The global laser markets developed very differently in 2019: While the average prices for lasers in material processing dropped substantially, the revenue for semiconductor lasers such as vertical-cavity surface-emitting lasers (VCSELs) was very healthy. Overall, it was a good year with more than 4% growth of the total laser market. 2020 will depend very much on further developments in China, where the impact of the COVID-19 disease on the overall economic situation is just one of several uncertainties.