Market Size of Lasers Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 13.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Laser Market Analysis
The lasers market is expected to register a CAGR of over 13% during the forecast period.
In 2020, the lasers market was moderately affected due to the COVID-19 pandemic and the temporary shutdown of various industries. However, the increased manufacturing of electrical and electronics, medical devices, and automotive, where lasers are used in significant quantities, propelled the demand for lasers in 2021.
- Over the short term, the increasing demand for laser systems from the electronics industry is expected to drive market growth.
- Conversely, the high capital investment may hinder the laser market in the coming years.
- LiDAR technology is expected to offer new avenues to industry growth during the forecast period.
- Asia-Pacific dominated the market with a significant share and is estimated to continue its dominance during the forecast period. This growth is attributed to an upsurge in demand for lasers in the communications industry.
