in 2025 gaining 7 percent over its 2018 market share. The fast growth of fiber lasers is also going to affect the market share of SSL.
USA is one of the largest markets for laser technology and has the maximum number of laser-related companies
The growing R&D in the region in the automotive sector focusing on self-driven cars is expected to boost the demand for lasers. Also, the growing market of 3D printing and a boost in demand for 3D printed images are driving the North American market. The laser market in Europe is expected to grow at a decent CAGR of 4.49 percent during the forecasted period of 2018 to 2025. Germany is the primary laser revenue contributor. In terms of industrial lasers, Germany has the second highest concentration, following China.
Region wise APAC is the leading region whereas RoW has the highest CAGR during the forecast period
Asia-Pacific (APAC) is the current market leader with 33 percent of global laser market share in 2018 and is expected to grow with the CAGR of 4.33 percent for the forecasted period of 2018 to 2025. APAC is the leading region in terms of innovation constituting more than 50% of the patent share, due to Japan, Korea, and China.
The market for LiDAR is expected to grow double in size in the next five years.
The growth for LiDAR is derived from the increasing spaces of self-driving vehicles as well as enhanced driving assistance. LiDAR has been used for 3D scanning of objects and spaces, aerial mapping, rangefinders and aerosol velocity monitoring.
New promising technologies emerging from the core laser applications.
Technologies emerging from laser applications include LiDAR, VCSEL, and AR/VR are in demand and boosting the demand for laser technology in varied domains of manufacturing, automotive, medical, aerospace, military and defense, telecommunications, electronics.
Top Active Companies
The top laser system producers in the market include Coherent, Trumpf, IPG Photonics, Han's Laser, Lumentum Holdings, Jenoptik, Novanta, Lumibird, and Bystronic and have developed mass scale production processes. The companies have entered into various joint development agreements with multinational OEMs to drive the laser market. Companies like Trumpf and IPG Photonics have witnessed revenue growth coming from material processing and 3D application sectors. Following are the key companies analyzed in the report:
-> Coherent Inc.
-> TRUMPF GmbH + Co. KG
-> IPG Photonics Corporation
-> Lumentum Holdings Inc.
-> Jenoptik AG
-> Han's Laser Technology Industry Group Co., Ltd
-> Novanta Inc.
-> Lumibird Group
-> DPSS Laser, Inc.
-> Bystronic Inc.
-> Amplitude Systemes S.A.
-> EKSPLA
Constant new innovations have been occurring in the laser technology market
Approximately 29,990 patent families have been mapped for the period 2014 to 2019 which shows that the research community interest in laser technology has been consistent over the years, which also means constant new innovations have been occurring in this domain. The number of patent applications concerning laser are expected to be consistent over the next few years based on the observed filing trends.
Mitsubishi Group has the biggest portfolio for laser technology with more than 600 patents registered in this domain
Out of the top 20 patent owners in the laser patent space, companies occupy 100 percent of the share while no universities or research institutes are present among the top 20 owners. The primary growth strategy of top companies focuses on product innovation and targeted acquisition.
75 percent of innovations are occurring within the industrial end user domain.
The number of patent families filed in solid-state laser type far outweighs the number of patents filed in any other type, plus they have most deviation between Diode and Non-Diode types. Further Gas lasers dominate the non-diode type of lasers, as usually they are constructed without a need of Semi-conductor components.
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SOURCE Ahead Intelligence
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