Growing Need for Product Traceability Predicted to Drive the Global Fiber Laser Market Until 2020, Says Technavio
By Business Wire News
By Business Wire News
According to the latest research study released by Technavio, the global fiber laser market is expected to grow at a CAGR of above 15% until 2020.
This research report titled ‘Global Fiber Laser Market 2016-2020’, provides an in-depth analysis of market growth in terms of revenue and emerging market trends. This report provides market projections until 2020 and contains a detailed discussion of the major drivers influencing the market’s growth.
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“Different types of product markings such as engraving, bonding, etching, and carbon migration are very useful for tracing the history and roots of manufactured products and the materials used. The flexibility of using an extensive range of materials and the advantages of using lasers over other conventional processes have made them the first choice for many material processing applications. These include metal welding, plastic welding, and brazing, mostly used in automotive engineering, cladding or repair welding and cutting of metals,” said Navin Rajendra, one of Technavio’s lead analysts for semiconductor research.
“Fiber lasers are solid-state lasers and offer high solid-state reliability and convenience. Materials processing involves chemical or mechanical steps for product manufacturing across industries such as automotive, general manufacturing, heavy industry, aerospace, and electronics,” added Navin.
Global fiber laser market by application 2015
- Materials processing 85.88%
- Advanced applications 10.03%
- Medical applications 2.55%
- Others 1.55%
Materials processing: largest segment of the global fiber laser market
The segment generated revenue of USD 1.03 billion in 2015. Materials processing includes the application of fiber lasers in the cutting, welding, engraving, and marking of different substances. For these processes, lasers with high power efficiency and a good-quality beam are required. These qualities, along with the need for low investment and maintenance costs makes fiber lasers an ideal choice for the materials processing market.
Marking is used for component tracking and source traceability to maintain inventory and prevent product falsification. Fiber laser marking equipment is mainly used by OEMs to apply different types of markings like bar code identification, graphic identification, and serialized alphanumeric codes on their products. These are also used in engraving because of the capability to make deeper mark on the material than the marking process.
Advanced applications: second largest segmentof the global fiber laser market
This segment was valued at USD 120.3 million in 2015. One of the fields where fiber lasers find advanced applications is in remote sensing. Space-based active remote sensing enables applications like topographic mapping, surveying of terrains, and detection of airborne constituents such as greenhouse gasses and chemical process effluents.
Time-resolved fluorescence spectroscopy, laser-induced breakdown spectroscopy, and general materials research are some of the scientific applications of fiber lasers. Femtosecond frequency combs are manufactured using these lasers. These combs play a significant role in metrology as well as in general research. They will find popular use in atomic clocks for future-generation GPS satellites and automated equipment like robot tractors.
The global fiber laser market by medical applications
This segment was valued at USD 30.56 million in 2015. As fiber lasers are compact, lightweight, and reliable these are being used for surgical procedures. With the help of light delivered through a flexible fiber, lasers allow easy integration of light into surgical devices such as endoscopes and microscopes. The targeted nature of the laser beam is useful in surgeries.
Fiber lasers can access tricky areas of the body and deliver targeted cutting or cauterizing with minimal damage to surrounding tissue. US-based Alcon Laboratories, Meditec, OptiMedica, and PolarOnyx; German-based Carl Zeiss; and South Korea-based Lutronic are some companies that are adopting high-energy fiber lasers for their surgical procedures.
Browse related reports:
- Fiber Laser Market in Europe – Industry Analysis 2015-2019
- Global Industrial Laser Market 2015-2019
- Global CO2 Laser Market 2015-2019
- Global Laser Cutting Machine Market 2016-2020
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Technaviois a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
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