Laser market to top $12B by 2019, says Strategies Unlimited

Strategies Unlimited (Mountain View, CA) has released its annual market research report, The Worldwide Market for Lasers, which foresees revenue growth of 5.5% from 2013 to 2019 for the total laser market. This is bolstered by a double-digit compound annual growth rate (CAGR) in display and lightshow laser revenue.

"With many promising technology and application trends," Strategies Unlimited senior analyst Allen Nogee states, "2014 was a fantastic year for laser revenue growth, and besides displays, many segments including sensors, medical, photolithography, and large materials processing had growth rates above average."

The Worldwide Market for Lasers offers insightful analysis and a forecast through 2019 of the laser market by laser type, application, supplier, and geographic region. New to the comprehensive annual report this year are increased coverage of fiber lasers and quantum cascade lasers.

Outcomes for the laser market in 2014 were relatively strong, given that the global economic climate is still slowly recovering from a strong recession in some regions of the world. Still, not only did some of the smaller sectors experience strong growth, which is true in most years, but most encouraging was very strong growth in the larger sectors. The communications and high-power industrial segments, both with over $1 billion in annual revenue, grew by 7% or more in 2014.

In the forecast period to 2019, Strategies Unlimited anticipates that high-power diodes as well as fiber lasers will be the fastest growing laser types in terms of revenue.

"This isn't surprising," Nogee comments, "seeing as they both are reliable, have a long life, their prices are dropping, and they are very energy-efficient. Fiber and direct-diode lasers are both important in the industrial area and are replacing other laser types. Fiber lasers are slowly replacing CO₂ lasers, and high-power diode lasers are replacing many other types of lasers, including solid-state lasers used in laser lightshows."

For additional in-depth market information, purchase The Worldwide Market for Lasers—available now at strategies-u.com.