Laser technology has been around in manufacturing and other industries for a long time. Additionally, the recent introduction of fiber laser, a pioneering technology by laser manufacturers has gradually transformed the traditional usage of lasers in varied applications. From marking and welding tools to laser metal cutting machine as well as fiber laser engravers, these technologies are widely adopted for material processing purposes relating to components in the automotive, healthcare, heavy industry, and consumer electronic sectors.
With these ground-breaking developments, the vendors have been efficacious in gaining long-ranging applications of fiber lasers in the medical sector that range from surgeries in dental implementation and ophthalmology to aesthetic properties like skin rejuvenation, body contouring, and hair removal.
Economics plays spoilsport in the fiber laser market
Despite the long-ranging adoption and escalating growth, fiber laser industry faces numerous challenges ranging from increasing scarcity of rare-earth elements such as dopants like ytterbium and the uncertain lifespan of these technologies. Plus, the ambiguity in the global economy negatively affects business operations, with exchange rates serving as a major limiting factor in the case of multinational companies. As a result, these MNCs cannot anticipate future market conditions and incur significant monetary losses through international trade.
Cost, scalability and performance are helping the cause
With advanced features like high beam technology, low cost of ownership, extreme power efficiency and superior performance, the demand for high power fiber laser is growing at an unprecedented pace.
In recent times, fiber laser manufacturers have been investing heavily in R&D to improve range and add additional wavelengths and power levels while improving beam quality with the introduction of new product lines and laser-based systems. The recent developments include pulsed fiber laser systems with ultrashort pulse durations with ranges of picosecond and femtosecond.
In an evolving industry like fiber optic lasers, innovations and developments are constant. One of the trending advancements that researchers have augmented is lasers with ribbon core fibers. Herein, a line of doped silica rods is surrounded by un-doped rods, which increases the beam quality that helps in the focusing of light. Fiber lasers can produce high power without any thermal damage. Hence, the technology is ideal for defense activities as these require single-mode emission.
Precision planning with relevant market insights
Even with numerous benefits and high adoption rates, rapid technological advancements and frequent fluctuations in the global fiber laser market pose as challenges for vendors operating in this industry. Thus, insights into the market can help these vendors strategize better.
Technavio offers comprehensive market research solutions that are aimed at helping key business decision makers gain valuable insights into the prevalent and upcoming market conditions. A FREE sample report pertaining to the global fiber laser market can be sourced from the links listed below.
