This industry research report presents detailed analysis and segmentation of the global solid-state laser market by application (communication, medical, materials processing, data storage, defense, and automotive applications) and by geography (APAC, Europe, North America, and ROW). It also includes an insightful analysis of the leading vendors in this market, such as Coherent, Rofin-Sinar, and Trumpf.
Technavio has released its new market research report, global solid-state laser market, which is expected to decline at a CAGR of (1.3) % between 2016 and 2020. The demand for solid-state lasers is decreasing due to the increased penetration of fiber lasers across several applications. However, global market for solid-state lasers will witness growth during the forecast period, owing to the augmented demand for lasers in low-power applications. APAC occupies 43% of the overall market share, owing to the presence of several large manufacturing plants in this region.
“The performance of solid-state lasers is continuously improving with technological innovations, making them stronger, more powerful, and more energy-efficient than before. For instance, Raytheon’s high-energy laser systems use a proprietary solid-state planar waveguide structure to generate high output power in a compact design. This makes these systems suitable for use in military applications. In addition, advances in technology have provided substantial energy-saving opportunities to end-users compared to alternative technologies such as excimer lasers,” says Sunil Singh, Lead Analyst, Hardware & Semiconductor, Technavio Research
The augmented usage of solid-state lasers in the healthcare industry is the key driver for the growth of this market. The augmented usage of such lasers in the field of dentistry by large and small-scale dentists across the globe is envisaged to result in market growth during the forecast period. Additionally, the ability of such lasers to facilitate general surgical procedures and skin rejuvenation therapies is predicted to incite market growth during the forecast period.
The leading vendors in the global solid-state laser market include Coherent, Rofin-Sinar, and Trumpf. The competitive environment in this market is expected to intensify owing to factors like the increase in R&D innovations, growing competition from alternate laser technologies, and the increasing M&A activities in the next four years. The market is also likely to witness a growing trend of acquisitions by the leading players, which will result in intense competition between the leading vendors.
A more detailed analysis is available in the Technavio report, Global Solid-State Laser Market 2016-2020.
We can customize this report by other regions and specific segments upon request.
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