MarketsandMarkets has released a new research report on the global laser technology market.
The report forecasts the total laser market to grow at 19.2% CAGR from 2012 to reach $19.88 billion by the year 2017. The report is titled ¡°Laser technology market by types (Fiber laser, CO2 laser, solid©\state laser, excimer laser, dye laser, diode laser) & applications - Global forecast and analysis (2012 ¨C 2017).¡±
Over the last decade, significant progress has been made in the field of lasers. New applications sectors as well as advances in technology are driving the growth of lasers. Lasers are now being used for automation and for future technologies in industrial applications. Technologies such as the green laser can play an important role due to their output power and cost. The laser technology market is moving over to Quantum cascade lasers, femtosecond lasers and disc lasers from CO2 and fiber lasers.
The widespread application of laser in healthcare, the developments in the industrial market and automotive industry, and the increase in spending for military purposes are expected to fuel the growth of the laser technology market.
In healthcare, laser technology is being widely used for skin care, marking, engraving, welding and cutting applications.
In vehicles, the new dynamic light spot technology is being used for identifying and illuminating perambulators with a beam that looks similar to sunlight. The novel technology has been introduced in the BMW i8 car.
The APAC region, led by developing countries, seems to be a significant productive market for manufacturers of laser and laser enabled products.