Dallas, TX -- (SBWIRE) -- 10/13/2014 -- Some of the key players in the laser technology market are Trumpf (U.S.), JDS Uniphase Corporation (U.S), Coherent, Inc. (U.S.), Rofin-Sinar (Germany), Cymer, Inc. (U.S.), Newport Corporation (U.S.), and IPG Photonics Corporation (U.S.).

The total laser technology market is expected to grow to $17.06 Billion by 2020 at an estimated CAGR of 7.58% from 2014 to 2020.The report also presents the market trends which depict the growth of the market from 2014 to 2020. The report presents a detail analysis of different segments forthe global market which includes product types, resolutions, applications, and geography. The analysis of the global laser technology market is done with a special focus on the high growth applications in each vertical and the fast growing application market segment.Illustrative segmentation, analysis, and forecast of the major geographic markets give an overall view of the global market.

The laser technology market is expected to grow to $17.06 Billion by 2020, at an estimated CAGR of 7.58% from 2013 to 2020.There has been a significant growth in the demand for lasers with drastically reduced laser size, high wall plug efficiency, low power consumption, and low cost. With improvements in the semiconductor laser materials and mounting technologies, it is anticipated that the diode lasers market would continue to expand in the laser technology market. Fiber lasers and disk lasers would continue to play a role in the energy storage for pulsed systems. Furthermore, the emerging new optical combination schemes are expected to provide an impetus to the growth of the market.

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Cutting & welding, and marking & engraving are the major application in industrial sector where in wherein Trumpf (U.S.) plays a significant role.TRUMPF was established in 1969 and is headquartered in the U.S. The company manufactures lasers for use in industrial production technology, as well as laser marking technology.

Fiber Laser Technology Market have the highest growth potential in the coming five years; wherein IPG Photonics Corporation (U.S.) is the major player offering high power fiber lasers and fiber amplifiers.IPG Photonics Corporation specializes in offering the optical fiber-based lasers, amplifiers, and diode lasers. The company serves its products to the Original Equipment Manufacturers (OEM), system integrators, and users for various medical and biomedical applications.IPG is expected to transform the performance and utility in a notable array of material processing, telecommunications, medical, and other advanced applications.

JDS Uniphase Corporation (U.S.), is amongst the largest vendors of high-power diode lasers, which is continuously introducing high performance technology into a comprehensive variety of applications including optical pumping of fiber and solid-state lasers, material processing, thermal exposure, illumination, ophthalmology, medical, image recording, printing, spectral analysis, and optical data storage.JDS Uniphase Corporation (U.S.) has been focusing on vertical expansions through various collaborations and new product launches. In 2010, it collaborated with Amada. Amanda is one of the leading manufacturers of machine tools. Together they started developing high class fibre lasers with high power. In 2011, JDS Uniphase Corporation developed 4 KW output power laser to enhance its verticals in the material processing system.

Due to its distinguished characteristics, laser is the preferred tool in medical device manufacturing. Irrespective of the various applications like the production of endoscopes, medical instruments or implants, lasers work with high speed, precision and repeatability resulting in high quality of products. Some products like pacemakers for cardio-related ailments can be manufactured only with the help of lasers. The laser welds the titanium housing airtight, leaving no porosity and room for refinishing.

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Laser technology has proven to be an essential surgical tool, for improving eyesight, repair torn retinas, treat kidney stones, or the removal of spinal tumors. Although it has been more than four decades of use in the operating room, laser surgery has been limited by the property that its energy travels in straight lines. This implies that a laser works best on applications that can be reached with a straight shot.

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