Strategies Unlimited: Global laser market with growth
A new report foresees revenue growth of 5.5 percent from 2013 to 2019 for the total laser market, bolstered by double-digit CAGR in display and lightshow laser revenue. With many promising technology and application trends, 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.
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 $1B in annual revenue, grew by 7 percent 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, 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.