LONDON--(BUSINESS WIRE)--Increased adoption of lasers for industrial processes has led to significant growth of the Global Industrial Laser Market, which is expected to post a CAGR of 10.23 percent from 2014-2019, says research firm TechNavio.
About the Report
The latest report by TechNavio emphasizes the increased adoption of lasers due to their superior attributes. The Global Industrial Laser Market has witnessed an increase in revenue thanks to the adoption of fiber lasers worldwide. The superior attributes of fiber lasers like compact size, energy-efficient nature and eco-friendly composition are driving the adoption of industrial fiber lasers.
“The sale of high-power fiber lasers has increased over time, which has had a positive impact on the Global Industrial Laser Market,” says Faisal Ghaus, Vice President of TechNavio.
Furthermore, the report highlights the increased R&D spending by vendors like Coherent, IPG Photonics and Rofin-Sinar Technologies, as they look to expand their product portfolios. Vendors in this market are increasingly investing in their R&D divisions to provide better functionalities and to meet unsatisfied customer requirements.
“R&D investments have enabled vendors to capture a significant market share and gain a competitive edge over other vendors in the market,” says Ghaus.
Key Information Covered in the Report:
- Market segmentation, size and forecast through 2019
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Market Growth Drivers:
- Increased Adoption because of Superior Attributes
- For a full detailed list, view our report.
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Market Challenges:
- High Dependency on Limited Key Suppliers
- For a full detailed list, view our report.
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Market Trends:
- Increased R&D Spending by Vendors
- For a full detailed list, view our report.
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Key Vendors:
- Coherent Inc.
- IPG Photonics Corp.
- Rofin-Sinar Technologies Inc.
- Trumpf Group
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Other Prominent Vendors:
- 3S Photonics
- Active Fiber Systems
- Calmar Laser
- Clark MXR
- EKSPLA
TechNavio currently has more than 3000 market research reports on a huge range of topics, including 50+ reports on the laser market:
If you are interested in more information, please contact our media team at media@technavio.com.
