The Global Market for Laser Systems is Forecast to Reach US$15.9 Billion by 2020
Expanding Applications Drive the Global Laser Systems
Market, According to a New Report by Global
Industry Analysts, Inc.
GIA announces
the release of a comprehensive global report on Laser Systems. The
global market for Laser Systems is forecast to reach US$15.9 billion by 2020,
driven by expanding end-use applications.
As one of the
most important inventions of the 20th century, laser technology has changed
modern lives and still continues to remain at the forefront of numerous new
technology breakthroughs in the 21st century. Defined as optical light
amplification through stimulated emission of electromagnetic radiation, lasers
are today widely used in several scientific, military, medical, industrial and
commercial applications. The ubiquity of lasers can be put into perspective by
the fact that the technology today impacts every aspect of life from medicine,
manufacturing, communications, measurement, research & analysis to
entertainment. The manufacturing industry represents the largest end-use of the
technology with laser finding widespread use in high precision cutting and
welding applications. The last two decades witnessed robust growth in demand
for laser systems supported by the technology’s proficiency in machining jobs
such as cutting, and welding. Years of progressive technological developments
have made lasers more versatile, robust and compact thus expanding their
applications beyond manufacturing. Few of the emerging application areas
include measurement and analysis, defense and national security, medicine and
health, energy, smart materials, communications, and environment and climate.
In measurement
and analysis applications, lasers are used to measure and mark construction
sites & highways, analyze physical structures, detect biochemical hazards. In
the healthcare industry, lasers find critical applications in complex surgeries
in fields encompassing dentistry, neurology, cardiology, dermatology, and
ophthalmology, among others. In the energy generation industry, lasers are used
to ignite nuclear fusion and are currently being researched for use in the
development of solar cells. Lasers are also used to monitor the level of
greenhouse gases in the environment. In the telecommunication sector, lasers
power fiber optics networks which are rapidly replacing copper-wire networks. Specific
to the use of laser systems in material processing, demand is poised to benefit
from the development of laser diode solutions. Defined as semiconductor lasers,
diode lasers are based on diode structure and offer efficiency levels over 30% higher
than lasers with conventional configurations. In the industrial sector, rising
demand for advanced automation and control systems, improvements in
instrumentation and standardization of equipment, will continue to fuel demand
for high power laser diode systems. Growth will also stem from the consumer
electronics sector, spearheaded by the high demand for smartphones and tablet
PCs.
Over the years,
lasers have evolved into potent tools for effective material processing. The
numerous advantages of lasers including their compatibility for use with a wide
range of materials are encouraging a shift in preference away from conventional
processing technology towards laser technology. From cutting and shaping
complex and delicate cardiovascular stents, wielding thick steel in
shipbuilding applications, to precision drilling of guide vanes in the
manufacture of aerospace components, lasers offer unrivalled performance and
cost benefits. The development of fiber lasers has additionally extended the
reliability of lasers in manufacturing applications. Fiber lasers are making an
impact on high-speed drilling in silicon, in addition, to marking and engraving
applications in metals, plastics, and ceramics. Reconfigurable laser micro
processing platforms are growing in popularity in semiconductor manufacturing
and for structuring and polishing of large 3D material surfaces.
As stated by the new market research report on Laser Systems,
Asia-Pacific represents the largest market worldwide. The region also ranks as
the fastest growing market with a CAGR of 9.9 % over the analysis period. Strengthening GDP, rapid industrialization, expanding manufacturing base, along with
rapidly growing electronics, semiconductor and automotive end-use industries,
represent key growth drivers in the region.
Key players covered in the report include Amada Miyachi Co., Ltd.,
Bystronic Inc., Coherent Inc., DPSS Lasers Inc., Epilog Laser Inc., Eurolaser
GMBH, GSI Group Inc., Han’s Laser Technology Co., Ltd., Huangongtech Co., Ltd.,
IPG Photonics Corporation, Jenoptik AG, LaserStar Technologies, Mazak Optonics
Corporation, Mehta Cad Cam Systems Pvt. Ltd., Mitsuboshi Diamond Industrial
Co., Ltd., Newport Corporation, PRIMA INDUSTRIE S.p.A., Redsail Technology Co.
Ltd., ROFIN-SINAR Technologies Inc., Sahajanand Laser Technology Ltd., SEI
Laser S.P.A, Shenzhen Sunshine Laser & Electronics Technology Co., Ltd.,
Trotec Laser Inc., and TRUMPF Group among others.
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