Laser Technology Global Market Report 2024

Laser technology involves the emission of light through optical amplification based on stimulated emission of electromagnetic radiation. This technology produces a narrow beam of concentrated light, generated by a specialized machine. Laser technology finds applications in cutting hard materials and is utilized in various technical fields such as surgery and telecommunications. It is known for providing high-precision results in measuring both small and large distances.

The main types of laser technology include solid laser, liquid laser, and gas laser. Liquid lasers are optically pumped lasers where the gain medium is a liquid at room temperature. Applications of laser technology encompass laser processing, optical communications, and various other uses. End-users of laser technology span across telecommunications, industrial, semiconductor and electronics, commercial, aerospace and defense, automotive, medical, research, and other sectors.

The laser technology market research report is one of a series of new reports that provides laser technology market statistics, including laser technology industry global market size, regional shares, competitors with a laser technology market share, detailed laser technology market 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 delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The laser technology market size has grown strongly in recent years. It will grow from $13.89 billion in 2023 to $15.22 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth observed in the historical period can be attributed to the widespread adoption of laser technology in medical and surgical procedures, its utilization in communication and data transmission, its application in entertainment and display technologies, increased use in semiconductor manufacturing processes, and its adoption in defense and military applications. The versatility and precision of laser technology have made it a valuable tool across diverse industries and sectors.

The laser technology market size is expected to see strong growth in the next few years. It will grow to $21.51 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The projected growth in the forecast period can be attributed to the adoption of green and fiber lasers, utilization in space exploration, applications in laser art and design, the integration of biometric authentication technologies, and use in renewable energy initiatives. Key trends expected in the forecast period include advancements in quantum technologies, the intersection of 5G and optical networks, innovations in laser beam steering, the incorporation of quantum dots and nanomaterials, and advancements in laser-based microscopy techniques. The ongoing evolution of laser technology is likely to drive its applications across various cutting-edge fields.

The laser technology market is poised for growth, driven by the increased usage of consumer electronic gadgets. Consumer electronics, including smartphones, televisions, and computers, benefit from laser technology, offering innovative solutions in their manufacturing processes. For instance, India, with the world's highest mobile data consumption rate at 12 Gigabytes (GB) per user per month, is witnessing the addition of 25 million new smartphone users every quarter. This surge in consumer electronic gadget usage is anticipated to drive the demand for laser technology in the market.

The growing industrial sector is expected to be a key driver of the laser technology market. The industrial sector, encompassing businesses involved in the production, manufacturing, processing, and distribution of goods and services, relies on laser technology for cutting, welding, marking, and various applications. This application ensures high precision, speed, and automation in manufacturing processes, ultimately enhancing efficiency and product quality. Industrial production in the United States witnessed a year-on-year increase of 3.3% in October 2022, highlighting the pivotal role of laser technology in driving industrial growth.

A notable trend in the laser technology market is the emergence of strategic collaborations. Companies within the laser technology sector are forming partnerships to bolster their new product development initiatives through the mutual sharing of technologies, aiming to fortify their market positions. For example, Trumpf, a German-based laser technology company, collaborated with Marvel Fusion, a German startup specializing in Chirped Pulse Amplification (CPA) lasers for revolutionary fusion techniques. This partnership seeks to expedite the development of their groundbreaking fusion technology. Similarly, Tematys, a Scottish laser technology company, joined forces with Chromacity, a UK-based manufacturer of compact femtosecond laser solutions. This collaboration aims to boost the sales of 'ultrafast' technology to industrial companies in France.

Major players in the laser technology market are directing their efforts toward innovative technologies and products, such as fiber lasers, to enable deep melting, high-speed processing, and reduction in welding defects. Fiber lasers utilize optical fibers as the gain medium, producing a focused laser beam with exceptional beam quality and efficiency. For instance, Furukawa Electric Co. Ltd., a Japan-based electronics company, introduced an industrial laser technology with high beam quality, time stability, reliability, and effectiveness. This fiber laser is anticipated to contribute significantly to the infrastructure, car parts, and electronics industries.

In January 2021, TRUMPF, a German-based industrial machine manufacturing company, acquired an 80% stake in Active Fiber Systems GmbH (AFS). This strategic move allows TRUMPF to maintain AFS's independent standing, leveraging its research-driven expertise in ultrashort-pulse laser systems and fiber laser systems for applications in science and research.

Major companies operating in the laser technology market include IPG Photonics Corporation, Trumpf lasers Laser PLC, Lumentum Operations LLC, Jenoptik AG, Novanta Photonics Inc., Coherent Inc., IPG Photonics Corporation, LUMIBIRD Group, LaserStar Technologies Corporation, Epilog Laser India Pvt. Ltd., Han's Laser Technology Industry Group Co. Ltd., MKS Instruments Inc., Gravotech Pvt. Ltd., Corning Incorporated, Eurolaser GmbH, BYSTRONIC Laser AG, Newport Corporation, Rofin-Sinar Technologies Inc., Amplitude Laser Group, Laser Quantum Ltd., NKT Photonics A/S, Quantel Group, SPI Lasers UK Ltd., Laserline GmbH, Raycus Fiber Laser Technologies Co. Ltd., Laserax Inc., Laser Components GmbH, Meller Optics Inc., JenLas Diodenlaser GmbH, Epilog Laser

Asia-Pacific was the largest region in the laser technology market in 2023. North America is expected to be the fastest-growing region in the laser technology market share during the forecast period. The regions covered in the laser technology market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the laser technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The laser technology market consists of sales of gas laser, solid-state laser, fiber lasers, dye lasers, and semiconductor laser. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.