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Laser Technology Market to Reach $15.3 Billion by 2022: Shift Towards Production of Nano & Micro Devices is Driving Growth - Research and MarketsDUBLIN, May 23, 2017 /PRNewswire/ -- Research and Markets has announced the addition of the "Laser Technology Market - Global Forecast to 2022" report to their offering.  The laser technology market is expected to be valued at USD 15.38 Billion by 2022, at a CAGR of 5.2% between 2017 and 2022. Increasing demand from the healthcare sector and shift towards production of nano and micro devices are acting as driver for the growth of the laser technology market. Moreover, the benefits provided by laser technology such as higher accuracy, lower labor cost, and minimized loss over traditional material processing is also driving the growth of this market. This report segments the laser technology market on the basis of type, application, vertical, and geography. The laser technology market for solid laser accounted for the largest share of the laser technology market based on type in 2016. Solid laser provides enhanced thermal conductivity and optical quality. Solid laser helps to prevent the wastage of materials in the active medium and produce both continuous and pulsed output at a higher efficiency than the HeNe and argon laser by about 2% to 3%, respectively. Optical communication is expected to witness a significant growth during the forecast period. Laser technology devices is an important component in broadband communiation systems. These devices are used for high-speed transmission of data in digital and analog fiber optic networks. Optical communication are used in various applications such as broadband distribution, data networking, and Ethernet system. Laser has a shorter wavelength and is less divergent compared with radio signals, thereby helping in achieving higher data rates and minimizing power consumption for data transmission. These factors are expected to drive the growth of the laser technology market for optical communication. The telecommunication vertical accounted for the largest share of the laser technology market in 2016. Laser technology devices produce the beam of light which is concentrated, intense, coherent, monochromatic, and aligned. Hence, it is suitable for the transmission of data over a long distance. Laser technology provides faster and secured data transmission and minimized power consumption, thereby resulting in the growth of telecommunication vertical. Companies Mentioned
Key Topics Covered: For more information about this report visit http://www.researchandmarkets.com/research/rbx656/laser_technology Media Contact: Laura Wood, Senior Manager
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