Laser Technology Market was valued at US$ 11.7 Bn. in 2020 and is expected to reach US$ 24.6 Bn. by 2027, at a CAGR of 11.2% during a forecast period.

The term laser refers to light amplification via stimulated emission of radiation. It is a device that uses optical amplification to generate a beam of light with a single wavelength.

Higher power consumption, burning, and difficulty in cutting certain tools in the material processing market and regulatory compliance are hampers the growth of the Laser technology market. The necessity for low-cost solutions is the major challenges of t...