Laser is an abbreviation for light amplification by stimulated emission of radiation. A laser is a device that releases a beam of coherent light through an optical amplification process. There are many types of lasers including solid state lasers, gas lasers, fiber lasers, dye lasers and diode lasers. A laser beam is created when the electrons in atoms in special crystals, glasses or gases absorb energy from an electrical current and become active. Laser light is different from normal light as laser light contains only one specific color. The particular color or wavelength of light is determined by the amount of energy released when the stimulated electron drops to a lower orbit. Laser light is directional and it generates a very tight beam. Gradually laser technology gained wider possibilities of being utilized in almost all areas of industrial production. Using the unique assets of laser radiation can further streamline a number of applications to achieve top quality and reduce production costs.
The main factors contributing to the growth of laser technology market are, production of small or micro devices, stability of laser prices and increasing demand from the healthcare sector. Improved performance of laser over the traditional material processing techniques is also factor driving the growth of laser technology market. High accuracy along with greater productivity and minimal environmental effects are some of the key advantages of laser solutions. Laser technology is suitable for the optical communication, since it uses high-speed transmission of data in digital and analog fiber optic networks as this works in favor of laser technology market. Growth in laser technology can also be attributed to fast processing laser machine tools from various verticals and the increasing demand for cost-effective, also new and different markets in laser technology. Whereas the key issue for the growth of laser technology market could be higher power consumption, burning and difficulty in cutting certain materials in the material processing market can prove to be detrimental.
The laser technology market is segmented by type, application, vertical and geography. On the basis of type, laser technology market is segregated into solid, liquid and gas. Solid-state lasers are lasers based on solid-state gain media such as glasses or crystals. A liquid laser uses the liquid as a medium for laser. In liquid lasers, energy to the laser medium is supplied by light and in gas laser electric current is discharged through a gas inside the laser medium to produce laser light.
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Furthermore, the laser technology market is divided based on application into optical communication and laser processing. Optical communication is a technique of transmitting information from a place to another by sending pulses of light through an optical fiber, whereas laser processing involves marking, cutting, welding, drilling, ablation and cleaning. By verticals the laser technology market is again subdivided into research, military & defense, telecom & IT, healthcare, electronics and automotive segment. Geographically, laser technology market is distributed over North America, Europe, South America, Asia Pacific and Middle East & Africa. Asia Pacific is expected to dominate the laser technology market due to the increasing demand for cost-effective and fast processing laser machine tools from the semiconductor, industrial, telecommunication, and automotive vertical.
Major players in the laser technology market are IPG Photonics Corp. (US), Coherent, Inc. (US) Trumpf Group (Germany), Jeanoptik AG (Germany), Quantel Group (UK), LasaerStar Technologies Corp. (US), Novanta Inc (US), Lumentum Holdings Inc. (US), Epilog Laser (US), Han’s Laser Technology Industry Group,MKS Instruments (US) and GSI Group Inc and so on. Further, to gain a competitive advantage, these players are actively involved in organic and inorganic growth strategies. Collaborations, partnerships, agreements, and new product launches are some of the important strategies followed by them.
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