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Laser Technology Market by Type, Application & Geography - Global Forecast to 2022
- Sep 09, 2017 -

Laser Technology Market by Type (Solid, Liquid, & Gas), Application (Optical communication & laser processing), Vertical (Commercial, Telecom, Research, Defense, Medical, Automotive, Electronics, & Industrial), & Geography - Global Forecast to 2022", this market is expected to be valued at USD 15.38 Billion by 2022, at a CAGR of 5.2% between 2017 and 2022. 

The major factors driving the growth of the laser technology market include increasing demand from the healthcare sector and shift towards production of nano and micro devices, and enhanced performance over the traditional material processing techniques.

Solid laser accounted for the largest share of the laser technology market based on type segment in 2016. This growth can be attributed to the ability of solid laser to prevent material wastage when in the active medium and produce both continuous and pulsed output at a higher efficiency. Moreover, solid laser can be used in applications such as drilling holes in metals and endoscopy.

Laser technology is used in high-speed transmission of data in digital and analog fiber optic networks, which makes it suitable for the optical communication. This factor is expected to drive the growth of this market during 2017–2022.