English

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

1077
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
  • High performance optoelectronic device developer "Micro Source Photon" completes B+round financing

    Recently, Weiyuan Photon (Shenzhen) Technology Co., Ltd. (hereinafter referred to as "Weiyuan Photon") announced the completion of a B+round of financing, with investors including Yicun Capital, Chenfeng Capital, and Beijing Guoqian Investment. The specific amount has not been disclosed. According to its official website, MicroSource Photonics was founded in November 2018, with the main members...

    2024-07-23
    See translation
  • Sivers Semiconductors, an optoelectronic semiconductor company, splits off its photonics business and goes public independently

    Recently, Sivers Semiconductors, a leading supplier of integrated chips and photonics modules for communication and sensing solutions, announced a significant strategic initiative:It will divest its subsidiary Sivers Photonics Ltd, which has signed a non binding letter of intent (LOI) with byNordic Acquisition Corporation and plans to achieve independent listing through a merger. This move aims ...

    2024-08-26
    See translation
  • The world's most powerful laser attempts to unravel the secrets of the universe

    They are the strongest lasers in history, and their beams are helping scientists explore the structure of the universe.In a research laboratory at the University of Michigan, bright green light fills the vacuum chamber of a technology giant. It is the size of two tennis courts. The walls are shielded with 60 centimeters of concrete to prevent radiation leakage, and workers wear masks and hairnets ...

    2023-11-28
    See translation
  • Researchers use a new frequency comb to capture photon high-speed processes

    From detecting COVID in respiration to monitoring greenhouse gas concentrations, laser technology called frequency combs can recognize specific molecules as simple as carbon dioxide to as complex as monoclonal antibodies, with unparalleled accuracy and sensitivity. Although frequency combs have incredible capabilities, their ability to capture high-speed processes such as hypersonic propulsion or ...

    2023-11-02
    See translation
  • German research institute develops a new nanosecond laser process

    Recently, the Fraunhofer Institute (HHI) has developed a technology for processing aluminum alloy materials using reactive gas assisted nanosecond lasers, which can be used to produce electronic box samples for spacecraft manufacturing. This development project is part of the NanoBLAST project, in close collaboration with thermal engineering company Azimut Space GmbH, aimed at manufacturing surfac...

    2024-09-10
    See translation