English

The global laser technology market is expected to reach 29.5 billion US dollars by 2029

793
2024-07-25 14:42:53
See translation

Recently, Markets And Markets released a five-year assessment report on the global laser industry. According to the report, the global laser technology market is expected to reach $20 billion by 2024 and is projected to reach $29.5 billion by 2029, with a compound annual growth rate of 8.0% during the forecast period.

Global Laser Technology Market Forecast
The reasons for market growth include: the increasing demand for laser technology in the healthcare industry; Compared with traditional material processing methods, laser technology has better performance; Compared with traditional methods, more and more people tend to use lasers for material processing; Transitioning towards the production of nanodevices and microdevices; More and more people are adopting intelligent manufacturing technology.

Laser processing encompasses a wide range of applications of laser technology, utilizing the unique characteristics of lasers to accomplish various industrial tasks. Laser technology provides unparalleled precision, speed, and versatility in tasks such as cutting, welding, marking, engraving, and drilling various materials including metals, plastics, ceramics, and composite materials. Industries such as manufacturing, automotive, aerospace, electronics, healthcare, and consumer goods all heavily rely on laser processing technology because it can achieve high-quality processing results while minimizing material waste, reducing operating costs, and improving productivity.

From a regional perspective, the Asia Pacific region includes China, Japan, India, and South Korea. The region has the world's largest manufacturing centers, including China, Japan, and South Korea. These countries hold important positions in industries such as automobiles, electronics, semiconductors, and consumer goods, and are important users of laser technology in cutting, welding, marking, and engraving applications. The Asia Pacific region is experiencing rapid industrialization and urbanization, which is driving the demand for advanced manufacturing processes and technologies.

Source: Yangtze River Delta Laser Alliance

Related Recommendations
  • Panasonic Launches 3D Short Pulse Fiber Precision Laser Marking Machine LP-ZV

    Recently, Panasonic has launched the latest laser marking technology product - the LP-ZV series, which can provide high-precision and high-efficiency laser marking.Panasonic claims that the LP-ZV series has set a new standard that can bring excellent speed and accuracy in operation, suitable for various applications such as marking text, graphics, barcodes, and 2D code.The company stated that the ...

    2023-11-08
    See translation
  • Researchers Obtaining Scientific Returns from Raman Spectroscopy for External Bioexploration Using Lasers

    We investigated the potential of laser selection in a wide optical range from ultraviolet to visible light, and then to infrared (excitation wavelengths of 325, 532, 785, and 1064 nm), in order to combine and analyze extreme microorganisms related to Earth (such as Cryptomeria elegans, cold floating nematodes, and circular green algae), carbon water compound molecules, as well as simulated mineral...

    2023-10-23
    See translation
  • Panacol showcases a new optical grade adhesive on Photonics West

    Panacol will showcase new optical grade resins and adhesives for embossing and optical bonding applications at the SPIE Photonics West exhibition held in San Francisco, California, USA from January 30 to February 1, 2024.These new adhesives can be used for sensors in lightweight carpets, smart devices, and wearable devices in the automotive industry, or for generating structured light in projector...

    2023-12-12
    See translation
  • The constantly developing world of all-weather laser satellite communication

    Using light beams for communication is not a new idea, even outside of Star Trek, Star Wars, and other similar fantasy stories. Scientist and science fiction writer Arthur Clark predicted that beam communication, at that time modern satellite communication was just a dream.In 1975, the magazine published an article about laser communication or laser communication equipment. The demonstrati...

    2023-12-01
    See translation
  • Laser technology reveals hidden gases in complex mixtures

    Laser Network reported on January 11th that modern equipment has been fine tuned to detect highly specific gases, including trace gases found in the atmosphere, gases present in combustion exhaust emissions, and gases used in technology plasma applications.They achieve this by calculating the percentage of light at a certain wavelength that is absorbed or attenuated by the sample. This way, the co...

    2024-01-11
    See translation