Fiber Laser Market is predicted to thrive at a CAGR of 14.51%

At an estimated value of USD 2.23 billion in 2020, the global Fiber Laser Market is predicted to thrive at a CAGR of 14.51% to be valued at USD 8.42 billion by 2030. Fiber laser is an optically pumped device mostly used with laser diodes and in some cases with other fiber lasers. The optical fiber used in the fiber laser is doped with rare earth metals such as ytterbium, erbium, neodymium and others that amplify the produced light. It has wide application in different industries due to its high efficiency, cost effectiveness, compact size and low maintenance cost.