Solid State Lasers Market Set to Expand to US$ 2.3 Billion by 2033 on the Back of Growing Demand in Medical and Telecommunication Industries
The global solid state lasers market value will reach US$ 1.7 billion in 2023. In the forecast period, global sales of solid-state lasers will likely rise at 3.2% CAGR , taking the total market valuation to US$ 2.3 billion by 2033. Demand for solid state lasers is predicted to remain high in communication applications. This is attributable to the rising usage of solid state lasers in optical communication systems due to their high efficiency and long reach. The target segment is set to progress at 3.0% CAGR through 2033. The worldwide solid state lasers industry will thrive steadily during the forecast period. This is due to the rising usage of solid state lasers in communication, medical, materials processing, and military applications. Solid state lasers use solids as a laser medium to generate laser light. They find application in diverse fields, including manufacturing, research, and telecommunication, owing to their advantages, ...