Laser Technology Market by Product Type, by Application and Geography: Analysis, Size, Growth, Trends, and Forecast, 2024-2028

Market Size

Advancements in 3D laser technologies, photonics technology, and fiber-optic networks are contributing to the growth of the laser technology market. This technology is used across industries such as communications, military, automotive, medical, aerospace, packaging, and automation. This market is segmented by product type, by application, and by region, including North America, Europe, APAC, South America, and the Middle East and Africa. This report also analyzes key competitors in the laser technology market, such as Bystronic Laser, IPG Photonics, and Novanta.

Technavio’s in-depth industry report offers historical data as well as a comprehensive market forecast. It analyzes the current state of the laser technology market and provides detailed predictions on its performance over the coming years. It examines key factors such as market drivers, challenges, and key emerging trends, as well as the global competitive landscape. Also included is a breakdown of the types of products available on the market, along with their market shares and future prospects.

Market Report Insights

• Precise evaluation of the market’s size, including historical data and a forecast of market performance from 2024 to 2028
• Qualitative and quantitative analysis of the current market scenario and future prospects, allowing clients to make informed business decisions
• In-depth analysis of the drivers and challenges that will impact the growth of the market between 2024 and 2028
• Predictions about upcoming trends and changes in consumer behavior
• A thorough industry analysis of the competitive landscape and detailed information on key companies in the market, including factors such as market positioning and product offerings
• Region-by-region analysis of market growth and opportunities across North America, Europe, APAC, South America, and the Middle East and Africa

Market Report Highlights

Market Segmentation

The laser technology market is segmented according to product type, application, and region. Technavio’s industry report provides actionable market insights on each segment, including market share and growth forecasts.

Product Type Segmentation

• Gas lasers
• Solid-state lasers
• Liquid lasers
• Semiconductor lasers
• Other lasers

Application Segmentation

• Communications
• Laser processing
• Optoelectronic devices
• Others

Regional Analysis

Different parts of the world will have different demands, supply chain logistics, legal nuances, and other factors to take into consideration when entering a new market. Technavio’s laser technology market research helps facilitate strategic business decisions by providing a historical and focused look at regional markets, including market trends, drivers, and challenges as well as predictions for regional market sizes and growth. North America is a leading region of the global market due to factors such as its well-developed healthcare infrastructure, rising demand for cosmetic surgeries, and the presence of many large manufacturers.

Geographical Segmentation:

• North America
  • Segmentation by product
  • Segmentation by application
• Europe
  • Segmentation by product
  • Segmentation by application
• APAC
  • Segmentation by product
  • Segmentation by application
• South America
  • Segmentation by product
  • Segmentation by application
• The Middle East and Africa
  • Segmentation by product
  • Segmentation by application

Competitive Landscape

This report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies in order to help clients improve their market positions. It also provides a detailed analysis of the upcoming laser technology market trends and challenges and how they will influence market growth, designed to help companies create effective strategies to make the most of the global market.

Companies leading the global laser technology market include:

• Bystronic Laser AG
• Coherent, Inc.
• IPG Photonics Corporation
• Jenoptik AG
• Lumentum Holdings Inc. 
• LUMIBIRD
• Novanta Inc.
• TRUMPF GmbH + Co. KG

Market Dynamics

In order to make informed business decisions and strategies, it’s important to be informed of the many factors impacting the market. What is driving growth in the market and how does that influence new product releases? What challenges are increasing risk for a specific course of action or in a specific market? What will the key trends be over the next several years and what is the best way to take advantage of them? The answers to these questions help companies to evaluate business approaches and develop growth strategies.

Photonics technology enables the development of specialized lasers for a wide range of applications including spectroscopy, microscopy, and gas lasers. Semiconductor lasers, such as high-power diffraction-limited semiconductor lasers, are revolutionizing industries such as communications, where they are used in fiber-optic networks to transmit data over long distances.

In the medical field, laser technology is utilized for treating skin conditions such as psoriasis, vitiligo, leukoderma, and atopic dermatitis, as well as in aesthetic operations and for eye problems. Laser technology offers accuracy, safety, efficacy, and accessibility in minimally invasive medical procedures. Vertical-cavity surface-emitting lasers (VCSEL) and solid-state lasers are leading the way in delivering innovative digital solutions for medical applications.

The military sector is a significant driver of laser technology development, with organizations like the Indian Defense Research and Development Organization (DRDO) and its Centre for High Energy Systems and Sciences (CHESS) pioneering research in directed energy weapons (DEWs). These weapons utilize solid-state lasers, CO2 lasers, and diode lasers for applications in defense, agriculture, and construction.

Laser technology is also employed in specialized marking and engraving processes in industries such as automotive, aerospace, and packaging, where precision and speed are crucial. In the manufacturing sector, laser technology plays a vital role in high-end processing applications, offering versatility, optimized performance, and cost savings. Fiber-based industrial lasers are particularly popular for their energy conversion efficiency and operational lifespan.

FAQ

What are the technological advancements driving the Laser Technology Market?

Technological advancements include improvements in laser power and efficiency, miniaturization of laser systems, development of new laser wavelengths, advancements in laser optics and beam delivery systems, integration of lasers with automation and robotics, and the emergence of ultrafast lasers for precision machining and scientific research.

What are the benefits of laser technology in industrial applications?

Laser technology offers benefits such as high precision and accuracy, non-contact processing which reduces material damage, versatility to work with a wide range of materials (metals, plastics, ceramics), automation capabilities for high-volume production, and environmentally friendly operations compared to traditional methods.

How does the Laser Technology Market contribute to medical advancements?

In medicine, lasers are used for precise surgical procedures (like LASIK eye surgery and dermatology treatments), non-invasive medical diagnostics (such as optical coherence tomography), therapy (cancer treatment and tissue ablation), and dental applications (like teeth whitening and gum treatments). Laser technology enables minimally invasive procedures with faster recovery times and reduced risks.

What are the emerging trends in the Laser Technology Market?

Emerging trends include the adoption of lasers in 3D printing and additive manufacturing, advancements in laser processing for electrification of vehicles (battery manufacturing), development of compact and portable laser systems for field applications, and the integration of lasers with AI for autonomous and smart manufacturing processes.

Table of Contents

1 Executive Summary

• 1.1 Market overview
  • Exhibit 01: Executive Summary – Chart on Market Overview
  • Exhibit 02: Executive Summary – Data Table on Market Overview
  • Exhibit 03: Executive Summary – Chart on Country Market Characteristics
  • Exhibit 04: Executive Summary – Chart on Market by Geography
  • Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
  • Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
  • Exhibit 07: Executive Summary – Chart on Incremental Growth
  • Exhibit 08: Executive Summary – Data Table on Incremental Growth
  • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
  • Exhibit 10: Parent market
  • Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
  • Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis
  • Exhibit 13: Market segments

• 3.3 Market size 2023

• 3.4 Market outlook: Forecast for 2023-2028
  • Exhibit 14: Chart on North America - Market size and forecast 2023-2028 ($ billion)
  • Exhibit 15: Data Table on Regional - Market size and forecast 2023-2028 ($ billion)
  • Exhibit 16: Chart on North America: Year-over-year growth 2023-2028 (%)
  • Exhibit 17: Data Table on Regional - Market size and forecast 2023-2028 ($ billion)

4 Historic Market Size

• 4.1 Dietary supplements market in North America 2018 - 2022
  • Exhibit 18: Historic Market Size – Data Table on dietary supplements market in north America 2018 - 2022 ($ billion)

• 4.2 Distribution Channel Segment Analysis 2018 - 2022
  • Exhibit 19: Historic Market Size – Distribution Channel Segment 2018 - 2022 ($ billion)

• 4.3 Product Segment Analysis 2018 - 2022
  • Exhibit 20: Historic Market Size – Product Segment 2018 - 2022 ($ billion)

• 4.4 Geography Segment Analysis 2018 - 2022
  • Exhibit 21: Historic Market Size – Geography Segment 2018 - 2022 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary
  • Exhibit 22: Five forces analysis - Comparison between 2023 and 2028

• 5.2 Bargaining power of buyers
  • Exhibit 23: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028

• 5.3 Bargaining power of suppliers
  • Exhibit 24: Bargaining power of suppliers – Impact of key factors in 2023 and 2028

• 5.4 Threat of new entrants
  • Exhibit 25: Threat of new entrants – Impact of key factors in 2023 and 2028

• 5.5 Threat of substitutes
  • Exhibit 26: Threat of substitutes – Impact of key factors in 2023 and 2028

• 5.6 Threat of rivalry
  • Exhibit 27: Threat of rivalry – Impact of key factors in 2023 and 2028

• 5.7 Market condition
  • Exhibit 28: Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Distribution Channel

• 6.1 Market segments
  • Exhibit 29: Chart on Distribution Channel - Market share 2023-2028 (%)
  • Exhibit 30: Data Table on Distribution Channel - Market share 2023-2028 (%)

• 6.2 Comparison by Distribution Channel
  • Exhibit 31: Chart on Comparison by Distribution Channel
  • Exhibit 32: Data Table on Comparison by Distribution Channel

• 6.3 Offline - Market size and forecast 2023-2028
  • Exhibit 33: Chart on Offline - Market size and forecast 2023-2028 ($ billion)
  • Exhibit 34: Data Table on Offline - Market size and forecast 2023-2028 ($ billion)
  • Exhibit 35: Chart on Offline - Year-over-year growth 2023-2028 (%)
  • Exhibit 36: Data Table on Offline - Year-over-year growth 2023-2028 (%)

• 6.4 Online - Market size and forecast 2023-2028
  • Exhibit 37: Chart on Online - Market size and forecast 2023-2028 ($ billion)
  • Exhibit 38: Data Table on Online - Market size and forecast 2023-2028 ($ billion)
  • Exhibit 39: Chart on Online - Year-over-year growth 2023-2028 (%)
  • Exhibit 40: Data Table on Online - Year-over-year growth 2023-2028 (%)

• 6.5 Market opportunity by Distribution Channel
  • Exhibit 41: Market opportunity by Distribution Channel ($ billion)
  • Exhibit 42: Data Table on Market opportunity by Distribution Channel ($ billion)

7 Market Segmentation by Product

• 7.1 Market segments
  • Exhibit 43: Chart on Product - Market share 2023-2028 (%)
  • Exhibit 44: Data Table on Product - Market share 2023-2028 (%)

• 7.2 Comparison by Product
  • Exhibit 45: Chart on Comparison by Product
  • Exhibit 46: Data Table on Comparison by Product

• 7.7 Others - Market size and forecast 2023-2028
  • Exhibit 63: Chart on Others - Market size and forecast 2023-2028 ($ billion)
  • Exhibit 64: Data Table on Others - Market size and forecast 2023-2028 ($ billion)
  • Exhibit 65: Chart on Others - Year-over-year growth 2023-2028 (%)
  • Exhibit 66: Data Table on Others - Year-over-year growth 2023-2028 (%)

• 7.8 Market opportunity by Product
  • Exhibit 67: Market opportunity by Product ($ billion)
  • Exhibit 68: Data Table on Market opportunity by Product ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview
  • Exhibit 69: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation
  • Exhibit 70: Chart on Market share by geography - 2023-2028 (%)
  • Exhibit 71: Data Table on Market share by geography - 2023-2028 (%)

• 9.2 Geographic comparison
  • Exhibit 72: Chart on Geographic comparison
  • Exhibit 73: Data Table on Geographic comparison

• 9.6 Market opportunity by geography
  • Exhibit 74: Market opportunity by geography ($ billion)
  • Exhibit 75: Data Table on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges
  • Exhibit 76: Impact of drivers and challenges in 2023 and 2028

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
  • Exhibit 77: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
  • Exhibit 78: Overview on factors of disruption

• 11.4 Industry risks
  • Exhibit 79: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
  • Exhibit 80: Vendors covered

• 12.2 Market positioning of vendors
  • Exhibit 81: Matrix on vendor position and classification

• 13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist
  • Exhibit 82: Inclusions checklist
  • Exhibit 83: Exclusions checklist

• 13.3 Currency conversion rates for US$
  • Exhibit 84: Currency conversion rates for US$

• 13.4 Research methodology
  • Exhibit 85: Research methodology
  • Exhibit 86: Validation techniques employed for market sizing
  • Exhibit 87: Information sources

• 13.5 List of abbreviations
  • Exhibit 88: List of abbreviations