LasersCompanies (2024 - 2029)

Lasers Market Companies Summary

The lasers market experienced moderate disruption in 2020 due to the COVID-19 pandemic and the temporary shutdown of various industries. However, the subsequent rise in the production of electrical and electronics, medical devices, and automotive, where lasers are significantly used, led to increased demand for lasers in 2021. The growth of the lasers market is also being driven by the increasing demand for laser systems from the electronics industry. However, high capital investment may pose a challenge to the market in the future. LiDAR technology is anticipated to provide new growth opportunities for the industry during the forecast period. The communication segment is expected to dominate the market, with laser systems providing communication through wireless technology. Laser communication terminals transmit and receive laser beams, which can be established between planets. The use of laser diodes to create laser signals and for feedback is common. Laser communication is incorporated into fiber-optic networks when fiber is not practically used. Laser communication has several advantages over radiofrequency, including higher bandwidth, low power loss, smaller antenna, less power required for transmission, and increased security. The growth of the telecommunications market is expected to boost demand for lasers in communication over the forecast period.