Laser Technology Market to Reach USD 37.26 Billion by 2032,

Austin, April 28, 2025 (GLOBE NEWSWIRE) — Laser Technology Market Size & Growth Insights:

According to the SNS Insider,“The Laser Technology Market Size was valued at USD 18.76 Billion in 2023 and is expected to reach USD 37.26 Billion by 2032 and grow at a CAGR of 7.96% over the forecast period 2024-2032.”

Advancements and Expanding Applications Drive Growth in the Laser Technology Market

Advancements in laser technology have significantly driven market growth, particularly as industries optimize production efficiency through enhanced fab capacity utilization. High-power lasers are gaining widespread use in tasks like industrial cutting, welding, and medical procedures, making lasers the manufacturing technology of choice in sectors such as automotive, electronics, and aerospace. Moreover, the technology is branching into new areas like quantum computing, biomedical diagnostics, and environmental monitoring. The laser technology market is estimated to reach USD 3.49 billion in 2023 and is expected to grow at a CAGR of 8.30%, fueled by increasing precision in manufacturing, medical laser solutions, military defense systems, and applications in telecommunication and autonomous vehicles. Key drivers include the demand for high-precision manufacturing, the growth of industrial laser applications, advancements in fiber optics and LiDAR for self-driving cars, and expanded use in semiconductor fabrication and medical imaging.

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Leading Market Players with their Product Listed in this Report are:

TRUMPF Group (TruLaser Series)
Coherent (Diamond CO₂ Laser)
IPG Photonics (YLS Series Fiber Laser)
Han’s Laser (Laser Marking Machine)
ASML Holding (TWINSCAN NXE:3600D)
Trotec Laser (Speedy Series Engravers)
Jenoptik (JENOPTIK-VOTAN® BIM)
Mazak (OPTIPLEX 3015 NEO)
Prima Power (Laser Genius+)
Raycus Laser (Fiber Laser Source)
CASTECH Inc. (Nonlinear Optical Crystals)
II-VI Incorporated (CO₂ Laser Optics)
Lumentum Holdings (3D Sensing Lasers)
Huagong Tech (Laser Cutting Machine)
Bystronic Group (ByStar Fiber Laser).

Laser Technology Market Report Scope:

Report Attributes	Details
Market Size in 2023	USD 18.76 Billion
Market Size by 2032	USD 37.26 Billion
CAGR	CAGR of 7.96% From 2024 to 2032
Report Scope & Coverage	Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segmentation	• By Type (Solid-state Lasers, Gas Lasers, Liquid Lasers, Semiconductor Lasers) • By Product (Laser, System) • By Application (Laser Processing, Optical Communications, Optoelectronic Devices, Other Applications) • By Vertical (Telecommunications, Industrial, Semiconductor & Electronics, Commercial, Aerospace & Defence, Automotive, Healthcare, Other End Users)
Key Drivers	• Revolutionizing Industries with Laser Technology Advancements Driving Growth in Manufacturing Healthcare and Telecommunications. • Industry 4.0 Automation and Smart Manufacturing Driving Growth and Opportunities in Laser Technology Market.

Laser Technology Market: Insights on Growth in Type, Product, Application, and Vertical Segments

By Type

In 2023, solid-state lasers led the laser technology market with a 33.7% market share, primarily due to their widespread use in industrial, medical, and defense applications. High-efficiency low failure-rate lasers with diverse wavelengths find use in precision manufacturing, cutting, welding, and medical applications.

The semiconductor laser segment is expected to experience the highest growth from 2024 to 2032, owing to their widespread use in telecommunications, LiDAR, and consumer electronics sectors. Their compactness, energy efficiency, and low cost allow them to play key roles in fiber-optic communication, 3D sensing, as well as automotive applications – particularly in self-driving cars and quantum computing applications.

By Product

In 2023, systems held the largest share of the laser technology market at 61.3%, due to the extensive proliferation of integrated circuits among end-user industries such as healthcare, defense, and semiconductor manufacturing. For modern high-precision processing, integrated systems, which combine cutting, welding, marking, and medical applications, are a must-have in industries like automotive and aerospace, where accuracy and efficiency are paramount.

Lasers are expected to be the fastest-growing segment From 2024 to 2032, fueled by increased adoption of fiber and semiconductor lasers in telecommunications, LiDAR, and consumer electronics. The miniaturization and improved efficiency of optical technologies are expanding lasers’ applications in areas like additive manufacturing, quantum computing, and biomedical research.

By Application

In 2023, optical communications led the laser technology market with a 31.5% share, due to the growing need for high-speed data transfer through fiber-optic networks. Optical communication systems powered by lasers are essential to meet the increasing demand for hyperscale transfer of data in cloud and data centers. It is through semiconductor lasers, especially VCSELs and fiber lasers, that signal loss is reduced and bandwidth is maximized.

Laser processing is expected to see the highest growth From 2024 to 2032, with expanding applications in industrial manufacturing, electronics, and medical sectors. The rise in laser use for cutting, welding, and marking in industries like automotive and aerospace, along with the hybridization of ultrafast and high-power lasers, is driving the adoption of laser processing solutions.

By Vertical

In 2023, the industrial sector held a 30.8% share of the global laser technology market, driven by its critical role in material processing, including cutting, welding, marking, and engraving. The rise of automation and smart manufacturing is expected to further boost the demand for industrial lasers in sectors like automotive, aerospace, and semiconductor manufacturing. With their precision, efficiency, and minimal waste, fiber and solid-state lasers are increasingly used across various applications.

The healthcare sector, however, is projected to grow at the fastest CAGR from 2024 to 2032, driven by advancements in medical diagnostics, surgical procedures, and aesthetic treatments.

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Asia Pacific and North America Lead Growth in the Laser Technology Market

In 2023, the Asia Pacific region dominated the laser technology market with a 38.8% share, driven by the rapid industrialization, robust electronics manufacturing, and increased push for automation in the region. China, Japan and South Korea dominate semiconductor manufacturing, fiber-optic communications and industrial laser applications. Companies like China’s BOE Technology Group and Japan’s Canon Inc. have poured money into laser technologies for use in display making and semiconductor lithography. Moreover, the growth of fiber-optic networks in India and China further contributes to the optical communication industry. With the presence of automotive, consumer electronics, and healthcare industries accounted for, the growth in the adoption of laser technologies only increases.

North America, expected to see the highest CAGR growth from 2024 to 2032, is driven by increasing demand for laser-based medical treatments, such as LASIK and laser skin treatments. Furthermore, industrial laser advancements from companies like IPG Photonics and Coherent Inc., along with the rise of LiDAR in autonomous vehicles, are contributing to the region’s growth.

Recent Development

5 Feb 2025, Trumpf and Schmid Group have partnered to develop a cost-effective microchip packaging process using glass instead of silicon, aiming to reduce production costs. This innovation in advanced packaging is expected to improve chip performance while making high-quality devices more affordable.
10 Mar 2025, ASML plans to open a Beijing-based Reuse & Repair Center in 2025, focusing on reconditioning systems returned from the field, despite ongoing US-China trade tensions. The facility aims to address potential export control restrictions and rising tariffs while maintaining China’s position as a key market.

Table of Contents – Major Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

5.1 Fab Capacity Utilization

5.2 Laser Power Segment Distribution

5.3 Adoption of Laser-Based Manufacturing Technologies

5.4 Emerging Applications of Laser Technology

6. Competitive Landscape

7. Laser Technology Market Segmentation, by Type

8. Laser Technology Market Segmentation, by Product

9. Laser Technology Market Segmentation, by Application

10. Laser Technology Market Segmentation, by Vertical

11. Regional Analysis

12. Company Profiles

13. Use Cases and Best Practices

14. Conclusion

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