News

Laser tech market to reach $15 billion by 2022

May 12, 2017

The laser technology market is expected to be worth $15.38 billion by 2022. It will also grow at a compound annual growth rate of 5.2 percent from 2017 to 2022, according to a report by MarketsandMarkets.

Solid laser will hold the largest market share in 2022. This is due to its ability to prevent waste through its continuous and pulsed output. Laser technology is also expected to grow at the highest rate in the commercial vertical due to its increased usage in digital signage, printers, projectors, smart cards and more.

The Asia Pacific market is expected to hold the largest market share due to increased demand for laser machine tools for the industrial, telecommunication and automotive verticals.

Click here to download the report.