The global solid state lasers market value will reach USD 1.7 billion in 2023. In the forecast period, global sales of solid-state lasers will likely rise at 3.2% CAGR, taking the total market valuation to USD 2.3 billion by 2033.
Demand for solid state lasers is predicted to remain high in communication applications. This is attributable to the rising usage of solid state lasers in optical communication systems due to their high efficiency and long reach. The target segment is set to progress at 3.0% CAGR through 2033.
The worldwide solid state lasers industry will thrive steadily during the forecast period. This is due to the rising usage of solid state lasers in communication, medical, materials processing, and military applications.
Solid state lasers use solids as a laser medium to generate laser light. They find application in diverse fields, including manufacturing, research, and telecommunication, owing to their advantages, such as high efficiency, good beam quality, and high power.
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Increasing popularity of solid state lasers in the healthcare and medical device industries is expected to boost the market. Solid state lasers are widely used in laser surgery, dermatology, dentistry, and other medical applications.
Growing usage of laser technology manufacturing, automotive, and other industries is likely to fuel solid state sales through 2033. Solid state lasers are widely used in material processing applications like cutting, drilling, welding, and marking across these industries.
Rising demand for high-precision laser systems is another key factor expected to spur growth in the solid state lasers industry. This is because solid state lasers offer high precision and accuracy.
Leading solid state laser manufacturers are innovating to develop more efficient, powerful, and cost-effective lasers. This will bode well for the target market. The target market is forecast to expand 1.4X through 2033 with these dynamics.
Key Takeaways from the Solid-state Lasers Market Report:
- The global solid state lasers industry is forecast to total USD 2.3 billion by 2033.
- By application, the communication segment is expected to thrive at 0% CAGR through 2033.
- The United States market value is anticipated to reach USD 437.8 million by 2033.
- Sales revenue in Japan is projected to reach USD 261.5 million by 2033.
- China market is expected to total USD 297.1 million by 2033.
- The United Kingdom industry is predicted to expand at 8% CAGR.
- Demand in the South Korean market is poised to grow at 7% CAGR through 2033.
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Who is Winning?
Following are few of the leading solid state laser manufacturers profiled in the report.
- JK Lasers
- EKSPLA
- Coherent Inc.
- Photonics Industries International Inc
- JENOPTIK Laser GmbH
- JDS Uniphase Corp
- Laserglow Technologies
- Lee Laser Inc
- Photonic Solutions
- Quanta System SP
Top players are continuously upgrading their portfolios by introducing new laser solutions for different applications. They are leveraging strategies such as acquisitions, partnerships, agreements, mergers, and collaborations to expand their global footprint.
Recent Solid State Lasers Market Developments:
- In June 2023, the new next-generation pump laser diode with 65 W power was introduced by Coherent Corp., a leading player in high power semiconductor lasers.
- In July 2020, TRIOPTICS, a leading photonics company, was acquired by Jenoptik AG to accelerate its profitable growth.
More Insights Available:
Future Market Insights (FMI), in its new offering, presents an unbiased analysis of the global solid state lasers market presenting historical data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study reveals market projections based on application (communication, medical, materials processing, automotive, and other applications) and region (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia and Pacific, and Middle East and Africa).
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Solid State Lasers Market Segmentation
By Application:
- Communication
- Medical
- Materials Processing
- Automotive
- Other Applications
By Region:
- North America
- Latin America
- Western Global Europe
- Eastern Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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