Bright future for laser tech as industries upscale and expand
Tuesday, 19th Jan 2016
Fun fact – the word laser actually stands for light amplification by stimulated emission of radiation. The role of laser technologies has penetrated our lives by leaps and bounds.
Unlike conventional sources of light, lasers are concentrated energy that enables users to locate and control the beams more precisely and effectively. This level of precision and the ability to generate high temperatures of heat to cut various metals has led to the exponential increase in demand for lasers for industrial purposes or in industries that require more precise functions down to the most minute of details.
According to data by Transparency Market Research, the projected growth for laser processing technologies across industries will reach US$17.26 billion by 2020. Should the numbers be right, the global market for lasers will increase by 10.2% CAGR from now to then.
In the field of material sciences and environmental processes, laser technologies have always been the fundamental component. It not only allows for faster processing, close monitoring and the ability to remotely control processes for non-contact materials. In fact, everyday products like vehicles or smartphones are manufactured using the precision of laser technologies.
The development of laser technologies has contributed extensively to several industries. It has provided radical solutions in the area of environmental sciences where laser technology is deployed to gather and monitor atmospheric information regarding greenhouse gases, stratospheric aerosols and pollution.
With increased demand for better medicine technologies, defence and security technologies, as well as technologies for industrial processes etc., the future of the laser processing market is at a promising position for exponential growth.
Article originally taken from here.